PSEG Long Island extends programs to support local shops
In advance of Small Business Week, which runs from Sunday, April 28 to Saturday, May 4, PSEG Long Island is continuing its economic development grants and programs to help small businesses flourish.
Since the initiatives began in 2018, more than $2.8 million has been distributed to local business owners, according to a company statement.
The three economic development incentives that PSEG Long Island gives to support small businesses include the Main Street Revitalization grant, the Vacant Space Revival program, and the Thrive Program for Outdoor Commerce and Beautification grant.
Main Street Revitalization grants are given directly to businesses for completing renovations to help improve the economic stability and growth of a municipality. So far, 75 businesses have received a combined $2 million in grants under this program, which supports local commerce and communities. Nearly 1,300 new jobs were created by the grant recipients at their new or expanded businesses, according to PSEG Long Island.
The Main Street Revitalization grants have been given to several businesses in Lindenhurst, including the newly opened Great South Bay Brewery and soon-to-open Island Kava. Previous grant recipients in the village include Hunter & Thief, Pita Bowl, Restoration Kitchen and Cocktails and Sand City South Brewery. Several businesses in the Town of Babylon have also received these grants, including newly opened The Pizzeria, The Argyle Theater and Long Island MMA & Fitness Center in West Babylon.
Small businesses that renovate a building that has been vacant for more than a year can receive incentives from the PSEG Long Island Vacant Space Revival program. It provides up to $10,000 in electric bill discounts for a new business’ first year, which can be a financially difficult time. Since 2018, more than $320,000 has been provided to nearly 150 new businesses under this program. Recently, Blue Rose Dresses in Lindenhurst celebrated its one-year anniversary with more than $1,700 in savings under this program.
In addition, local business groups such as chambers of commerce, business improvement districts, civic associations and specific not-for-profit organizations that support businesses are eligible for improvement and beautification grants of up to $10,000 each. Under PSEG Long Island’s newly renamed Thrive Program, business organizations may qualify for reimbursement for items such as outdoor seating areas and tables, umbrellas, heaters and lighting, planters, flags and signage – to encourage dining and commerce in downtown areas. This grant opportunity is open through Sept. 30.
“Small businesses are the backbone of Long Island’s economy. They create jobs, encourage commerce and support our neighbors,” Veronica Isaac, manager of Customer and Community Partnerships for PSEG Long Island, said in the statement. “We are thrilled to champion local businesses with these financial opportunities and we’re proud that over the past six years, we have distributed nearly $3 million in grants and incentives to help local entrepreneurs thrive. We ask the community to join us in celebration of Small Business Week by visiting neighborhood restaurants and shops across Long Island and the Rockaways, and we encourage our business customers to learn more about our money and energy saving programs.”
To learn more about the small business support offered by PSEG Long Island, visit: psegliny.com/inthecommunity/revitalization
