Power project backer, nonprofit partner on benefits program
Jan. 09, 2018
LANCASTER, N.H. (AP) — Representatives for a proposed $1.1 billion power transmission project in New England have partnered with a nonprofit on a 40-year, $20 million benefits package to support economic development in the project's host communities in New Hampshire.
National Grid, backer of the Granite State Power Link, has partnered with Northern Community Investment Corporation. The project would be built alongside an existing line at Norton, Vermont, and connect with an upgraded power line at Monroe, New Hampshire, before continuing to Londonderry.
The NCIC would administer the program through a revolving loan fund and economic and community development grants. NCIC President Jon Freeman said the new infusion of capital means its programs can support more growing businesses and employment initiatives.
Granite State Power Link entered into a similar program with the Northeastern Vermont Development Association in December.