TICONDEROGA - The State of New York will spend nearly $3 million to assist struggling businesses affected by the closing of the Lake Champlain Bridge, according to a N.Y. Department of Transportation news release. New York will make the money available to affected local businesses through grants and SBA-like loans.
The New York Department of Transportation told businesses near the closed bridge that if they have lost 20 percent or more of income as a result of the closure, they may be eligible to receive the state loans and cash grants. All options will be funded by New York taxpayers. N.Y. DOT also said it is talking with officials of the U.S. Small Business Administration to provide no-interest loans for the struggling businesses in New York.
Vermont Agency of Commerce official David Mace said Vermont has no plans in the offing to assist Addison County businesses beyond what it has already provided.
For obvious reasons, New York taxpayer dollars will not aid those struggling businesses on the Vermont side of the 80-year-old Lake Champlain Bridge.