Thursday, October 11, 2007

Expanding companies get electric discount

Newark City Council OKs lower rate for industrial businesses.

Technology, manufacturing and research companies moving to or expanding their operations in the city may now be eligible for up to a 10 percent discount on their electric bills.

City Council on Monday unanimously passed a new "economic development" electric discount rate for industrial businesses making investments that stand to add more than $200,000 to Newark's assessed tax base. Read more..

Kudos to Newark City Council for enacting this measure and to the Greater Newark Network for the role they played advocating for it.

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