NYSEG Supports CVS Distribution Center With $1.5 Million in Economic Development Funding
NYSEG and RG&E Investing Nearly $40 Million in Growing Businesses Through 2013
Rochester, NY – NYSEG recently presented the final $200,000 of $1.5 million in economic development grants toward the development of CVS/pharmacy’s new $100 million, 751,000-square-foot distribution center in the Town of Chemung (Chemung County). The distribution center is expected to employ approximately 600 people over time.
From September 2010 through December 2013, NYSEG and RG&E (NYSEG’s sister company, Rochester Gas and Electric) will invest nearly $40 million in economic development funds to businesses that want to expand in, or relocate to, upstate New York.
“The CVS project is exactly what the NYSEG and RG&E economic development programs are designed for,” said Mark S. Lynch, president of NYSEG and RG&E. “These grants are great catalysts for new capital investments that protect and create jobs in upstate New York.”
In August 2009, NYSEG, Tri-County Rural Electric Cooperative, CVS Rx Services and the Chemung County Industrial Development Agency (IDA) entered into a project funding and construction agreement that enabled the design, construction, operation and maintenance of 34.5-kilovolt primary and alternative electricity services from Athens, PA to a metered NYSEG exchange point to serve the new CVS facility.
“Grants from the Chemung County IDA and economic development assistance from NYSEG sealed the deal with CVS,” said George Miner, director of the Chemung County IDA. “Further, NYSEG’s cooperation in developing a creative solution to provide power to the site and CVS’s comfort with NYSEG as a reliable energy supplier were critical in making this project a reality.”
“NYSEG and the Chemung County IDA have been terrific partners in the development of our new distribution center,” said Ron Link, senior vice president of supply chain & logistics at CVS/pharmacy. “Their support was an important part of our project’s ability to contribute to economic development in Southern New York.”
For more information or to apply for NYSEG economic development assistance, visit www.lookupstateny.com or www.nyseg.com.