Investment in Production of LED Luminaires and Energy-Saving Lighting Controls
Acuity Brands, Inc. (NYSE: AYI) has been selected as an eligible recipient of Advanced Energy Manufacturing tax credits totaling approximately $772,000 for capital investments in production equipment at its Crawfordsville, Indiana, and Wallingford, Connecticut facilities. Funded by the American Recovery and Reinvestment Act of 2009, the tax credit supports investment in energy-saving technologies, such as energy-efficient lighting fixtures and lighting control systems.
The tax credit, more fully described in section 48C of the Internal Revenue Code, was designed to create incentives for the private sector to create and retain jobs in the United States through the manufacture of products that reduce energy consumption and greenhouse gas emissions. Submitted applications for the tax credit were ranked based on the potential for domestic job creation, impact on energy consumption, likelihood of commercialization, and time-to-benefit of the specific energy project. The tax credit will support Acuity Brands' initiatives to expand production of light-emitting diode ("LED") outdoor luminaires at its Crawfordsville, Indiana facility and lighting control systems at its Wallingford, Connecticut facility.
Acuity Brands has a demonstrated commitment to environmental sustainability and innovation. "We have a broad product portfolio of advanced lighting technologies that reduce the energy costs and the carbon footprint of the end user," said Vernon J. Nagel, Chairman, President and CEO of Acuity Brands, Inc., "This award recognizes our continued efforts to bring these products to market and drive substantial energy reductions in lighting energy."
About Acuity Brands:
Acuity Brands, Inc., the parent company of Acuity Brands Lighting, Inc. and other subsidiaries, is one of the world's leading providers of lighting fixtures and related products and services with fiscal year 2009 net sales of over $1.6 billion. The Company's brands include Lithonia Lighting®, Holophane®, Peerless®, Mark Architectural Lighting™, Hydrel®, American Electric Lighting®, Gotham®, Carandini®, RELOC®, MetalOptics®, Antique Street Lamps™, Tersen™, Synergy® Lighting Controls, Sensor Switch®, Lighting Control & Design™, and ROAM®. Headquartered in Atlanta, Georgia, Acuity Brands employs approximately 6,000 associates and has operations throughout North America and in Europe and Asia.
Contacts:
Acuity Brands
Dan Smith, 404-853-1423
dan.smith@acuitybrands.com