First Year of BGE’s SEED Program Provides Energy Discounts to Businesses Contributing to Job Creation in Maryland
October 20 2016 - 4:34PM
Business Wire
Since its launch in September 2015, Baltimore Gas and Electric
Company’s (BGE) Smart Energy Economic DevelopmentSM (SEEDSM)
Program has approved incentives for 19 businesses which are
expected to contribute to the addition of nearly 2,400 new jobs in
Maryland. New and expanding businesses creating new full-time
employment can qualify for SEED discounts on natural gas and
electric connection and usage costs.
“A strong economy is vital to having a strong community and by
providing incentives to businesses through the innovative SEED
Program, we can help stimulate growth and job creation,” said BGE
CEO Calvin Butler Jr. “This is truly a partnership with the state
of Maryland, business groups and business customers. By working
together we will continue to move smart energy forward, which
benefits the whole region.”
Nineteen SEED applicants have been approved with 11 in Baltimore
City, four in Harford County, three in Baltimore County and one in
Prince George’s County. More than 600 of the planned jobs reported
by these businesses will be created in Baltimore City. The planned
jobs in Baltimore City also support BGE’s commitment to BLocal,
through which Baltimore-area businesses are working together to
help strengthen the city.
“The response from the business community shows that there is a
strong desire to build in the area. 2,400 potential jobs is a great
start and we will continue to work hard to get more participants,”
said Ammanuel Moore, BGE’s economic development manager. “We are
thankful for the support we’ve received from economic development
groups in spreading the word about SEED.”
The SEEDSM Program was developed to meet the needs of
contemporary businesses by offering larger discounts than previous
incentive programs and by adding natural gas discounts in addition
to electricity incentives.
Qualifying commercial customers receive BGE incentives that:
- Discount charges (demand, distribution
and customer) by 25 percent for electric and natural gas
service,
- Offer a 75 percent discount on BGE
construction costs to extend and expand service to businesses
located in a Maryland Enterprise Zone,
- Eliminate a minimum usage requirement
for businesses located in Enterprise Zones to allow small
businesses to take advantage of the program.
For more information about the economic development programs and
incentives that BGE offers to help move smart energy forward,
please visit http://www.BGE.com/economicdevelopment or contact BGE
Economic Development at economicdevelopment@bge.com.
BGE, founded in 1816 as the nation’s first gas utility, is
Maryland’s largest natural gas and electric utility. Headquartered
in Baltimore, BGE delivers power to more than 1.25 million electric
customers and more than 650,000 natural gas customers in central
Maryland. The company’s approximately 3,200 employees are committed
to the safe and reliable delivery of natural gas and electricity,
as well as enhanced energy management, conservation, environmental
stewardship and community assistance. BGE is a subsidiary of Exelon
Corporation (NYSE: EXC), the nation’s leading competitive energy
provider. Like us on Facebook and follow us on Twitter, YouTube and
Flickr.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161020006598/en/
Baltimore Gas and Electric Company (BGE)Richard Yost,
richard.yost@bge.comBGE Media Hotline: 410-470-7433
Exelon (NYSE:EXC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Exelon (NYSE:EXC)
Historical Stock Chart
From Apr 2023 to Apr 2024