NYSEG Provides Grant to Support Corning Incorporated’s Expansion in New York

NYSEG Provides Grant to Support Corning Incorporated’s Expansion in New York

NYSEG also Fast Tracks Electrical Infrastructure Upgrades to Corning’s Facility in Erwin

BINGHAMTON, NY - July 20, 2018 - NYSEG, a subsidiary of AVANGRID Inc., a diversified energy company, has provided a $440,000 economic development grant to Corning Inc. (NYSE: GLW) to offset electric and natural gas infrastructure costs associated with Corning’s recently completed expansion project in Big Flats, NY.

This grant, presented by Carl A. Taylor, President and CEO of NYSEG and RG&E, was part of today’s event at Corning’s Environmental Technologies manufacturing facility in Erwin, NY, where NYSEG employees were acknowledged for their role in completing vital electrical upgrades.

In late 2017, Corning expanded its Corning Innovation Support Center in Big Flats to support a transition from an incubator research and development facility to a production facility for Corning Valor® Glass, a revolutionary pharmaceutical glass package. The investment for this project is expected to create 185 new jobs and support more than 380 jobs overall in the Southern Tier of New York.

NYSEG worked with other community partners and supported this project through economic development grant assistance for both electric and natural gas infrastructure costs. NYSEG provided $240,000 through its Capital Investment Incentive Program to help offset electric infrastructure upgrades and $200,000 through its Natural Gas Infrastructure Investment Program toward natural gas service upgrades.

In addition, NYSEG’s Elmira Division employees worked very closely with Corning officials to expedite enhancements to electric infrastructure at Corning’s Environmental Technologies manufacturing facility in Erwin, where it produces emissions products for the truck and off-road construction industry.

NYSEG and RG&E President and CEO, Carl A. Taylor said, “NYSEG and RG&E continue to support high tech industries to further grow the manufacturing sector and bring good-paying jobs to New York. I would like to acknowledge the incredible work by our Elmira team to expedite and complete upgrades at Corning’s facility located in Erwin that will provide the power needed for additional upgrades and growth by Corning.”

“We’re extremely thankful for our longtime relationship with NYSEG,” said Patrick Jackson, director, Corning Global Energy Management. “Their ability to provide state-of-the-art, reliable energy promotes Corning’s innovative approach to manufacturing and engineering that ultimately leads to developing category-defining products that transform industries and enhance people's lives. Moreover, NYSEG’s support for business development stimulates the local and state economies and contributes to New York’s business-friendly environment.”

NYSEG is continuing to work with Corning for potential future growth at the Environmental Technologies facility in Erwin.

NYSEG’s Capital Investment Incentive Program provides assistance for electric-related infrastructure improvements on company-owned or customer-owned equipment and other costs necessary for the construction of a new building or an addition to or redevelopment of an existing building. Funds are targeted for business projects that involve major capital investment in plants and equipment. Support is considered based upon the project’s overall economic impact to the community.

The Company’s Natural Gas Infrastructure Investment Program provides funding assistance to fund natural gas related infrastructure improvements on equipment either owned by the company or the customer. These improvements can involve existing or prospective customers and can be either stand-alone or in a business/industrial park. Actual grant awards are commensurate with the magnitude of each project including capital investment and infrastructure improvements.

Since 2010, NYSEG and RG&E have provided over $85 million in economic development assistance to support over 450 projects leveraging over $4.4 billion in private sector and capital investments. For more information on the companies’ economic development programs, visit Look Upsate NY.