BGE’s Smart Energy Economic Development Program Results in Up To 1,100 Planned Jobs
June 07 2016 - 5:14PM
Business Wire
Program Aims to Boost Business Retention and
Growth in Central Maryland
Since its September launch, Baltimore Gas and Electric Company’s
(BGE) Smart Energy Economic DevelopmentSM (SEEDSM) Program has
approved incentives for 13 businesses, resulting in up to 1,100 new
planned jobs. To qualify for the program, businesses must add
electric and/or natural gas load to BGE’s system and create new
full-time employment.
“The SEED Program is another example of how BGE can positively
impact our community. Providing targeted economic incentives to
businesses allows them to invest those cost savings in their own
growth. This helps to keep Maryland’s economy strong which benefits
everyone in our service area,” said BGE CEO Calvin Butler, Jr.
Thirteen applications have been approved, with nine in Baltimore
City, two in Harford County and one in both Baltimore County and
Prince George’s County. Nearly 600 of the planned jobs reported by
these businesses will be created in Baltimore City. These planned
jobs also support BGE’s commitment to BLocal, which features
Baltimore-area businesses working together to help strengthen the
city.
“We’ve been pleased by the business community’s response and are
thankful for the support we’ve received from economic development
groups throughout our service territory. 1,100 potential jobs is a
great start and we will continue to push for more to help keep the
state’s economy strong,” said Ammanuel Moore, BGE’s economic
development manager.
The SEED Program was developed in order to meet the needs of
contemporary businesses. Compared to the company’s previous
economic development program, SEED offers larger discounts and fee
reductions and also applies to natural gas service for the first
time.
Commercial customers that apply and qualify 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/20160607006750/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