Lansdale is offering electric rate discounts to companies that move into the borough or invest in existing plants. Borough Solicitor Mark Hosterman says Montgomery County Industrial Development Corporation President Carmen Italia praised the program at a recent County Borough Association meeting.
“He was very excited about it. He talked about how Tyco has stayed in Lansdale as a result of the borough reaching out and actually taking measures such as adopting an ordinance like this with these economic incentives.”
Tyco is a fire suppression product manufacturer that will be the first company to benefit from the program, which is made possible by an Economic Development Incentive Ordinance. It allows four different tiers of electric rate discounts based on the amount they invest and the employment levels they maintain. Lansdale is able to use electric rates as an incentive because it is one of about three dozen Pennsylvania municipalities that buy electricity in bulk for resale to residents.