Several financial
incentive programs are available to qualifying businesses:
New York
Economic Development Rate (EDR)
Orange & Rockland offers a special incentive
rate to qualifying electric customers locating to — or expanding
within — our New York State service territory. This incentive is
designed to help ease the cost to customers who are making major relocation
or expansion decisions. The basic elements of the program are:
- An application must be submitted PRIOR to signing
a lease or purchasing a property. State the anticipated date on which
a lease will be signed, or the closing of sale.
- Provide suitable documentation that Applicant has qualified for and
will receive a comprehensive package of economic incentives conferred
by the local municipality or state authorities including substantial
financial assistance or a substantial tax incentive program designed
to maintain or increase employment levels in the service area.
- Customers must construct a new building, purchase or lease an existing
building that's been vacant for three months or expand an existing
building.
- New or expanding customers must add 100 kilowatts (kW) of separately
metered monthly electric usage to the O&R electric system.
- It provides a 20% discount off the electric delivery portion of the
rate to qualified commercial and industrial customers for five years.
- Customers must operate under a qualifying North American Industry
Classification System (NAICS) code.
Qualifying customers are classified by the NAICS as Manufacturing (Sector
31-33), Wholesale Trade (Sector 42), Transportation and Warehousing (Sector
48-49), Information (Sector 51), Finance and Insurance (Sector 52), Real
Estate, Rental and Leasing (Sector 53), Professional, Scientific and Technical
Services (Sector 54), Management of Companies and Enterprises (Sector
55), Administrative Support, Waste Management and Remediation Services
(Sector 56).
For more information about this program or to receive an EDR application,
please contact Rick Struck at 845-577-2498 or Toni
Graziano at
845-577-2516.
New
Jersey Job Development Rate
In New Jersey, Rockland Electric Company offers a Job Development Rate
(JDR) to qualified electric customers relocating or expanding within the
Rockland Electric Company service territory. In order to qualify for the
rate, the following requirements must be met:
- An application must be submitted PRIOR to signing
a lease or purchasing a property. State the anticipated date on which
a lease will be signed, or the closing of sale.
- Provide suitable documentation that Applicant has qualified for and
will receive a comprehensive package of economic incentives conferred
by the local municipality or state authorities including substantial
financial assistance or a substantial tax incentive program designed
to maintain or increase employment levels in the service area.
- Customers must construct a new building, purchase or lease an existing
building that's been vacant for three months or expand an existing
building.
- The space must be at least 7,500 square feet and require no additional
investment to serve the new load.
- The customer's overall employee count must grow.
- It provides a 20% discount off the electric delivery portion of the
rate to qualified commercial and industrial customers for five years.
- Customers must operate under a qualifying North American Industry
Classification System (NAICS) code.
For more information about this program or to receive a JDR application,
please contact Rick Struck at 845-577-2498 or Toni
Graziano at 201-236-6009.
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