National Grid Supporting Growth in Ticonderoga – Community Day & Economic Development Press Conference

PRESS RELEASE FROM NATIONAL GRID

National Grid Supporting Growth in Ticonderoga with More Than $400K in Economic Development Grants

TICONDEROGA, N.Y. — Ticonderoga is one of the many jewels in New York’s Adirondack Park and, along with increasing investments in the electric transmission infrastructure that serves the area, National Grid is supporting the economic growth and vitality in the region by awarding more than $400,000 in grants to several growing businesses while helping long-time businesses transition to new ownership. Some of the recent investments the company has made include:

• A $100,000 grant to the new Paper and Pencil Restaurant on Burgoyne Road.
• 120 Montcalm Street investment of $100,000 to Steve Racanelli for the redevelopment of a vacant building into new mixed-use space in the heart of downtown
• Plans to invest $100,000 for 108 Montcalm Street via Ti Alliance
• Support of the Adirondack North Country Association (ANCA)’s North Country Center for Business Transition with a $100,000 grant to assist with retiring small business transitions in the region, including Ticonderoga.
• Support to the Ticonderoga Chamber of Commerce of $7,500 to assist in marketing the services provided by the agency.

Ticonderoga Town Supervisor Mark A. Wright said, “Ticonderoga is experiencing an incredible economic revitalization and partners like National Grid are critical to supporting our success and sustainability. Their support of our local business community is simply remarkable and greatly appreciated.”

The Ticonderoga Area Chamber of Commerce has been at the forefront of the business growth in the region. “We are truly thankful for partners like National Grid who work closely with us to support our local businesses as well as implement meaningful initiatives that help continue and further expand our economic development efforts for the Ticonderoga Area,” said Matthew Courtright, Ticonderoga Area Chamber of Commerce President and CEO. “We have created a strong relationship with National Grid and look forward to many more years of collaboration as Ticonderoga and the North Country Region continues to thrive. We are Small Towns with Big Opportunities.”

In partnership with the Chamber, the Ticonderoga Revitalization Alliance has been an advocate for growth as well.

“National Grid has been a terrific partner in Ticonderoga’s revitalization over the past few years,” said Ticonderoga Revitalization Alliance Executive Director Donna Wotton. “In addition to the much-needed infrastructure work they have been doing in the area, their economic development programs have been helping building owners revitalize several of our Downtown Ticonderoga commercial buildings. It’s a great resource in a small community like ours and has been an excellent contributor to Ticonderoga’s renaissance. We’re so grateful for their partnership.”

In addition to expanding businesses, surveys have shown a large percentage of existing business owners will retire within 10 years and do not have a plan to transition their investments in the community. This can mean liquidation or closure of small business. ANCA’s Center for Businesses in Transition helps business owners plan for succession, retirement, or transferring ownership.

“National Grid has a close partnership with the Ticonderoga Area Chamber of Commerce,” Entrepreneurial Program Director for ANCA Danielle Delaini said. “The Ticonderoga chamber is working with businesses throughout the community on transition plans and several of these plans are in process here in Ticonderoga.”

Local business growth is being augmented by investment in the electric infrastructure in the region by replacing more than two miles of conductor and 220 transmission structures to increase reliability to nearly 10,000 National Grid customers. This work is being done to reduce outages and make the system safer and more reliable.

“National Grid is constantly working to increase safety and reliability across the more than 25,000 square miles we serve in upstate New York,” said National Grid Regional Executive Brian Sano. “We do this to promote growth in the communities we serve and augment that infrastructure improvement with economic development grants and other programs to projects that provide expanded business opportunities and new jobs to communities like Ticonderoga. In recent years Ticonderoga has grown and we hope these new investments will continue this trend.”

National Grid has been a major contributor in providing economic development assistance to new and existing businesses in the Capital Region (and across Upstate NY) for many years. Our economic development grant programs have provided $150 million in support for projects across upstate NY since 2003, helping to create or retain over 65,000 jobs in the regional economy.  Almost $40 million of that support was provided for projects in the greater Capital Region.

New York State Senator Daniel Stec said, “Ticonderoga has a great deal of economic potential and we must continue to ensure our small businesses have the resources and infrastructure they need to continue growing and developing. The partnership and funding from National Grid will provide crucial investments to important local businesses and community organizations that will help Ticonderoga’s continued revitalization.”

New York Assembly Member Matthew Simpson said, ““National Grid’s tremendous level of investment in the region is a strong signal in their belief of Ticonderoga’s future growth, prosperity and most importantly, its people. Not only have they invested in their own infrastructure throughout the area but the significant commitment of grant dollars further solidifies their desire to be a true partner with Ticonderoga and the surrounding community in striving for mutually held success and promise of a vibrant tomorrow.”

About National Grid: National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York and Massachusetts. National Grid is focused on building a smarter, stronger, cleaner energy future — transforming our networks with more reliable and resilient energy solutions to meet state climate goals and reduce greenhouse gas emissions. For more information, please visit our website, follow us on Twitter, watch us on YouTube, like us on Facebook and find us on Instagram.