NYRI to Reserve Jobs for Vet Council's Members and Establishes Annual
Scholarship Fund for Vets' Continuing Education and Training
ALBANY, N.Y., May 12 /PRNewswire/ -- New York Regional Interconnect
Inc., the proposed 190-mile transmission line that will bring electrical
energy from upstate New York to meet the growing demand in the southeastern
part of the state, today announced its formal agreement with the National
Disabled Veterans Business Council, a nonprofit national organization that
assists service-disabled veterans returning from war with training and
employment while simultaneously boosting local economic development.
As part of their partnership, NYRI will reserve a minimum of 10
subcontracting construction-related contracts for qualified members and
affiliated members of the National Disabled Veterans Business Council when
the NYRI line begins construction upon final certification by the New York
Public Service Commission, the state regulatory agency in charge of siting
power transmission lines. According to independent studies included in
NYRI's application to the PSC, NYRI's project would bring a number of
economic benefits to communities hosting the final route of the power line,
which is determined by the PSC. Economic benefits include substantial
payments in property taxes, generous payments to landowners providing
easements over their land, the sourcing and purchasing of equipment
locally, and a $30 million community fund set aside for communities hosting
the project. Most importantly, NYRI's project would result in the creation
of some 300 or more construction jobs during the three years of project
construction as well as scores of permanent jobs when the power line goes
into operation.
"We at NYRI feel privileged to join with our country's veterans through
the National Disabled Veterans Business Council, so we can give something
concrete back to our troops who have served all of us so selflessly," said
Chris Thompson, president of NYRI. "By supporting our highly skilled
service-disabled veterans with real jobs after they return home from the
frontlines, this partnership enables us to invest in our veterans and their
communities while stimulating the economic development of New York."
In addition to job creation and security for service-disabled veterans,
NYRI has also pledged to fund a $5,000 annual scholarship program that will
provide continuing education and professional training and development for
vets affiliated with the National Disabled Veterans Business Council.
"With respect to veterans' relations, NYRI has set the standard for
businesses in New York -- a standard that we would like to see other
companies emulate," said Joe Franklin, chairman of the Executive Board of
the National Disabled Veterans Business Council. "We are thrilled that NYRI
has demonstrated trust and faith in veterans, and together we will work
toward the greater good of New York."
In addition to the economic stimulus the NYRI project will bring, the
project will also lower wholesale electricity costs throughout New York
State, which currently has the third-highest rates in the country.
Comprehensive economic studies by Charles River Associates show that, by
2018, the NYRI power line would relieve costly electrical congestion in the
state, thereby lowering wholesale rates by 5.7 percent. That translates to
an annual savings for New Yorkers of nearly $684 million.
NYRI's new, efficient transmission lines will improve the reliability
of New York's transmission system, providing safe and reliable power while
protecting national and regional energy security. The New York Independent
System Operator (NYISO), the U.S. Department of Energy and the private
sector have documented the critical need for upgrading transmission in New
York State to relieve system congestion and increase reliability. Without
new transmission, and even with aggressive conservation measures, the
region risks potentially devastating blackouts and brownouts that would
impact individuals, businesses, hospitals, schools -- virtually every
aspect of modern life. NYRI would be the first major transmission upgrade
from upstate to downstate New York in more than 20 years.
Independent studies also indicate that the NYRI transmission line would
stimulate investment in renewable energy sources and help New York State
achieve its environmental policy goals for using more renewable energy
sources.
"We are enthusiastic about our project and hope that communities will
see that NYRI is striving to address the vital energy needs of all New
Yorkers, including our nation's veterans, while providing important local
economic development opportunities," Thompson said.
About the National Disabled Veteran Business Council
The National Disabled Veteran Business Council (NDVBC) is incorporated
in Washington, D.C. as a 501c19 to unite and to represent the thousands of
disabled veteran business owners throughout the country. Our mission is to
assist in the formation and development of organizations in every state
across the nation to serve the disabled veteran business community. We
assist these state organizations in the areas of membership development,
legislation, and education and training of its members and potential
members. We represent its membership at the national level, and promote
federal legislation favorable to this business community. We promote and
encourage the utilization of disabled veteran-owned businesses at the state
and the federal government levels, and in the private sector. We encourage
and promote the formation of Disabled Veterans Business Enterprise (DVBE)
(http://www.dvbe.com/ ) advisory councils within each of the states'
Departments of Veterans Affairs.
About NYRI
New York Regional Interconnect, Inc. (NYRI) (http://www.nyri.us) is a
group of investors, engineers, legal advisors, economists and environmental
scientists proposing to build a transmission line that would bring
electrical power from areas with abundant supply to areas with high demand.
NYRI is working with state leaders and communities to enhance public
understanding of energy issues, support conservation and promote
responsible energy production, transmission and use.
NYRI is owned by a consortium of investors with broad experience in
managing energy and other infrastructure assets and investments. The
consortium includes Borealis Infrastructure Management
(http://www.borealisinfrastructure.com), a subsidiary of one of Canada's largest
pension plans, and American Consumer Industries (ACI, http://www.aciinc.net), an
investment holding company that specializes in environmentally sensitive
power generation technologies and applications.
Media Contact:
David Kalson
RF|Binder Partners
(212) 994-7513
david.kalson@rfbinder.com
SOURCE New York Regional Interconnect, Inc.
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Related links:
http://www.nyri.us
http://www.dvbe.com
CONTACT:
David Kalson, RF Binder Partners,
+1-212-994-7513, david.kalson@rfbinder.com
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