NYSEG’s $400,000 Economic Development Grant Supports Growth at Wagner Lumber in Owego
Owego, NY – NYSEG, a subsidiary of Iberdrola USA, has awarded Wagner Lumber a $400,000 economic development grant for electric infrastructure investments at Wagner’s Gaskill Road facility in Owego.
Wagner Lumber is expanding and upgrading its wood manufacturing facility with a modern process plant capable of producing more than 50% of the company’s former daily lumber output. The expansion is driven by growth in the wood processing and wholesale business in upstate New York with strong sales in the U.S., Middle East and Asia. The company will retain 85 full-time jobs and create over a dozen new full-time jobs.
“NYSEG and RG&E have a decades-long history of supporting growing businesses through our robust economic development programs,” said Mark S. Lynch, president and CEO of NYSEG and RG&E. “Wagner Lumber’s story is remarkable, having literally risen from the ashes following a devastating February 2014 fire. Recognizing the benefits this project brings to the region, and knowing that Wagner Lumber is committed to our community as evidenced by their $15 million rebuilding and expansion investment, makes us especially pleased to support them.”
"Wagner Lumber appreciates all the support and assistance that we received from NYSEG's economic development grant program,” said Les Wagner, president. “The Utility Infrastructure Investment Program Grant provided funding for our company's energy efficiency and productivity.”
Since 2010, NYSEG and RG&E have invested nearly $60 million to help existing businesses expand and to attract new business investments.
In 2014 alone, the companies invested more than $8.5 million in growing businesses across the companies’ upstate New York service areas. These grants supported approximately $558 million in capital investment and the addition or retention of approximately 4,100 jobs.
“By working closely with state and local economic development agencies and offering economic development assistance, we remain committed to growing jobs and helping ensure the economic well-being of the communities we serve,” Lynch said.