Watertown, where they per-formed a series of missions basedon Watertown’s rich history andits impact on the nation. Thedowntown area also played hostto a farmers market, live radiofeeds, music and entertainmentfrom local organizations, fire per-formers, booths from local busi-nesses and most of all a chanceto be in a Universal Studios majormotion picture.
New Chamber Benefits:
2012 was a year of new oppor-tunities for our members. Theseincluded a FREE email ad to ourover 1800 business email list, aFREE entrance pass to businessafter hour for a year, 25% Off amembers first advertisement,discounted Sam’s Club member-ship, and much more...
PTAC and Insurance Programs:
The Procurement Technical As-sistance Center and the GreaterWatertown-North CountryInsurance Agency both offersbusinesses in the area uniqueopportunities for growth andsupport. PTAC helps businessesattain local, state or federal gov-ernment grants FREE of charge.The Greater Watertown-NorthCountry Insurance Agency offersproprietary based insuranceprograms for small to large busi-nesses.
Increase in EventAttendance:
In 2012, the Chamber had an in-crease in the attendance to manyof the events hosted throughoutthe year. The Chamber’s Busi-ness After Hours saw its largestincrease this year, averaging anattendance of over 225 monthly.We are currently booked through
What Happened in 2012...
New York JDA has something yourbusiness could use – money.
As forcefully outlined by Gover-nor Cuomo in his Urban Agenda,“Capital is the oxygen of business.If businesses cannot get access tocapital to finance their operations,they will stagnate or die.” New YorkState’s Job Development Author-ity (JDA) presents a powerful andexisting opportunity to support andexpand small business in the Statethrough the availability of competi-tive financing opportunities.The reenergized JDA is the longterm solution to helping many New York State businesses in their desireto access much needed capital.The JDA direct loan programprovides loans for the growth of manufacturing and other eligiblebusinesses through financing forthe acquisition or renovation of existing buildings, new constructionor machinery and equipment. JDAeligible businesses are engagedin manufacturing, distribution,warehousing and certain serviceindustries. Real estate loans may beup to 20 years, M&E loans may beup to 10 years or the useful life of the collateral, whichever is less. Theterm of a JDA loan is generally thesame as the term of the bank loan.Funds to make Loans are derivedfrom the sale of State-guaranteedbonds. In most cases, JDA Loanscan be for up to 40% of the totalproject cost of Real Estate projectsor M&E projects.Loans may beup to 60% for projects located inEmpire Zones or an economicallydistressed area.The combination of a bank loanand a JDA Loan allows up to 90%financing of a project.Typical financing structure:50% Bank Loan40% JDA Loan10% Borrower EquityJDA Real Estate Loan is normally asecond mortgage loan, subordinateto a first-mortgage loan providedby a bank; M&E Loans are securedby a first lien, co-equal with thebank’s lien, on the M&E beingfinanced.Real Estate project costs includethe cost of an existing buildingand renovations, purchase of landand construction of a new buildingand soft costs normally associatedwith a real estate transaction. M&Eproject costs include the cost of the machinery and its delivery,installation costs solely attributableto the machinery being purchasedand soft costs related to the M&Eacquisition.Eligibility:Facilities to be used for manufac-turing, distribution, warehousingand certain service businesses areeligible for JDA Loans.Loans for retail facilities, whichcustomers must personally visit inorder to obtain the goods or ser-vices being sold, are not eligible forJDA Loans, nor are loans for hotelor residential facilities.JDA does not make loans for motorvehicles, nor does JDA make Work-ing Capital Loans.Requirements:The Borrower must secure a letterof commitment from the bank pro-viding the 50% financing portion of the project cost.The Borrower must provide at least10% of the project cost as an equitycontribution to the project.Personal guarantees are requiredfrom any person owning 20% ormore of the Operating Companyfor whose benefit the JDA Loan isbeing made.New York State Supports SmallBusiness and we’ll lend you themoney to prove it.
North Country Region Watertown OfficeDulles StateOffice Building Watertown, NY 13601(315) 785-7907
March 6,Business of the YearAwards and AnnualMeetingMarch 20,March Business AfterHours at Immaculate HeartCentralApril 4, Job and CareerExpo 2013 at the Bruce M. Wright Conference Center, WatertownApril 17,April Business After Hoursat the The Inn at BonnieCastleMay 22,May Business After Hoursat The Riveredge Resort June 6, JLI Graduation DinnerClass of 2013, LocationTBD
For a Complete EventsCalendar, go to watertownny.com underChamber Events calendar
Upcoming ChamberEvents Calendar
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