Since its launch in September 2015, Baltimore Gas and Electric Company’s (BGE) Smart Energy Economic DevelopmentSM (SEEDSM) Program has approved incentives for 19 businesses which are expected to contribute to the addition of nearly 2,400 new jobs in Maryland. New and expanding businesses creating new full-time employment can qualify for SEED discounts on natural gas and electric connection and usage costs.
“A strong economy is vital to having a strong community and by providing incentives to businesses through the innovative SEED Program, we can help stimulate growth and job creation,” said BGE CEO Calvin Butler Jr. “This is truly a partnership with the state of Maryland, business groups and business customers. By working together we will continue to move smart energy forward, which benefits the whole region.”
Nineteen SEED applicants have been approved with 11 in Baltimore City, four in Harford County, three in Baltimore County and one in Prince George’s County. More than 600 of the planned jobs reported by these businesses will be created in Baltimore City. The planned jobs in Baltimore City also support BGE’s commitment to BLocal, through which Baltimore-area businesses are working together to help strengthen the city.
“The response from the business community shows that there is a strong desire to build in the area. 2,400 potential jobs is a great start and we will continue to work hard to get more participants,” said Ammanuel Moore, BGE’s economic development manager. “We are thankful for the support we’ve received from economic development groups in spreading the word about SEED.”
The SEEDSM Program was developed to meet the needs of contemporary businesses by offering larger discounts than previous incentive programs and by adding natural gas discounts in addition to electricity incentives.
Qualifying commercial customers receive BGE incentives that:
- Discount charges (demand, distribution and customer) by 25 percent for electric and natural gas service,
- Offer a 75 percent discount on BGE construction costs to extend and expand service to businesses located in a Maryland Enterprise Zone,
- Eliminate a minimum usage requirement for businesses located in Enterprise Zones to allow small businesses to take advantage of the program.
BGE, founded in 1816 as the nation’s first gas utility, is Maryland’s largest natural gas and electric utility. Headquartered in Baltimore, BGE delivers power to more than 1.25 million electric customers and more than 650,000 natural gas customers in central Maryland. The company’s approximately 3,200 employees are committed to the safe and reliable delivery of natural gas and electricity, as well as enhanced energy management, conservation, environmental stewardship and community assistance. BGE is a subsidiary of Exelon Corporation (NYSE: EXC), the nation’s leading competitive energy provider. Like us on Facebook and follow us on Twitter, YouTube and Flickr.