SYRACUSE, N.Y. — National Grid invested more than $2.6 million in economic development funds in calendar year 2021 for projects in central and northern New York aimed at growing the regional economy.
The company maintains a portfolio of economic development programs to restore vacant buildings, revitalize commercial corridors, and remediate brownfields to spur new business, expansion, and job growth.
“National Grid is more than just an energy delivery company,” said Alberto Bianchetti, regional director for National Grid. “We contribute to the engine powering the local economy by incentivizing projects that remediate and revitalize brownfields and vacant storefronts, promote entrepreneurship, and keep businesses in Central New York. These investments fuel economic growth, job creation and retention, and new business opportunities that have a positive impact on everyone living in the region.”
National Grid’s economic development programs align with the goals of Project C, a reaffirmation of the company’s commitment to the communities in which its employees live and work. The initiative is dedicated to leaving a lasting impact in areas including sustainability, neighborhood and community investment and workforce development.
“Communities directly benefit from National Grid’s economic development efforts as we help local businesses grow and attract new development to our region,” Bianchetti said. “Our customers see tangible benefits from these investments through an expanded job market, access to new businesses, and reinvigoration of the places where they live.”
National Grid contributed to the creation of the area’s first food hall, projects that created and retained local jobs, and the renewal of blighted properties in highly trafficked commercial areas, including:
Litatro building project renews prime location in Oswego
Project: A $4.9 million renewal project in the center of Oswego turned an empty building into a vibrant, modern space. Demolishing the former Global Buffet building and constructing the five-story Litatro building at the corner of West First and Bridge Streets brought more than 20 market-rate apartments, plus commercial and restaurant space.
Funding: $65,000 from the Main Street Revitalization program.
Healthway Home Products retains 30 jobs and stays in Pulaski
Project: A public-private partnership prevented a Pulaski business from relocating to Florida. Healthway Home Products expanded its Maple Avenue building in Pulaski, and an upgrade in electric service to a higher amperage provided the capacity to support growth and operations.
Funding: $19,000 from the Electric Capital Investment Incentive program.
National Grid’s Economic Development Programs
Since 2003, National Grid’s 18 economic development programs have provided more than $125 million in assistance, helping to create or retain more than 60,000 jobs and supporting almost $10 billion in private and public investment across upstate New York. More information about National Grid’s suite of programs is available at www.shovelready.com.
Additionally, National Grid provides economic development support during the pandemic through its Manufacturing Productivity Program. The program fast tracks economic development requests to assist businesses that transitioned their facilities to produce critical medical equipment and supplies needed to fight COVID-19.
About National Grid
National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York, Massachusetts and Rhode Island. National Grid is transforming our electricity and natural gas networks with smarter, cleaner, and more resilient energy solutions to meet the goal of reducing greenhouse gas emissions. As part of our commitment to a clean energy future, National Grid is a Principal Partner for COP26, the United Nation’s November 2021 global climate summit.
For more information, please visit our website, follow us on Twitter, watch us on YouTube, like us on Facebook, and find our photos on Instagram.
Press release from National Grid.
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