National Grid in upstate New York has awarded almost USD 100,000 to Fiber Glass Industries in Amsterdam, NY, in its continuing support of the local communities and businesses it serves. The Capital In…
National Grid in upstate New York has awarded almost USD 100,000 to Fiber Glass Industries in Amsterdam, NY, in its continuing support of the local communities and businesses it serves. The Capital Investment Incentive grant will be used to partially offset the cost for the construction of gas and electric facilities to the new 25,000 sq.ft. expansion of the company“s facility. Investments such as this help communities like Amsterdam remain strong, said Joseph Russo, National Grid regional economic development representative. In these challenging economic times, it is important to support projects that mean expanded business and additional employment opportunities. The newly expanded facility is expected to add 12 new jobs within five years and is part of the company“s USD 10 million investment in new equipment that will allow Fiber Glass Industries to produce a new, advanced fiber strand. Production of our new fiber strand required a new electric furnace and other equipment, said Kathryn Brannon, president of Fiber Glass Industries. The support of National Grid along with State and County support has made expansion a reality. Ken Rose, executive director of the Montgomery County Business Development Agency, said, National Grid has always been a tremendous partner with us here on our economic development projects. This Capital Investment grant demonstrates their ongoing commitment to that partnership. I want to thank National Grid for their investment in Fiber Glass Industries, said Congressman Paul Tonko. National Grid“s partnership with local business is helping keep our community strong and is advancing the type of economic opportunity that will help create new jobs. National Grid“s Capital Investment Incentive grant programme provides funding to support business expansion projects located in National Grid“s upstate New York service territory.