Take a NY Minute – Our KEDNY-KEDLI rate case agreements

What’s happening with Economic Development?

This article is one of a series that will help create awareness on the major components of our KEDNY/KEDLI rate case agreements..

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We’ve always had a strong commitment to our customers and communities. And our rate case agreements provide even more funding and economic development opportunities to improve the vitality of the communities where we live and work. The new, customized programs for downstate New York are based on feedback from regional stakeholders.

“We’re very excited about the additional funding that’s part of the agreements,” says Art Hamlin, Director, Economic Development & Corporate Citizenship. “We’re looking forward to building on the success and lessons learned from our ground-breaking Cinderella and Superstorm Sandy Emergency programs. In addition to the increased funding, a new employee will be hired to help manage these programs.”

The agreements increase economic development funding from less than $500K combined for both KEDNY and KEDLI to $2M a year for each company. Both companies will have the ability to shift funds across programs based on customer demands, regional economic development priorities and market conditions. The goal is to generate business growth that will create jobs while also promoting clean energy and new technologies.

Here are the highlights for the new economic development programs for both KEDNY and KEDLI:

  • Urban Revitalization – an expansion of our long-standing, widely recognized Cinderella program, to support the redevelopment of vacant commercial and mixed-use buildings and revitalization of distressed commercial districts
  • Infrastructure Assistance – a new capital investment incentive to help offset the cost of upgrading gas infrastructure for growing commercial and industrial customers
  • Brownfield and Industrial Building Redevelopment – two new programs to support remediation and redevelopment of brownfield sites and vacant commercial/industrial buildings, respectively
  • Sustainable Gas and Economic Development – this program is designed to complement what we are doing with the REV proceeding and demonstration projects in New York.
  • Manufacturing Productivity – this program will fund productivity improvement and growth projects for small and medium sized manufacturers that use gas in their processes
  • Cleantech Incubation – an innovative grant program to support new incubator facilities and programs that promote start-up and growth of clean energy and other high-tech businesses
  • Cooperative Business Recruitment– this program will offer grant funding to help attract new gas-consuming businesses to National Grid’s service territory

 

KEDNY-KEDLI Rate Case series:

Modernizing our gas system
Leveraging gas operation technologies
Gas safety performance metrics and compliance
Gas expansion and growth
Proposed REV Demonstration Projects in DNY
Enhancing the customer experience
Helping our most vulnerable customers
What’s happening with Economic Development?
Hitting the ground running – our implementation plan

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