ANCA awarded almost $1.3M for small business aid

May, 2021

May 21, 2021

SARANAC LAKE — The Adirondack North Country Association has received a combined grant award of more than $1.26 million from the U.S. Department of Commerce’s Economic Development Administration and Mastercard to develop and implement small business assistance programs in the aftermath of the COVID-19 economic crisis.

ANCA, a nonprofit corporation based in Saranac Lake, will leverage the $1 million EDA CARES Act Recovery Assistance grant to implement a new Center for Pandemic Response, which will provide technical support services that help small businesses across northern New York diversify income streams and decrease overhead costs. The Mastercard Impact Fund, administered by The Mastercard Center for Inclusive Growth, will provide $250,000 to support the project.

“This initiative will have lasting economic impact for the North Country,” Danielle Delaini, ANCA’s business transition program coordinator, said in a press release. “With individually tailored planning that focuses on diversification and cost savings, our region’s small businesses will spur economic investment in their communities by creating and sustaining local jobs and supporting neighboring businesses. The plans they develop through CPR will help them better withstand future economic crises that come their way.”

Dalaini said ANCA will work with regional economic development partners to implement the project, which they anticipate will support 305 businesses across New York’s 11-county Adirondack North Country region in developing resilience plans. Over the next two years, the project will help retain approximately 1,425 jobs, create 210 jobs and preserve millions of dollars in wages.

Read the full article in the Adirondack Daily Enterprise.