The Development Authority of the North Country announces $45,000 in low-interest loans through its inaugural Maple Producers Demonstration Program. Those receiving assistance are Charles Farney, Farney's Finest, Lowville; Thomas Bain, Val's Maple Kitchen, Redwood; and Kenneth Tupper, Hilltop Maple Treats, Canton. Funds will be used to increase the production of maple syrup through the purchase of new equipment and the addition of taps.
Recipients are:
- Charles Farney (d/b/a Farney's Finest) - $15,000 to purchase syrup press, vacuum pump, tubing and taps with the potential to increase volume by 30%;
- Thomas Bain (d/b/a Val's Maple Kitchen) - $10,000 to purchase vacuum pump and taps with the potential to increase volume by 75%;
- Kenneth Tupper (d/b/a Hilltop Maple Treats) - $20,000 to install reverse osmosis machine, vacuum pump, tubing and taps with the potential to increase volume by 20%.
These are the first awards made through the program. The Authority will continue to accept applications while funding is available.
The Maple Producers Demonstration Program was established to assist producers across Jefferson, Lewis and St. Lawrence Counties in increasing productivity in order to create value-added products for retail consumption through local and regional markets. "This new program demonstrates the Authority's ongoing commitment to agriculture programs including its funding of dairy profit teams and its farm drainage loan program," James W. Wright, Executive Director.
The maximum loan amount is $40,000 and the borrower is required to commit a minimum of 25% of the total loan amount. Proceeds from the loan may be used for the purchase installation, and associated soft costs for equipment to increase productivity. Awards are made to applicants in the form of low-interest loans to be repaid over five years.
The Development Authority is partnering with the Cornell Cooperative Extensions of Jefferson, Lewis, and St. Lawrence Counties to provide the necessary technical assistance to determine project feasibility.
Applications are available at the Development Authority of the North Country and Cornell Cooperative Extensions of Jefferson, Lewis and St. Lawrence Counties.
