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Economic development director reports $10 million Live Local fund and multiple large bioscience projects
Summary
The county economic development office reported growth of the Live Local Development Fund to $10 million, highlighted major private projects and said housing vacancy and low inventory continue to constrain supply.
Jefferson County's economic development director presented the office's 2024 work, reporting the Live Local Development Fund has grown to about $10 million and reaffirming a focus on housing, workforce and placemaking to support recent industrial investment.
Deb Reinbold told the board the Live Local Development Fund, established as strategic gap financing, started at $3 million in 2023 and had reached $9.5 million; the county added another $500,000 the week of the meeting to reach $10 million. The fund offers below-market gap loans of up to $25,000 to help developers fill capital stacks.
Reinbold highlighted several large private development projects the county has engaged with: a $563 million project referred to in the presentation as Kikumen (27 jobs reported so far), Astellan Bio (about $500 million, 77 hires) and Onego Bio (described as a $300–$350 million project with roughly 83 jobs and a planned 2026 groundbreaking).
Reinbold also said a county housing market study shows a 1% multifamily vacancy rate and about 1.7 months of single-family inventory, both well below commonly cited stability benchmarks of roughly 5–6 percent or months. The department reported HUD certification, administration of a $100,000 rehab grant for the City of Watertown, and partnership work including Habitat for Humanity site activity.
On workforce, Reinbold said the county has partnered with local employers and the Society for Human Resource Management to help employers hire international workers, and that those efforts won a national SHRM award. She asked supervisors to help promote upcoming events, including a July 24 State of the County presentation and an Aug. 13 Conversations with Thrive session.
The board received the report; no vote was required.
