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 an extremely important sector for New York City s economy. 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.
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. 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. The City recognizes the high cost of electricity to businesses and is committed to making affordable energy accessible. Century Optics, Inc. 2.