EDC/HRLDC 2012 Business Plan Competition

Description

EDC Warren County in conjunction with Hudson River Local Development Corporation is pleased to announce a business plan competition designed to encourage development and provide employment opportunities for the region. The Grand Prize winner will receive a fully approved shovel‐ready lot in the Queensbury Business Park in the Town of Queensbury, Warren County NY at no land cost. Business plans will be reviewed and ranked by a committee comprised of representatives from the business and
economic development community in Warren County. The competition is open to all non‐retail businesses willing to locate and develop facilities on the awarded lot at the Queensbury Business Park. Applications for the competition will be available May 4,2012. Deadline for submission is close of business, July 31, 2012. The award will be announced September 30, 2012.

Website

http://www.scribd.com/doc/92100478/EDC-HRLDC-packet1

Competition Organizer

EDC

Local US Event
Warren County, NY
Submission Date

7-31-2012

Awards Date

9-30-2012

Total Prize Cash (US Dollars)

$250,000

Competition Category
  • Business - Local U.S.
  • Social Entrepreneurship
Who's Eligible

Non‐retail business meeting the following conditions are encourage to apply:
• Manufacturers with or without logistics attached.
• Back office or Shared Services Center operations; Technical Support/Operations center
• Warehouse/distribution center operations; especially those which supporting existing
manufacturing operations in Warren or Washington counties
• Developers who have a tenant who meets the above qualifications, and have a minimum fiveyear lease commitment with said tenant
• Businesses already having a presence in either Warren or Washington County which, for
business reasons, must relocate operations, are encouraged to apply provided they are
manufacturers, back office/shared services centers, technical support centers, or warehouse, distribution center operators. These applicants will be required to provide a detailed business case for relocating from their existing place of operation to the Queensbury Business Park.
• Able to break ground within 12 months of award
• Create/retain a minimum of 10 full time equivalent jobs on site
• Minimum 5 year job level commitment after occupancy
• Site approved to accept a maximum 25,000 SF building
• Use consistent with existing zoning requirements (Commercial/Light Industrial) in the Town of Queensbury and park covenants
• Able to secure bank commitment within 90 days of award –( a Letter of Interest From the applicant’s financial institution should be included with the application).
• Able to submit engineered plans within 60 days of award
• Able to provide $5,000 down payment of a $20,000 total transaction fee at time of award

Competition Prizes

Fully approved and shovel ready 3.8 acre lot in Queensbury Business Park at no land cost*
Total value (estimated at approximately $200,000 to $250,000) includes cost of purchasing 3.8 acres of commercial/light industrial land with full site approvals. Site includes access to all utilities in a new business park setting.