New York Gov. Cuomo Announces Low-Cost Power Economic Development Awards

Governor Cuomo Announces Low-Cost Power Economic Development Awards in Support of Nearly 5,000 Jobs Around New York State

ReCharge NY Power Allocations Create More Than $273 Million in Capital Investments and 86 New Jobs Throughout New York to Support COVID-19 Pandemic Recovery

New York (STL.News) Governor Andrew M. Cuomo today announced low-cost power economic development awards in support of nearly 5,000 jobs and nearly $280 million in capital investments throughout New York State.  The Governor’s ReCharge NY program, launched at the start of the Governor’s administration in 2011, currently provides power to 713 businesses and not-for-profit organizations, boosting the state’s economy by retaining and creating jobs, and sparking capital investment statewide. The New York Power Authority Board of Trustees has approved more than 3.1 megawatts of ReCharge NY power. In addition, the board also approved a low-cost Niagara power allocation in Western New York to Premium PPE—a manufacturer specializing in personal protective equipment—in support of the creation of 25 jobs in Amherst.”This program is critical to fostering job creation and innovation in New York and–as the past six months have demonstrated–we need to continue to be able to adapt and create our own supply lines to help ensure access to vital, lifesaving equipment,” Governor Cuomo said. “These low-cost power allocations help companies support their workers and create new jobs, and the sector—which supports more than 410,000 jobs around the state and billions of dollars in capital investments—is a strong building block as we move the state’s economy forward.”

“During Climate Week, we are advancing our efforts to invest in clean energy and lower costs across the state,” said Lieutenant Governor Kathy Hochul.  “As part of the ReCharge NY program, low-cost power economic development awards will support $280 million in investment and create nearly 5,000 jobs. The awards include low-cost power allocation to Premium PPE in Western New York, which will support 25 new jobs in the area. New York is leading the nation in our efforts to reduce greenhouse gases, provide alternative energy sources, and combat climate change. We are committed to building back better, cleaner and greener for the future of our state and all New Yorkers.”

The NYPA board today approved allocations of low-cost power under the program to eight New York enterprises in support of more than 4,970 jobs, with 86 of those being newly created. The low-cost RNY power awards will be distributed to enterprises in the Finger Lakes, the Capital District, New York City, and on Long Island. Included among the businesses receiving RNY power are Rotork Controls in Rochester in the Finger Lakes, NYU Langone Health in Brooklyn, and Parkell in Edgewood on Long Island.

The full list of ReCharge NY allocations

The NYPA board also approved five seven-year allocation extensions for existing ReCharge NY customers around the state. Those allocations, in addition to a modified power contract, directly support more than 10,100 jobs and are tied to more than $250 million in new capital investments over the next several years.

The full list of today’s seven-year RNY allocation extensions

The ReCharge NY program offers power contracts that last up to seven years. Half of the power—455 MW—is from NYPA’s Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric power plants, which provide some of the greenest, cleanest and lowest-cost electricity in the state.  The remaining 455 MW is lower-cost power bought by NYPA on the wholesale market.  The program has positively affected the New York State economy by encouraging companies to retain and create jobs, while sparking capital investment throughout the state.

The NYPA board also approved a 100-kilowatt hydropower allocation to Premium PPE in Erie County to support the creation of 25 jobs and $4.5 million in capital investments.  The ten-year power allocation will support the purchase of a 43,700 square foot facility in Amherst to serve as a PPE manufacturing and storage site for the firm.  The company will also be making significant machinery and equipment purchases as part of its expansion project.

Founded in 2020, Premium seeks to provide medical PPE to healthcare systems, hospitals, and first responders amidst the COVID-19 pandemic.  The company’s ownership currently operates a PPE import distribution business in Cheektowaga County and is proposing to transition its operations into the manufacturing and storage of medical PPE at a new, larger facility.

Low-cost Niagara hydropower is available for companies within a 30-mile radius of the Power Authority’s Niagara Power Project or businesses in Chautauqua County. Niagara hydropower is linked to tens of thousands of existing jobs in the region.

John R. Koelmel, NYPA chairman and Buffalo resident, said, “The statewide power allocations through the ReCharge New York program directly support businesses moving to get their employees safely back to work.  We are especially proud to be providing low-cost Niagara hydropower to Premium PPE in Amhurst in support of its push to expand production on critical personal protective equipment.”

Gil C. Quiniones, NYPA president and CEO, said, “The Power Authority is eager to aid businesses rebounding from the pandemic Under the Governor’s New York Forward plan.  Today’s low-cost power allocations will provide significant support to the local economies around the state getting back on their feet.”

Learn more about business growth opportunities supported by the Power Authority on NYPA’s Economic Development webpage.

“The clean energy economy is our major path forward out of the economic slowdown caused by the COVID-19 pandemic,” Senator Kevin S. Parker, Senate Energy & Telecommunications Committee chair, said.  “The Re-Charge NY program is an important blade on the turbine powering our economy, both saving jobs and creating jobs.  I applaud NYPA and the Board of Trustees for their work in helping to sustain economic development in the Empire State.”

“The investment that the N.Y. Power Authority is making in our community is commendable,” Senator Ranzenhofer said. “Creating jobs and opportunities, especially during the current economic challenges we are facing, is extremely important.  I applaud the N.Y. Power Authority on these new projects.”

“In this time when thousands of New Yorkers are out of work due to the COVID-19 pandemic, it is promising to see a continued commitment to creating energy jobs across the state,” Assemblyman Michael J. Cusick, Committee on Energy chair, said.  “Working to create jobs, which will provide clean, low-cost energy will greatly assist New York State’s economic recovery efforts. As we embark on this economic recovery it is important that we also continue to work towards achieving our state’s clean energy goals.  This announcement from NYPA is welcome news for our state’s economy, our state’s residents, our state’s energy grid, and our environment.”

“I am pleased to learn that the New York Power Authority has approved this project that will not only create jobs here in Amherst, but will go toward the manufacturing of personal protective equipment as we continue to fight COVID-19 and work to mitigate its impacts on the community,” said Assemblymember Karen McMahon (D-Amherst/Pendleton).  “The more than two dozen jobs created here in Amherst, and the production of PPE will help our economy recover and business in our region to resume safely.  I thank NYPA for recognizing our region as an area that can assist in turning the tide of the coronavirus in New York State.”

CLICK to VIEW SOURCE