Project Appleseed: electric rate incentives

Consolidated Edison Company of NY Inc. (Con. Edison) has an economic development program to assist business growth and prosper in New York City and Westchester County. In 1981, the utility introduced a program of reduced electric rates (area development rate) for economic development to help revitalize eight areas of the South Bronx and Brooklyn that were economically disadvantaged neighborhoods. In 1984, Con. Edison expanded the area development rate to include 10 additional sections of New York City. At the same time another reduced electric rate (business incentive rate) was introduced to encourage the reoccupation of vacant commercial and industrial buildings and encourage new construction of similar structures. As of mid-1987, the two incentive rates (now known as Project Appleseed), have 6600 customer/company participants, and are responsible for creating and retaining 39000 jobs for the NYC and Westchester County Con. Edison service area. Various features of the Project Appleseed program are discussed, including customer eligibility, governmental and public support, and rate design.< >