NYSEG and RG&E will provide matching grants of up to $200,000 per development annually to municipal economic development entities, non-profit development organizations and private developers involved in efforts to revitalize a municipality defined target area. The program is designed to assist the company's economic development partners promote private sector investment in distressed business corridors and districts.
The program’s goals include increasing jobs, property tax bases, and promoting sustainable investment in commercial corridors and neighborhoods. These sustainable investment opportunities may include designated districts or zones (i.e., eco-districts). This program will provide funding assistance for electric infrastructure, lighting installations associated with street improvements, site preparation, building rehabilitation and other hard costs deemed appropriate by the development agency in revitalizing the area.
In addition, the company will provide up to $20,000 with 50% matching funds toward the development of pre-construction drawings to advance an urban design plan associated with the proposed project.
- Initiative must promote a specific target area as identified and supported by the municipality.
- Prospective recipient must demonstrate efforts to obtain state and federal economic development incentives.
- Applicant must demonstrate the ability to retain and/or attract jobs and capital investment to the targeted area.
- Recipient must be the owner or leaseholder of facility and must be current in payments to the company or have a deferred payment agreement in place and current (existing customers).
Please contact a NYSEG/RG&E economic development representative to check on the availability of funding assistance under the economic development programs. Click here to email us.