The Sustainable Technology and Green Energy (STAGE) Grant Program provides financial assistance to support the retention, expansion and attraction of clean energy industries in Albany County.
FOR MORE INFORMATION CONTACT:
Kevin Catalano
Senior Vice-President & Director of Commercial Lending
KCatalano@AdvanceAlbanyCounty.com
Grants will be provided based on applicant need and project impact, including levels of investment and job creation. Below you can access the Enabling Legislation, Rules and Regulations, and Applications for the STAGE Grant Program.
ELIGIBLE COMPANIES AND USES OF LOAN FUNDS
Grant application must be developing a "Green Business" project in Albany County. "Green Business" is defined as any entity that is a for-profit business that produces goods or provides services that benefit the environment, conserve natural resources, or reduce greenhouse emissions.
Green Businesses include, but are not limited to corporations that manufacture, produce, build, engineer, service, supply, and/or distribute any product which produces clean energy sources or reduces emissions in other sectors of the economy, such as buildings or transportation, in order to meet local, state, and federal sustainability goals and contribute demonstrably to the green business footprint in the County.
Applicant must be in substantial compliance with all federal, state, and local worker protection and environmental laws and regulations, as applicable, and may not be in arrears with regard to its federal, state, and local tax obligations.
INELIGIBLE USE OF LOAN FUNDS
Green Businesses located outside of Albany County.
PROGRAM DETAILS
- Grants are dependent on number of jobs to be created in Albany County
- Project must demonstrate a 10:1 private sector investment match
- Funds can be used for: Architecture and Engineering; Real Estate Acquisition; Construction and Renovation of Real Estate; Infrastructure and Site work; Machinery and Equipment Acquisition; and Furniture and Fixtures
- Grant Funds will be issued on a reimbursement basis
- All Grants will have Recapture language in the grant documents
BACKGROUND
In 2019, the State of NY enacted the Climate Leadership and Community Protection Act (CLCPA), thereby creating one oft he most ambitious and comprehensive climate emergency laws in the country. The CLCPA calls for nothing less than the decarbonization of the NYS economy and calls on each and every municipality in the state to collaboratively work to significantly increase the green energy infrastructure in their municipalities to the greatest extent possible. New York has set aggressive goals though the CLCPA, and has established a target of reaching a point where no less than 70% of the state's electricity consumption will be derived from renewal power generation by the year 2030.
The Albany County Legislature further finds that local municipalities are uniquely situated to address the climate goals noted in the CLCPA through economic development efforts, which prioritize the shift towards clean renewable energy systems and green businesses that will fuel our economy in the next century.
STAGE Grant Program Enabling Legislation FINAL.pdf