RG&E Provides Lagoner Farms with Funding to Expand, Create New Jobs

Funds Provided Through Grant Program Supporting Electrical Infrastructure Upgrades for Agriculture Companies in New York

ROCHESTER, NY — June 4, 2018 — Rochester Gas and Electric (RG&E), a subsidiary of AVANGRID, Inc. (NYSE: AGR), today announced that Lagoner Farms has received $15,497 in grant assistance from the company to support electrical upgrades that will allow Lagoner Farms to expand their operations.

Lagoner Farms is a fifth generation farm supplying fresh, homegrown produce to the greater Rochester area for more than 100 years. Located in Williamson, NY, Lagoner Farms has diversified the crops grown on the farm, increased wholesale outlets, expanded its farmer's markets, built a retail market, transitioned 6 acres of farmland to organic practices, and started a cider company called Embark Craft Ciderworks. These efforts have had a major impact on the cider market during the past year. In addition, Lagoner Farms’ products can be found in many food markets across the region.

Lagoner Farms has invested approximately $276,000 for its expansion project and as the business continues to grow, electrical service and capacity need to be addressed. Upgrades are needed to meet growing product demand.

“RG&E and NYSEG are committed to growing the agricultural sector across New York while we also improve and harden our electrical infrastructure,” RG&E & NYSEG President and CEO Carl A. Taylor said. “While we offer financial support through various economic development programs, the Agriculture Capital Investment Incentive Program was created to assist companies like Lagoner Farms with upgrading their single- phase service to three-phase power in order to meet growing demand for their products.”

Agriculture Capital Investment Incentive Program
Funds for the project came from RG&E’s Agriculture Capital Investment Incentive Program which provides grant assistance of up to $100,000 to help offset electric-related infrastructure improvements on either utility-owned or customer-owned equipment. Through enhancements to this program, RG&E as well as NYSEG, also a subsidiary of AVANGRID, can provide assistance to the craft beverage industry which includes wineries, distilleries, micro-breweries, and cider farms. Decisions on actual awards are commensurate with the level of capital investment, electric load, and overall improvements. The intent in many instances is to help this industry convert from single-phase to three-phase power to grow their business and install new technologies. The project must involve capital investment of at least $50,000 toward facility and/or equipment purchases. Since 2010, RG&E and NYSEG have supported 19 projects investing approximately $1.25 million through the program helping to create or retain 275 jobs.

Since 2010, RG&E and NYSEG have provided more than $85 million in overall economic development assistance to support over 450 projects leveraging over $4.4 billion in private sector and capital investments.