Massena, NY Project
The New York Power Authority (“NYPA”) recently commissioned McKinsey & Co. to study economic development options for Up-State New York. McKinsey concluded that Controlled Environment Agriculture represents a ”Signature Initiative” for the region.
CEI’s is now located in an Opportunity Zone in Massena, NY to achieve maximum tax benefits for superior returns while supporting an environmentally friendly enterprise focused on meeting the increasing demand and need for healthy locally grown produce. As Phase I it is developing 40 acres out of a prospective total 2,000 available acres.
NYPA has awarded CEI “Preservation Power” to help operate CRI greenhouses. This favorable rate is important as power is the second leading cost factor in operations after labor.
The shuttering of large industries in the area has left a large and skilled workforce seeking employment. CEI has received a $1.2 million grant based on projected labor needs.