Governor Hochul Announces Economic Development Awards Spurring More Than $20 Billion in Capital Investments and Supporting Over 8,300 Jobs

Governor Kathy Hochul today announced that the New York Power Authority Board of Trustees approved economic development awards to 22 firms that will spur more than $20 billion in capital investments and support 8,336 jobs—with 3,930 newly created. Included among the approved items is a Niagara hydropower allocation to Amazon, the world's largest online retailer, and a ReCharge NY power allocation to Micron, a U.S.-based memory and storage manufacturer and the fourth-largest producer of semiconductors in the world. The NYPA board also approved a low-cost hydropower allocation to the Village of Greene in Chenango County in the Southern Tier under the Power Authority's Industrial Economic Development program. Low-cost power through the statewide ReCharge NY program was allocated to the remaining applicants. A full list of today's ReCharge NY power allocations is available here.

"These transformative economic development awards to Amazon, Micron and other businesses across the state will create thousands of jobs and spur billions in economic activity," Governor Hochul said. "New York continues to secure its legacy as the most business-friendly and worker-friendly state in the nation, while advancing the aggressive goals of our nation-leading climate agenda -- creating a greener, more prosperous Empire State."

At today's meeting, the NYPA board approved a nearly 10.7-megawatt (MW) low-cost Niagara Power Project hydropower allocation to Amazon in support of the firm's construction of a $550 million e-commerce storage and distribution center in the Town of Niagara that will receive, store, package and fulfill online customer orders. The project will lead to the creation of 1,000 new, permanent, full time-time jobs at the facility in addition to hundreds of new construction jobs. 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.

The NYPA board also awarded more than 150 MW of low-cost power under its ReCharge NY program, including a 140-MW low-cost power allocation to Micron. Additionally, the NYPA board approved 404 MW of High Load Factor power that NYPA will procure for Micron on the energy market.

Governor Hochul first announced Micron's decision to build a new megafab in Onondaga County in October 2022. In August 2022, Governor Hochul signed the first-in-the-nation Green CHIPS legislation aimed at creating jobs, kick-starting economic growth and maintaining important environmental protections while making New York a hub for semiconductor manufacturing.

The remaining low-cost power awards will be directed to companies in the Capital District, Finger Lakes, Southern Tier, North Country, New York City, Central New York, Western New York, Hudson Valley and on Long Island.

New York Power Authority Chairman and Buffalo resident, John R. Koelmel said, "The legacy of Niagara hydropower is deeply intertwined with the economic growth and vitality of Western New York. Amazon's investment in Niagara Falls will build on that legacy, creating more than 1,000 jobs and supercharging the regional economy with a more than half a billion-dollar investment."

New York Power Authority Acting President and CEO Justin E. Driscoll said, "Micron's historic investment secures New York's status as a global leader in semiconductor manufacturing. By leveraging clean, renewable hydropower, the Power Authority attracts the industries of tomorrow to our state, spurring transformative economic growth that will leave a lasting impact for future generations of New Yorkers."

The NYPA Board of Trustees today also approved 250-kilowatt low-cost hydropower allocation to the Village of Greene in Chenango County in New York's Southern Tier region under the Power Authority's Industrial Economic Development program.

Cocojune, a New York-based food company that specializes in producing organic coconut yogurt using plant-based ingredients, will be constructing a new facility in the Village of Greene and outfitting it with yogurt-filling machinery and packaging equipment. The hydropower allocation approved at today's board meeting will support Cocojune's expansion, spurring nearly $700,000 in capital investments and creating 24 jobs in the region.

The Industrial Economic Development Program is comprised of 54 MW of the more than 768 MW of hydropower allocated to the 51 municipal and rural electric cooperative systems around New York State. Power under the program is allocated to individual municipal systems to meet the increased electric load resulting from eligible new or expanding businesses in their service area.

New York's Growing Semiconductor Industry

Governor Hochul also announced $45 million for GO SEMI, announced as part of the 2023 State of the State address, on the heels of Micron's historic announcement that it will invest $100 billion to build the world's largest memory manufacturing facility in Clay, located in Onondaga County, New York. The investment is estimated to bring up to 50,000 jobs to the Central New York region and was made possible by the federal CHIPS and Science Act and New York's Green CHIPS legislation, which the Governor signed in 2022. The new office will be led by Empire State Development and staffed by experts from the Department of State, the New York State Energy Research and Development Authority, the Department of Labor, the Department of Transportation, the Department of Environmental Conservation, NY CREATES, the New York Power Authority, the Office of Homes and Community Renewal and the State University of New York. GO SEMI will lead and centralize efforts to implement the Micron project; develop and advance policies to attract the semiconductor industry and its supply chain; coordinate workforce development and community investments between local, state, federal, and private partners; lead efforts to create, attract and retain the highly skilled workforce needed; and support cohesive development focused on smart growth principles.

New York State's Nation-Leading Climate Plan

New York State's nation-leading climate agenda calls for an orderly and just transition that creates family-sustaining jobs, continues fostering a green economy across all sectors and ensures that at least 35 percent, with a goal of 40 percent, of the benefits of clean energy investments are directed to disadvantaged communities. Guided by some of the nation's most aggressive climate and clean energy initiatives, New York is on a path to achieving a zero-emission electricity sector by 2040, including 70 percent renewable energy generation by 2030, and economywide carbon neutrality by mid-century. A cornerstone of this transition is New York's unprecedented clean energy investments, including more than $35 billion in 120 large-scale renewable and transmission projects across the state, $6.8 billion to reduce building emissions, $1.8 billion to scale up solar, more than $1 billion for clean transportation initiatives, and over $1.8 billion in NY Green Bank commitments. These and other investments are supporting more than 165,000 jobs in New York's clean energy sector in 2021 and a 2,100 percent growth in the distributed solar sector since 2011. To reduce greenhouse gas emissions and improve air quality, New York also adopted zero-emission vehicle regulations, including requiring all new passenger cars and trucks sold in the State be zero emission by 2035. Partnerships are continuing to advance New York's climate action with nearly 400 registered and 100 certified Climate Smart Communities, nearly 500 Clean Energy Communities, and the State's largest community air monitoring initiative in 10 disadvantaged communities across the state to help target air pollution and combat climate change.

About NYPA

NYPA is the largest state public power organization in the nation, operating 16 generating facilities and more than 1,400 circuit-miles of transmission lines. More than 80 percent of the electricity NYPA produces is clean renewable hydropower. NYPA uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. For more information visit www.nypa.gov and follow us on Twitter, Facebook, Instagram, Tumblr and LinkedIn.