Grants to aid businesses in Ballston
Funds to help create jobs
BALLSTON, N.Y. >> The town of Ballston is in the implementation stages for the microenterprise grants it was awarded in December 2016.
This is the first time the town has applied for state funds to help local business and entrepreneurs develop viable business opportunities that will result in the creation of low to moderate income jobs in the community.
The program, which was initially envisioned as an opportunity to make funds available to local farmers and agri-businesses in the area, had between $5,000 and $35,000 to dispense to applicants who met the criteria of the grant. Among other things, the grant required that each participant spend at least 10 percent of their own funds and the grant money will to be used to purchase equipment to start a new business or expand an existing business. The other requirement is that the funds must result in the creation of a low-to moderate-income job. According to Jim Martin, senior planner and economic development specialist with the LA Group and program administrator for the town, the low to moderate rule can be met in one of two ways: the applicant can demonstrate that they are already low to moderate income and they would become the beneficiary of the job that is created; or, the job creation is a result of the expansion of an existing business or a new start-up business. Martin said that four of the five winning applicants fall into the low to moderate income category.
The fifth grant recipient must make at least one job available to a qualifying individual of low to
moderate income. The qualifying income level in Saratoga County for 2017 for a four-person household is $41,550 for low income and $66,500 for moderate income. Incomes for a single person household range from a low of $29,100 to $46,550.
Martin said they received several calls early on from local farmers who expressed interest in the grant. However, they received no applications from farmers.
“When the program was just starting, we wrote a letter to every farmer in the community, using a list we obtained from the farmland protection committee, notifying them of the grant, and we had some preliminary letters of interest from a couple of farmers. I’m not sure why we never heard back,” said Martin.
However, he added that two of the five grant recipients will be creating an indirect benefit for local farmers and agri-businesses. Galway Rock Wines will be expanding its business with the opening of a tasting room and a vineyard on Ballston Lake, and Kent Chase will be opening a new business – KC Welding. Chase plans to supply stainless steel equipment to breweries, distillers, wine makers and dairy farmers in the region.
The town began accepting applications in summer of 2017 and made its final decisions about grantees by late fall 2017.
Martin said the grant has been “tremendously successful.” Within the first 90 days, the town had received enough applications to utilize all the money and then some.
The town now has approximately 14 months to fully spend the monies by distributing the funds. If someone should drop off and money becomes available again, the town will have to find someone to plug that money back into, said Martin. However, he is very optimistic that the five chosen applicants will complete their obligations, adding that three of the five recipients have already begun purchasing equipment or making the necessary expenditures to fulfil their obligations under the provisions of the grant. He also said that the state is good about extending deadlines within reasonable parameters.
“All our projects are substantially along. We have completed our due diligence, review and approval and the mandatory entrepreneurial training has been completed by the recipients. They have all gotten their projects lined up and we can demonstrate that there has been very steady progress,” said Martin.
The program is a strictly reimbursement program. Grant recipients must spend their own money and then submit receipts to be reimbursed. For some people, this may have been too large of an obstacle to obtaining the grant.
Not everyone has $35,000 available to purchase the equipment up front, said Kent Chase.
Town of Ballston councilwoman Kelly Stewart said that accessibility of funds should not have been a stumbling block for potential applicants. One of the grant committee members is Laura Syracuse of Ballston Spa National Bank. According to Stewart, Syracuse made it clear that people could demonstrate to their bank or lending institution that they would be reimbursed through the grant, which would enable them to qualify for a bridge loan if they didn’t have the capital on hand already.
Both Martin and Stewart agreed that the grant program has been very successful and has had a positive effect on the local community. “The award has had a positive effect. It changed the negative perception that many townspeople held. They now think that they can compete, and I think that’s very encouraging,” said Martin.
The town of Ballston recently announced five local businesses will share $169,000 in state-supported microenterprise grants. The grant recipients are:
• KC Welding — $35,000 to purchase welding equipment and address other start-up expenses.
• Long Road Winegrowers [Galway Rock Wines] — $35,000 for a new tasting room, new equipment and an outdoor crush pad.
• NY Drone Zone — $29,000 for pilot training, marketing, professional fees and travel expenses.
• Terry’s Floors — $35,000 to hire a full-time installer and a part-time administrative assistant.
• Townley & Wheeler Funeral Home — $35,000 for equipment and remodeling projects.