| Contact: | Sunny Mindel/Curt Ritter (212) 788-2958 |
| Bernadette O'Leary 212/312-3523 (EDC) |
Energy Assistance Programs Tied To Economic Development
Mayor Rudolph W. Giuliani announced today that 31 manufacturing and industrial companies have been selected to receive low-cost electricity through programs administered by the New York City Economic Development Corporation (EDC). These energy assistance programs will enable the companies to lower their electricity costs by up to 20 percent and help them create approximately 1,015 new jobs in the City..
"The manufacturing industry is are an extremely important sector for New York City's economy. In fact, the City has the largest concentration of manufacturing in the United States," said Mayor Giuliani. "Providing energy benefits is another example of the City's commitment to help manufacturers and industrial firms expand and to ensure the future growth of our local economy."
The 31 companies will benefit from the New York City Public Utility Service (NYCPUS) or Business Incentive Rate (BIR) programs. Eligibility is based on job creation commitment and capital investments in property or equipment. Each company is required to enter into a contract with EDC in order to receive the electricity benefits.
NYCPUS is managed by EDC and provides approximately 20 percent discounts on electricity generated by the New York Power Authority for up to 12 years. Under the BIR program, EDC certifies the eligibility of companies and Con Edison provides a rebate of about 20 percent for 10 years on qualified companies' utility bills for electric services. The companies then receive reduced benefits for an additional five years.
In addition to the NYCPUS or BIR energy benefits arranged by EDC, several of the selected companies will also benefit from the Energy Cost Savings Program (ECSP), a program administered by the Department of Business Services. When ECSP is combined with the NYCPUS or BIR energy benefits, eligible companies' electricity costs will drop by about 50 percent, compared to Con Edison's regular rates
"Helping manufacturers and industrial companies is a priority item for the Giuliani Administration," said EDC President Michael Carey. "The City recognizes the high cost of electricity to businesses and is committed to making affordable energy accessible."
EDC marketed the availability of lower-cost electricity to New
York City-based industrial and manufacturing businesses through a direct mail
campaign conducted this past summer. The 31 energy assistance recipients constitute
a wide variety of manufacturing and industrial firms:
| 1. 21st Century Optics, Inc. | 17. Europadisk |
| 2. Allway Tools, Inc. | 18. Famco Distributors |
| 3. Al Skullcap Co. | 19. Gary Plastic Packaging Corporation |
| 4. Alvin J. Bart & Sons, Inc | 20. Graphic Technologies, Inc. |
| 5. B & I Fender Trim, Inc. | 21. Keystone Electronics Corporation |
| 6. Barough Eaton Allen | 22. Invincible Business Forms, Inc. |
| 7. Betsy's Place, Inc. | 23. LSK Smoked Turkey Products, Inc. |
| 8. Century Letter Company, Inc. | 24. Mercury Paint Corporation |
| 9. Citterio USA Corporation | 25. Modern Suppliers & Manufacturers |
| 10. Cofire Paving Corporation | 26. National Reprographics, Inc. |
| 11. Colahan-Saunders | 27. OMC, Inc. |
| 12. Comco Plastics, Inc. | 28. Plaza Packaging Corporation |
| 13. Cox & Companies, Inc. | 29. Premier Paint Roller Manufacturing |
| 14. Crystal Windows & Door Systems, Ltd. | 30. Prompt Mailers, Inc. |
| 15. Elmhurst Dairy, Inc./Honeywell Farms | 31. Ro-An Industries Corporation |
| 16. Enterprise Press, Inc. |
EDC encourages manufacturing and industrial companies considering expansions to apply for these energy assistance programs. For more information, contact EDC at (212) 312-3600.
EDC is the City's primary vehicle for economic development services. Using
its real estate and financing resources, it helps develop businesses and create
jobs throughout the five boroughs.