What does EDRR mean in DEVELOPMENT

The Economic Development Rate Rider (EDRR) is an arrangement between a utility provider and a municipality which helps to attract, retain and expand businesses. It encourages job creation, economic development and capital investment.

The EDRR benefits both the utility provider and the municipality involved in the agreement. The utility provider gets increased usage of its services from new economic development projects while the municipality reaps the rewards of increased business growth within its jurisdiction.

An EDRR allows for discounted rates on energy services for businesses located within a certain area during the term of their agreement with the utility provider. This gives those businesses access to lower cost energy that can be used to power operational costs or invest in further expansion projects.

Companies that are looking to either start up or expand their operations may be eligible for an EDD rate rider if they meet certain criteria set forth by the local municipality or utility provider involved in the agreement. Such criteria often includes existing business operations in a given area as well as plans for specific types of capital investment projects.

There are usually no costs associated with signing up for an EDRR but each individual situation may vary depending on the specifics of your particular project or region. Be sure to consult with your local energy company or municipal government about what requirements must be met prior to being fully approved for such an agreement.