NYSEG and RG&E Continue To Provide Support for Economic Development Initiatives Throughout New York State
Assistance for 67 projects Expected to Create and Retain over 6,500 Jobs
ROCHESTER, NY April 30, 2018 New York State Electric & Gas (NYSEG) and Rochester Gas and Electric (RG&E), subsidiaries of AVANGRID, Inc. (NYSE: AGR) today announced that the two companies provided more than $10.25 million in economic development assistance to 67 businesses and organizations that will leverage over $622 million in additional private sector and capital investments. These investments will contribute to the creation or retention of more than 6,500 jobs across New York State. Further information is contained within the companies annual economic development report to the New York State Public Service Commission.
NYSEG and RG&E are committed to the development of high tech industries such as clean energy and innovative technologies to further grow the manufacturing, agricultural, education and many other sectors across New York, NYSEG & RG&E President and Chief Executive Officer Carl A. Taylor said. The companies offer a host of economic development programs and incentives that not only support a strong and healthy economy, but also spark ongoing efforts to turn our communities into attractive places for families to live, work, and play.
NYSEG and RG&E provide grant assistance for new construction, brownfield and mixed-use building redevelopment, as well as to various municipal economic development entities, non-profit organizations and private developers involved in promoting sustainable investments to revitalize distressed business corridors and districts. The companies aim to spur new capital investment and jobs for municipalities through funding assistance for electric infrastructure and lighting installations associated with street improvements.
The companies also offer program assistance to help the various business sectors become more energy efficient and for the manufacturing sector to become more competitive in the global marketplace. These initiatives are part of NYSEG and RG&E's ongoing, strong collaborative effort with economic development/community partners at the local, regional and state levels.
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.
2017 NYSEG Project Highlights
Corning Inc. is installing a new line to produce new Valor Glass at its Big Flats manufacturing plant which will occupy approximately 85,000 square feet of floor space. This new line will be used for packaging in the pharmaceutical industry. NYSEG, working in partnership with Empire State Development and other community partners, will help offset costs for electric and natural gas infrastructure upgrades for the new line. The project at the Big Flats facility is expected to result in capital investments of approximately $44 million and create up to 133 new jobs for the Southern Tier.
The Gunlocke Company, LLC, an office furniture company, relocated two of its production lines from Indiana to its location in the Southern Tier. NYSEG, working in partnership with Empire State Development and the Steuben County Industrial Development Agency, helped to offset electric infrastructure costs required for these new lines. This business attraction project is expected to generate approximately $2 million in investments retaining 601 jobs, and creating up to 110 new full-time jobs at the 115-year old company.
Binghamton University has opened its new $70 million, 114,000 square-foot Smart Energy Building to accommodate research and development initiatives for its chemistry and physics departments. This project includes space for faculty, students and industry scientists and engineers to work side by side to create new energy technologies and maintain and expand the regional workforce. The facility was constructed to LEED Gold standards and includes a green roof, hydronic radiant heating in the floor and controlled LED lighting. NYSEG worked in partnership with its community partners to help offset the costs associated with electric infrastructure upgrades required for this project.
2017 RG&E Project Highlights
Kodak Alaris, a global technology company manufacturing state-of-the art scanners and premium photo products, finalized plans to relocate operations locally to the Rochester Technology Park (RTP). The 250,000 square-foot space in the RTP will serve as their U.S. headquarters comprised of approximately 170,000 square feet for professional business use and labs and the remaining 80,000 square feet will be used for light manufacturing and warehouse space. RG&E, working in partnership with the RTP, Empire State Development, the County of Monroe, Greater Rochester Enterprise and other community partners, will help support electric infrastructure and energy efficiency improvements.
Minitec Framing Systems Inc., a manufacturer of large scale framing systems, is relocating to Farmington in Ontario County. RG&E, working with the Ontario County Industrial Development Agency and other community partners is providing economic development assistance for electric infrastructure upgrades for this project that is expected to generate approximately $4.4 million in investments and will create and retain more than 30 jobs.
OFD Foods, the largest custom processor of freeze-dried products, will expand its operations for the first time in New York State. OFD plans to construct a new 50,000 square-foot facility to better serve its Midwest and East Coast customer base. RG&E worked in partnership with Empire State Development, Greater Rochester Enterprise, the County of Monroe, and other community partners, to support this project that will inject $25 million into the local economy and the create 30 full-time jobs.
For more information on the companies economic development programs, visit http://www.lookupstateny.com/