Franklin County Economic Development Corporation Launches Rail Trail Small Business Fund –

Franklin County, NY – The Franklin County Economic Development Corporation (FCEDC) is thrilled to announce the launch of its Rail Trail Small Business Fund as part of the Adirondack Frontier Small Business Program, aimed at fostering the growth and resilience of small businesses in Harrietstown and Tupper Lake.

Two grants of $200,000 each, funded through NYS Community Development Block Grant, were awarded to the towns of Harrietstown and Tupper Lake and will be administered by FCEDC. The Rail Trail Small Business Fund was designed to boost economic development, job creation, and the overall experience for residents and visitors along the Adirondack Rail Trail. The fund will include specific eligibility requirements and criteria to identify and prioritize businesses that align with the grant’s goals.

Rail Trail Fund Highlights:

• Financial Support: Grants ranging from $5,000 to $35,000 will be available to qualified microenterprises, ensuring they have access to the capital needed to invest in their businesses.
• Eligibility Criteria: To be eligible, businesses must meet the minimum criteria below and demonstrate how they will leverage the Adirondack Rail Trail.
• Flexible Use of Funds: Recipients can use the grant funds for various purposes, such as purchasing equipment, marketing initiatives, or other working capital needs. However, construction is not eligible.

Applicants must meet the following minimum criteria:

• Have five or fewer employees, including owners.
• Create at least one full-time position for someone from a low-to-moderate income household. If no job is created, the owner must be from a low-to-moderate income household.
• Provide a minimum 10% cash equity contribution.
• Be principally engaged in one of the following business sectors: Arts, Entertainment, and Recreation; Accommodation and Food Services; Retail Trade.
• Be located in the towns of Harrietstown or Tupper Lake (including businesses within village limits of each town).

The application will be available in Fall 2024 on the FCEDC website under the Small Business Program.

Rick Dattola, Town of Tupper Lake Supervisor, emphasized the potential benefits:

“The Adirondack Rail Trail Fund is a fantastic way to revitalize our community,” Dattola said. “By backing small businesses that improve the rail trail experience, we aim to generate employment, stimulate the local economy, and ensure Tupper Lake remains a top destination in the Adirondacks.”

“Harrietstown is proud to work collaboratively with FCEDC on this project,  blending economic development and the outdoor recreation industry,” said Jordanna Mallach, Town of Harrietstown Supervisor. “Our goal is to create as supportive an environment as possible for small business growth,  and the Rail Trail Fund is a crucial part of that effort.”

For more information, please click here or contact Rachel Child, Community Development Manager, at (518) 481-8211 or [email protected].

Photo at top provided by the Franklin County Economic Development Corp.