Advancing Economic Opportunity In The North Country

Expansion of 3S Training In Potsdam

Congratulations to Chris Sargent, owner of 3S Training in Potsdam, for securing joint financing from the Village of Potsdam and AEDC. The loan proceeds will assist Chris in expanding his business to include several new saunas for client use.

3S Training, LLC provides strength and conditioning training to high school and collegiate athletes. In addition to customized training for athletes, 3S Training holds regular clinics on topics ranging from strength training to nutrition and sleep habits for better athletic performance.

The additional saunas will not only complement the services offered to Chris’ existing clients, but will also be made available, via membership, to the residents in the greater Potsdam area.

A special thanks to the Village of Potsdam for helping to move this project forward.

Pictured: Chris Sargent of 3S Training, Jamie Cecilia of AEDC and Fred Hanss and David Thurlow of the Village of Potsdam.

AEDC Partners With NRDC & Celebrates First Non-Profit Loan Collaboration

North Country Rural Development Coalition, located in Ticonderoga, plays a huge role in housing and community development across southern Essex County and beyond. AEDC was happy to assist their efforts by providing bridge financing for critical housing program grant projects. Our team recognizes that nonprofits and businesses alike frequently struggle with implementing highly needed programs, even after securing grant funding, when the secured funds are reimbursement based.

This project was also AEDC’s first non-profit loan, financed through its Adirondack Opportunity Fund. The organization continues to seek resources to further expand the private capital of this loan fund in order to expand investment in the region in more flexible ways than traditional public loan fund sources permit.

Pictured: Nicole Justice-Green of North Country Rural Development Coalition and Jamie Cecilia of AEDC.

AEDC Featured In Ausable River Valley Business Publication

The Au Sable River Valley Business Association (ARVBA) is a 501(c)(6) nonprofit organization that fosters business and community growth in the towns surrounding the Au Sable River. AEDC values the business networking, outreach and advocacy that our partners at ARVBA provide to the area and appreciate this mention. Of course we’d be remiss not to mention our own Jamie Cecilia who is an officer on the ARVBA board!

Pictured: Image of ARVBA December newsletter.

Zdak Studio Expands In Lake Placid

AEDC was pleased to provide financing to help Zdak Studios expand in Lake Placid. Congratulations to owner Shaun Ondak for the expanded services of his fantastic photography, videography and printing services.

Be sure to visit Zdak Studios when in need of these services in the tri-lakes region and beyond!

Pictured: Shaun Ondak of Zdak Studios.

AEDC Supports Adirondack Diversity Initiative Symposium At Paul Smiths

AEDC is a strong supporter of the Adirondack Diversity Initiative (ADI) which is housed within the Adirondack North Country Association (ANCA). We were pleased to sponsor the November ADI Symposium in Paul Smiths and attend this meaningful gathering.

The thoughtful leaders and sessions at this event were inspiring and carried timely messages. We look forward to seeing what our friends at ADI grow in our region in 2025.

End of Year Board of Directors Meeting

AEDC held its fourth quarter and end of year meeting at its offices in Saranac Lake in December. The team was surprised by a major snowstorm (even by Adirondack standards) and while many directors had to attend by video conferencing, we were happy to have our full staff and several board members in person to celebrate the holidays.

We welcomed back our friend Beverly Deso, AEDC’s long-time Comptroller who retired last year, for our holiday luncheon. The camaraderie of a great team and leaders helped warm a cold and snowy day. Thank you to our amazing Board of Directors for a much-appreciated year of service.

Pictured: AEDC December Board meeting in Saranac Lake.

Congratulations Stephanie & Jamie on AEDC Promotions

AEDC is happy to announce the promotion of two of its team members. Stephanie Donaldson, on the team since 2016, is now the organization’s Entrepreneurship Programs Director. Stephanie oversees AEDC’s technical assistance and training programs, including its Entrepreneurship Assistance Center program, its fall and spring business skills “bootcamp” courses, general business counseling and its financial literacy program. She holds an MBA from Clarkson University and enjoys the many outdoor and cultural activities of her 1000 Islands hometowns.

Jamie Cecilia, who joined the team in 2023, is AEDC’ s Lending Director. Jamie oversees the organization’s small business lending operations, including deployment of ten state and federal loan fund sources and a 2022-launched private dollar fund (the “Adirondack Opportunity Fund”). He manages an organizational portfolio of 100+ loans. Jamie holds an MBA from Union College and an MPA from Syracuse University. He is an officer of the Au Sable River Valley Business Association and enjoys his free time exploring far-off-the-map Adirondack locations for the best native fish.

Stephanie Donaldson, AEDC

Jamie Cecilia, AEDC

AEDC Enjoys the Holiday Season with its Partners

AEDC’s Victoria Duley (far left) and Santana Vicencio-LaBarre (far right) with Beth Gilles of the Lake Champlain Lake George Regional Planning Board and Deana Derway of the Washington County Local Development Corp at the Adirondack Regional Chamber of Commerce holiday event at Fort William Henry, Lake George.

Holiday lights glowing with freshly fallen snow in the beautiful Adirondacks.

Cedric Carter of TD Bank and AEDC Board member and Victoria Duley of AEDC at TD Bank’s holiday luncheon in Clifton Park.

Ice sculpture at Joy to the Children charitable event in Lake Placid, attended by Heather Couture of NBT Bank and AEDC Board Treasurer and Victoria Duley.

About AEDC

Serving 14 counties of Northern New York State, the Adirondack Economic Development Corporation (AEDC) is a 501c3 non-profit economic development organization and Community Development Financial Institution (CDFI) based in Saranac Lake, NY. Since 1976, AEDC has been providing business training, lending, and technical assistance, to underserved populations and to new and existing businesses throughout Northern New York.

Small Business Loans & Financing

Technical Assistance

Minority & Women Owned Business

Financial Empowerment

Small Business

Trainings & Events