Binghamton University Economic Development Grant
2/26/2014 (Updated 10:48:01 PM)Today NYSEG presented Binghamton University with two $400,000 economic development grants, for campus expansion projects.
NYSEG CEO Mark Lynch and BU president Harvey Stenger say the grants will be used for the construction of BU's $30 million center for excellence and for it's $33.6 million science 5 building.
"You have to run in new power-lines, you have to put in new pipe-lines, you have to put in furnaces, and that expansion is very expensive. And so what they are trying to do is help you with the cost of that expansion because they know you're one of their important customers," said Binghamton University President Harvey Stenger.
"Anytime you look at providing growth in your service territory providing economic development that instantiates additional jobs and drives the economic engine it's good for your company. Remember we're apart of this community too," said President and CEO of NYSEG and RG&E Mark Lynch.
Prior to 2011, universities were not allowed to access such grants from NYSEG.
But BU petitioned the public utilities commission to change that rule.
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