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County economic development reports $10 million Live Local housing fund, highlights multi-hundred-million-dollar biotech projects
Summary
Jefferson County economic development updated supervisors on major industrial projects, workforce initiatives and housing gaps. The Live Local Development Fund reached about $10 million, and the county cited a 1% multifamily vacancy rate and 1.7 months of single-family inventory.
Jefferson County economic development officials reported that the Live Local Development Fund has reached roughly $10 million and highlighted several large private projects and workforce initiatives as officials press to expand housing and labor supply.
Deb Leinbold, interim economic development director, told the county board that the Live Local Development Fund — a gap-financing pool used to support housing projects — grew from $3 million in August 2023 to $10 million as of the weekend prior to the meeting, with the county contributing $1 million from sale proceeds of the Kekumen property. The program offers strategic gap financing to developers and can provide up to $25,000 loans at a negotiated rate to help close capital stacks.
Leinbold cited a recent county housing market study showing a roughly 1% multifamily vacancy rate (well below a stable market) and about 1.7 months of single-family inventory. "A 1% vacancy rate typically — about 5 to 6% is a stable market," Leinbold said, noting the shortage motivated the fund.
Economic development also highlighted three major private projects: a $563 million project by Kikumen, a roughly $500 million Astellan Bio project, and a 2024 announcement of Onego Bio (estimated $300–$350 million, about 83 jobs) scheduled to break ground in 2026. Leinbold said Kikumen and other firms are already hiring.
On workforce, county officials said they had worked with the Jefferson County chapter of SHRM to host an employer conference on hiring international workers, which drew roughly 80 attendees and won a national Pinnacle award. The department also noted HUD certification, a $100,000 ARPA-funded rehab program administered with the City of Watertown, and the county’s role in supporting Habitat for Humanity sites.
"When you think about economic development, industrial development drives the need for workforce, drives housing, and that then drives support for retailers and infrastructure," Leinbold said, summarizing the department’s integrated approach.
County staff also described outreach and recognition: the county was featured by Site Selectors magazine and the Kikumen project won a Mid-America EDC Project of the Year award. Upcoming public sessions will include the state of the county presentation on July 24 and a Thrive conversation on Aug. 13.
Board members took no formal vote on the report; Leinbold said the department will continue to deploy the Live Local fund and partner on workforce and housing solutions.
