SHERBURNE, 9/24/08 -- At the village hall in Sherburne, State Senator James L. Seward (R/I/C-Oneonta) today announced $ 100,000 in capital funding for the Sherburne Electric Business Park, a village project designed to use the village’s attractive electric rates to attract new businesses and create jobs at a 30 acre business park on Classic Street in Sherburne.

"This is about jobs, economic security and business growth," Seward said. "It’s about targeted, smart investments that create economic opportunities so that young people will be able to stay here in Chenango County and find the careers of their choice."

The village’s plan involves relocating its electric department and using the vacated property for development of a business park. The village will provide all needed utilities to the site, including water, sanitary sewer and electric, and the senate funding will be used to help develop the site for business growth. The village estimates 30 new jobs at the park over the next two years. Possible expansion to an adjacent 35 acre parcel will add to that total, depending the success of the first phase.

"I commend the mayor, the supervisor and the village and town officials for their vision -- a plan for a growing and prosperous Sherburne," Seward said. "The special economic assistance funding for the project is aimed directly at this kind of project -- creating new jobs and bringing businesses to our area."

The entire project is estimated at $550,000. The funding is from the state’s capital program for economic assistance.