New Windsor, N.Y. (August 2, 2011) – Consolidated Edison Company of New York, one of the nation’s largest investor-owned energy companies, has been named one of NY BioHud Valley’s founding members.
Founding members support the unifying efforts by the biotech industry in the Hudson Valley. The NY BioHud Valley campaign is designed to reinforce that the Hudson Valley is the epicenter of the biotech industry in New York.
Con Edison has special reduced energy rates to attract and retain businesses and jobs in New York City and Westchester County through the company’s Business Incentive Rate (www.coned.com/ecodev/bus_incentive_rate.asp). Businesses that reoccupy vacant commercial or industrial buildings, move into newly constructed ones, construct biomedical research facilities, or negotiate a comprehensive package of incentives from state or local authorities, or are designated as Business Incubators or are Business Incubator graduates may qualify for reduced electric rates.
“Consolidated Edison is proud to be a part of the innovative NY BioHud Valley, which will be a boon to Westchester County. With the launch of this creative initiative, Westchester County will continue to be a leader in attracting world-class biotech businesses,” said Frances A. Resheske, Con Edison senior vice president for public affairs. “Our Business Incentive Rate, which makes biomedical research facilities eligible for reduced electricity costs, is just one example of the many financial incentives that make Westchester County attractive to prospective businesses.”
Hudson Valley Economic Development Corporation recognizes the area as a growing cluster of biotech/pharmaceutical companies located in the lower Hudson Valley region. The NY BioHud Valley partners with the county, state and federal government levels to provide an environment allowing these businesses to expand while also attracting new businesses into the region by showcasing the existing infrastructure, highly educated workforce, proximity to world-class research, ready access to venture capital and competitive real estate opportunities. In addition NY BioHud Valley creates a pro-business advocacy campaign designed to reduce legislative burdens, foster collaboration among our biotech/pharmaceutical companies and educational institutions and assist companies with access to venture capital.
“It is truly exciting news that Con Edison is becoming a big part of NY BIOHUD VALLEY,” said Mike Oates, CEO and President of the HVEDC. “As this important cluster continues to grow, we will need the support of companies like Con Edison to help provide business solutions to meet the cluster’s growing needs. Con Edison is committed to working with the biotech companies in the region and will assist us as we work to attract new companies. We are thrilled to have them as part of the team.”
“The growth of any successful biotech cluster is – in a large part – dependent upon building a strong partnership with your largest regional utilities,” said Westchester County’s Director of Economic Development, Larry Gottlieb. “As a Founding Member, ConEd will help strengthen NY BioHud Valley’s position as a powerful economic engine driving growth for the Hudson Valley region, as we continue developing the strongest biotechnology corridor in the nation.”
Other founding members are: Acorda Therapeutics, Astellas Pharma US Inc., Aureon Biosciences Inc., BioMed Realty Trust Inc., C.W. Brown Inc., IBM, M&T Bank, Morgan Stanley Smith Barney, National RE/Sources, New York Medical College, Better Homes and Gardens Real Estate – Rand Commercial Services, Regeneron and TD Bank.
About Consolidated Edison: Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation’s largest investor-owned energy companies, with approximately $13 billion in annual revenues and $36 billion in assets. The utility provides electric, gas and steam service to more than 3 million customers in New York City and Westchester County, New York.
Consolidated Edison, Inc. is a Dow Jones Sustainability Index company. The global Carbon Disclosure Project (CDP) has ranked Consolidated Edison, Inc. No. 1 among all S&P 500 companies in its 2010 Carbon Disclosure Leadership Index, as well as No. 1 among utilities in the CDP’s new Carbon Performance Leadership Index. Consolidated Edison, Inc. also has been recognized for its environmental performance by the U.S. Environmental Protection Agency, the U.S. Department of Energy and other organizations.
For additional information, visit us on the Web at www.conEd.com, at our green site, www.conEd.com/thepowerofgreen, or find us on Facebook at Power of Green. For more information about Con Edison’s Business Incentive Rate, contact Deborah Patterson, 914-925-6459 or PattersonDe@coned.com.
About Hudson Valley Economic Development Corporation (HVEDC): HVEDC represents seven counties in Hudson Valley. This public-private partnership markets the region as a prime business location to corporate executives, site selection consultants and real estate brokers. HVEDC also helped start the branding and promotional effort for NY BioHud Valley. For more information on Hudson Valley Economic Development Corporation or to review available business sites, visit www.hvedc.com or call CEO Mike Oates at 845-220-2244
