The Job Development Program Revolving Loan Fund (JDP) is administered by Rensselaer County’s Economic Development and Planning Office. The fund was created to promote employment opportunities by assisting eligible businesses seeking to establish or expand in Rensselaer County. The program provides supplemental funding for industrial and commercial development that will result in creating jobs within Rensselaer County. Loans are available to most businesses, and may be used for any number of things such as buildings, machinery and equipment, moving expenses, inventory acquisition expenses, or working capital. Rensselaer County’s Economic Development and Planning Office will coordinate your application process in an effort to secure the best available financing structure.
Stipulations: 1 job must be created within two years per $25,000 borrowed.
Retail enterprises must have 10 existing full-time equivalent jobs on the day of application to qualify.
To ensure maximum benefit to the county economy, loan applications are accepted on a potential-for-job creation basis NOT on a first-come-first-served basis. Acceptance of applications is also subject to availability of funds on the application date.