March 30, 2010 – National Grid has awarded nearly $1 million to further develop and enhance two major economic development projects in Schenectady County. The funds have been approved for two projects, one to Metroplex, Schenectady County’s Economic Development organization and the other to BN Partners for the rehabilitation of a site that is now home to the new Golub Headquarters project.
Metroplex received a $763,000 Urban Center/Commercial District Revitalization grant to benefit a project that will link State Street and the Proctors block redevelopment area in downtown Schenectady to Union College and Union Graduate College. The project includes the rehabilitation and expansion of Center City, a $30 million mixed use commercial, retail, and tech complex that also features a new YMCA branch. A new five-story addition to Center City is currently under construction. The new pedestrian walkway that will link Center City to the two colleges will include energy efficient LED lighting and will serve as a connector between the two colleges and the growing downtown.
In addition, National Grid provided a $200,000 Brownfield Redevelopment Assistance grant from National Grid for the cleanup of the ten-acre former “Big N” site. As a result of this rehabilitation project, the site was chosen as the home of the new, LEED certified Golub Headquarters, a $30 million project that is nearing completion just a few blocks from the new Center City complex. The new Golub Headquarters will bring 850 jobs to downtown Schenectady and represents a $37 million investment.
“National Grid works with the local communities it serves to be a valued corporate neighbor,” said Tom King, president of National Grid in the U.S. “Projects such as these promote economic growth and can create local jobs like we are seeing right here in Schenectady County. National Grid is proud to be able to support projects that link community resources and provide environmentally responsible solutions to doing business.”
Congressman Paul Tonko said, “Investments in our cities are investments that pay off for the entire region in terms of economic development, jobs and recreation. I want to thank National Grid for working in partnership with government and other local businesses to improve and strengthen the downtown Schenectady area and contribute to its vibrant rebirth.”
National Grid’s Economic Development programs provide various grants to support business and economic growth within the company’s service territory.
“Schenectady County’s economic development team works closely every day with National Grid to bring new jobs and new investment to our community. We appreciate National Grid’s commitment to rebuilding our economy. These two grants helped our economic development team secure almost $70 million in new investments in our County,” said Vincent Di Cerbo, Chair of the Schenectady County Legislature’s Committee on Economic Development and Planning.
National Grid’s Urban Center grant is available for major urban areas that receive matching grants over a two-year period for major neighborhood revitalization projects.
The Redevelopment grant is awarded to assist with utility-related infrastructure improvements, demolition, and other costs necessary for the redevelopment of a “brownfield” site or abandoned building.
These National Grid grants are part of the company’s comprehensive economic development plan for upstate New York. In 2009, National Grid support for economic development totaled $6.9 million in upstate New York including $1.9 million for 22 projects for eastern New York. For more information and program descriptions, visit National Grid’s Economic Development website at: http://www.shovelready.com/
National Grid is an international energy delivery company. In the U.S., National Grid delivers electricity to approximately 3.3 million customers in Massachusetts, New Hampshire, New York and Rhode Island, and manages the electricity network on Long Island under an agreement with the Long Island Power Authority (LIPA). It is the largest distributor of natural gas in the northeastern U.S., serving approximately 3.4 million customers in Massachusetts, New Hampshire, New York and Rhode Island. National Grid also owns over 4,000 megawatts of contracted electricity generation that provides power to over one million LIPA customers.