NYSEG Announces $400k Economic Development Grant for Binghamton University

BINGHAMTON, NEW YORK - April 26, 2018  New York State Electric & Gas (NYSEG), a subsidiary of AVANGRID Inc., a diversified energy company announced a $400,000 economic development grant for Binghamton University this afternoon. NYSEG and Binghamton University employees had a chance to tour the new Smart Energy Building at the university's Innovative Technologies Complex (ITC) in Vestal.

This latest award, presented by Carl A. Taylor, MBA 98, President and Chief Executive Officer of NYSEG and Rochester Gas & Electric, to Binghamton University President Harvey Stenger, brings the total up to $1.2 million in funding which NYSEG has granted to the university.

This total grant assistance was provided to help support three Binghamton University projects under the company's economic development electric infrastructure programs. These grant programs are designed to help businesses and institutions like Binghamton University grow and become catalysts for economic activity across New York. The goal is to help offset electric-related infrastructure improvements as well as to research, develop and promote energy-efficient systems.

We're extremely grateful to NYSEG for its support through the years. The utilitys financial contributions have been significant and have allowed our University to continue to expand not only our footprint but our energy-efficient efforts, said Stenger. We take our mission to help revitalize the areas economy very seriously, and through this NYSEG incentive program, we are able to undertake large projects like the Smart Energy Building, and save money on construction-related costs.

NYSEG President and CEO, Carl A. Taylor said, NYSEG is proud to have continued collaboration with such a prestigious university over the last decade and its efforts to help our communities move forward when it comes to cleaner energy. This latest contribution to
Binghamton University is one of many ways our company is becoming a leader in the energy industry by helping develop and provide more options for customers which will assist in their ability to reduce their energy usage.

Prior to 2011, universities and other academic institutions were not eligible to access these grant funds. Binghamton University filed a petition with the New York State Public Service Commission requesting a change to the program and it was granted. NYSEG and New York State Assembly Member Donna Lupardo, MA 83 (D-Endwell) actively supported this modification.

The expansion we've seen on campus over the last few years has helped establish Binghamton University as a leading research institution, Lupardo said. This growth takes collaboration with a number of partners, including NYSEG. Their economic development programs continue to assist Binghamton University with important electrical infrastructure upgrades.

Binghamton's $70 million Smart Energy Building was completed last summer and opened in fall 2017. The building accommodates research and development initiatives for the departments of chemistry and physics. Laboratories, classrooms and offices allow faculty and students to work side by side with industry scientists and engineers to create new energy technologies, and help to maintain and expand the regional workforce. The building design also incorporated multiple energy-efficient systems.

During the design and construction phase of this project, the investments made to build the Smart Energy Building had an economic impact of $90.7 million on the Broome/Tioga region. These expenditures also supported 915 local jobs, including 366 direct construction jobs.