Slic Network Solutions
April 6, 2010 - The St. Lawrence County IDA Local Development Corporation (IDALDC) at its April 6, 2010 meeting, approved an additional $30,000 in loan funds to Slic Network Solutions, Inc. to bring the IDALDC’s total financing assistance to $120,000.
The funds were in addition to the already-approved $90,000 loan authorized by the Corporation back in October of 2009 to assist the company with the expansion of its broadband and network services to the Ogdensburg and Brasher Falls areas.
This additional $30,000 will help Slic to leverage a $60,000 grant from St. Lawrence County for the construction of a 3.2 mile, last-mile fiber optic network that will provide advance telecom and broadband internet connectivity to the homes and businesses located in Newton Falls. The network will pass approximately 115 homes and businesses and will provide much-needed services to that market.
Without the grant and loan funding, broadband services would not be available to the residents of Newton Falls. The IDALDC’s loan is part of a $437,000 financing package that included assistance from the North Country Alliance, St. Lawrence Chamber, USDA and the County.
Raymond Fountain, CEO of the St. Lawrence County Industrial Development Agency, stated, “The IDALDC is proud to support a local company’s expansion efforts and assist in bringing telecom services to an underserved portion of the County.”
Brian Staples, IDA Chair, added, “We are working to assist in the development of this infrastructure throughout the County, and we feel this project is positive not only for Slic and the IDALDC, but also for the residents and businesses in these areas of the County.”
About the St Lawrence County Industrial Development Agency
The St. Lawrence County Industrial Development Agency is a public benefit corporation created by New York State legislation to promote, encourage, attract and develop job opportunities and economically sound commerce and industry in St. Lawrence County. As a full-service development agency, SLCIDA works to ensure that you maximize the services available to help you start, expand and maintain your business in St. Lawrence County.