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Creative Consulting Lands $4 Million Incentive Package
- A fortune 100 financial services firm was building a new office complex in New Jersey, relocating from New York, and was seeking additional economic incentives from involved parties in NJ.
- Client received an additional $4 million incentive package due to EnergyWatch’s creative consulting.
- EnergyWatch was retained to be part of the team that was charged with negotiating the best economic package available from the State. It was assumed that the financial services firm would obtain its electricity from the local power company.The property would boast fantastic views of New York City as it was going to be built within 100 yards of NY Harbor. EnergyWatch suggested that it might be possible to place a barge at the bulkhead of the planned building and produce its own power. This might have been feasible because marine law needed to be considered which differed from conventional power distribution requirements on land. The firm’s engineer presented a conceptual plan to the State and it was determined that the local utility could lose what was to be one of the largest power consumers in the State. This resulted in a $4 million dollar addition to the previously offered benefit package ensuring the client would be a customer of the local utility.