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CHEMUNG COUNTY, N.Y. --Anchor Glass is celebrating its 100th year in Chemung County and now the glass manufacturer will have the financial capabilities to hopefully continue for another century.

It was announced Tuesday that the Elmira Heights facility will be taking part in the ReCharge New York program that will supply Anchor Glass with low cost electricity. The reduced costs will save the company $680,000 annually.

Company officials say the program will allow them to reinvest in the facility and keep employees.

"It's giving us an opportunity to retain the 340 high paying manufacturing jobs. We are a pillar of the community. Our people with high paying manufacturing jobs, they can buy cars and they can buy houses and they can pay mortgages," Anchor Glass General Manager Mike Sopp said.

Anchor Glass produces 2.9 million glass containers a day for companies like Mott's Applesauce and Mike's Hard Lemonade. The company is one of more than 40 Southern Tier businesses to be in the ReCharge New York program.