PSEG Long Island Celebrates National Mom and Pop Business Owners Day By Hitting $1 Million Milestone in Grants Distributed
Company increases funding for 2023 grants to support small business owners
Video and soundbites for media use are available here: https://youtu.be/mCJ3pKU75ug
(UNIONDALE, N.Y. — March 28, 2022) PSEG Long Island today announced that it has granted $1.09 million over the past five years to help local businesses thrive. The company also said these economic development grants will continue to be funded in 2023 with an additional half a million dollars available. The announcement coincided with National Mom and Pop Business Owners Day (March 29) and was held at the office of a customer who received three sources of funding through PSEG Long Island programs.
“We are proud to announce that PSEG Long Island’s economic development grants have provided more than a million dollars to local businesses in the past five years, and we will continue to fund these very popular programs in 2023,” said John Keating, manager of Economic and Community Development for PSEG Long Island. “We support mom and pop shops and businesses that are enhancing downtowns and shopping districts because they are the backbone of Long Island’s economy. They create jobs and increase commerce. On this day before National Mom and Pop Business Owners Day, we encourage the public to support our local economy and our entrepreneurial neighbors.”
Tuesday’s announcement took place at the official grand opening of the law offices of Smith Carroad Wan & Parikh, P.C. in Smithtown, which recently moved into their completely renovated new building on East Main Street. The construction project earned them an $18,750 PSEG Long Island Main Street Revitalization grant.
Main Street Revitalization grants are available for businesses that complete projects to help improve the economic stability and growth of a municipality. Over the past five years, the grants have helped business owners create more than 900 local jobs. For the Smith Carroad Wan & Parikh building, the grant supported the interior infrastructure renovation, outside façade improvements and landscaping. Since 2018, Main Street Revitalization grants have supported renovation projects for 44 local businesses.
The law firm also qualified for another PSEG Long Island small business incentive because they renovated a building that had been vacant for more than a year. PSEG Long Island’s Vacant Space Revival program provides up to $10,000 in electric bill discounts for a new business’ first year, which is often financially difficult. Since 2018, nearly $204,000 has been provided to more than 100 new businesses under this program.
Smith Carroad Wan & Parikh also received energy efficiency rebates totaling more than $8,500 for installing new LED lighting and sensors in their new building.
“Congratulations to Smith Carroad Wan & Parikh for saving money while reducing your carbon footprint,” said Michael Voltz, director of Energy Efficiency and Renewables for PSEG Long Island. “You’re not only saving money and energy for your business; you are also doing your part to reduce the energy load for all of Long Island and beyond. We appreciate your commitment to the environment and we’re happy your renovations will help your bottom line.”
“I am so grateful to receive PSEG Long Island’s energy efficient rebates, Vacant Space Revival grant, and Main Street Revitalization grant,” said Timothy Wan, Esq., chief executive officer, Smith Carroad Wan & Parikh, P.C. “The discounts, grants and rebates helped with our renovation costs, allowing us to take our building from ‘safe and clean’ to ‘awesome!’”
“We are happy to help this new business launch in the Town of Smithtown,” said Barbara Franco, executive director of the Smithtown Chamber of Commerce. “We are great partners with PSEG Long Island. They have provided many grants to the chamber and local businesses here in our main street and neighboring areas, and were very influential in helping us get through COVID-19.”
"It’s great to see an expression of support for local businesses, which are the backbone of Long Island communities,” said Eric Alexander, founder of the LI Main Street Alliance. “The pandemic restrictions have set these small shops back and grants and resources from PSEG Long Island and other institutions can aid in the recovery of our downtown business districts."
PSEG Long Island’s Outdoor Commerce and Beautification grants, created in 2020 as a direct response to the pandemic, are being combined into one grant this year; and the maximum amount of the grant has been increased to $10,000. Local chambers of commerce and business improvement districts can use the funding for beautification and downtown improvement projects to help their members.
In the last three years, PSEG Long Island has given out nearly $290,000 under these popular grant programs, including $4,759 granted to Smithtown Chamber of Commerce last year to purchase outdoor patio heaters and umbrellas.
To learn more about the small business support offered by PSEG Long Island, visit https://www.psegliny.com/inthecommunity/revitalization.
PSEG Long Island
PSEG Long Island operates the Long Island Power Authority’s transmission and distribution system under a long-term contract. PSEG Long Island is a subsidiary of Public Service Enterprise Group Inc. (PSEG) (NYSE:PEG), a publicly traded diversified energy company.