The Seneca County Industrial Development Agency (IDA) is unlikely to meet its 2024 goal of approving five new projects, according to reporting by the Finger Lakes Times. Executive Director Sarah Davis attributed the slowdown to high interest rates and a softening post-COVID economy in her third-quarter report to the board.
Despite this, the IDA has 34 projects in the pipeline and is on track to exceed last year’s business retention visits. Davis emphasized the need for shovel-ready development sites to drive future growth.
Three projects have sought financial assistance this year, including a housing project and a solar initiative.
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