Greater Massena Economic Development Fund ("GMEDF")
The Greater Massena Economic Development Fund was created by the New York Power Authority to induce business enterprises to establish, maintain or expand plants, facilities or operations in the Town of Massena and St. Lawrence County.
The GMEDF will make low-interest loans up to the lesser of 30% of the project's cost, or $200,000. The applicant must provide at least a 10% equity contribution to the project. In-kind laobr, materials and/or services may satisfy this contribution.
The loan fund is administered by the St. Lawrence County IDA Local Development Corporation.
The 5-member GMEDF Board includes a representative from each of the following: St. Lawrence County Industrial Development Agency, New York Power Authority, New York State Empire State Development Corporation, New York Job Development Authority and Town of Massena.
To get more information on the GMEDF:
Contact one of our IDA staff members.