Electric Capital Investment incentive supports local projects
SYRACUSE, N.Y. – Just about everywhere you look in upstate New York, you’ll find National Grid supporting and encouraging business growth. One recent example is the company’s $220,000 Electric Capital Investment Incentive that helped Anoplate Corporation defray costs associated with an expansion project at its Syracuse headquarters.
Anoplate is one of the largest and most respected metal finishing companies in the U.S., with over 220 dedicated employees who deliver world-class finishing services and products for customers worldwide.
“Without the National Grid Capital Investment Incentive program we couldn’t grow,” said Jim Stevenson, Anoplate Corp. president and CEO. “We are very thankful to National Grid for their commitment in supporting local businesses like ours in Central New York.”
Designed to help offset costs associated with upgrading utility infrastructure to accommodate business expansion or new construction, the Electric Capital Investment Incentive supports projects located in National Grid’s upstate New York service territory. The incentive is part of the company’s suite of economic development programs for upstate. Since the program’s inception in 2003, National Grid has provided an estimated $25.2 million in Capital Investment Incentives to businesses across the region.
“National Grid is committed to Central New York businesses and the communities we serve,” said Alberto Bianchetti, National Grid Central New York Regional Executive. “Anoplate will increase their annual capacity and allow the company to grow, stay competitive, and better serve their customers. Supporting the economic vitality of our region’s employers benefits all our customers.”
Since 2003, National Grid has provided an estimated $100 million in economic development funding to projects in Upstate New York, helping to create or retain nearly 50,000 jobs and leveraging more than $9 billion in other private and public investment. The company’s suite of upstate New York economic development programs range from site development, urban revitalization, strategic marketing, and facilitating customer growth through infrastructure assistance, energy efficiency and productivity improvement.
The program reflects an increasing emphasis on sustainable development, the efficient use of existing energy infrastructure, and the strategic deployment of renewable generation technologies. For more information and eligibility requirements, please visit www.shovelready.com.