Ulster County Executive Mike Hein is hoping the right incentives can help boost the economy of Ellenville, a village of about 4,000 in the Catskill Mountains.
Ellenville expected a big windfall from a casino proposal at the former Nevele Hotel in nearby Wawarsing, but the casino bid lost out in the state selection process to a proposal in Sullivan County.
In August, the Ulster County Legislature approved legislation designating $1 million toward economic development in the region. The project has been dubbed the “Ellenville Million” by the county.
As part of that initiative, Hein announced in April that companies could apply for up to $50,000 for projects that either relocate businesses to the Ellenville or Wawarsing or expand existing ones in the area.
The incentives are offered to businesses making capital investment in property, building construction and rehab, machinery or equipment updates or other expenses with approval. In addition to investment, companies looking to apply must create at least five new jobs, according to a press release from the executive’s office.
The components of the Ellenville Million come from recommendations made by a committee last year designated to study the matter. The initiative will also fund high-speed internet improvements, Main Street beautification projects, the establishment of a tourism center, tourism promotion, restoration of a local theater and water and sewer improvements.
In a press release, Hein said the initiative was an “innovative program to encourage renewal of this region.”
“This plan is designed to assist in what I hope is a prosperous and bright future for the Ellenville and Wawarsing area,” Hein added.
Applications can be found on the Ulster County website page dedicated to the Ellenville Million.