Awards to 12 Companies Expected to Spur More Than $29 Million in Capital Spending
Complete List of ReCharge NY Awards can be Viewed Here
Governor Andrew M. Cuomo today announced the New York Power Authority Board of Trustees has approved 14 low-cost power allocations to 12 businesses under the ReCharge NY program. These actions support 1,311 jobs, including the hiring for 268 new positions at companies throughout New York.
"ReCharge NY brings low cost power to local companies, enabling them to reinvest in their businesses and helping them grow and thrive in New York," Governor Cuomo said. "With hundreds of thousands of jobs supported under this discounted power program, ReCharge NY is helping to spur local economies, create jobs, and secure New York’s clean energy future for generations to come."
The Governor’s Recharge NY program was launched in 2011 and is currently reducing electricity costs for nearly 750 businesses and not-for-profit organizations across the state. The program has boosted the state’s economy by retaining and creating jobs and sparking capital investment throughout New York.
The 6.45 megawatts of low-cost power under the latest allocations will be distributed among 12 businesses from Long Island to Western New York, including enterprises in Central New York, the Finger Lakes, Long Island, New York City, the North Country, the Southern Tier and Western New York. Recipients include Quality Vision International in Rochester, Best Yet Market in Bay Shore, L-3 Communications Holdings in Hauppauge, Potters Industries in Potsdam, and Gunlocke Company in Wayland.
NYPA chairman John R. Koelmel said, "The NYPA trustees are pleased to approve this latest round of low-cost power allocations under Governor Cuomo’s highly successful ReCharge NY program. These power allocations provide enterprises across the state with lower electricity costs, which enable companies to reinvest and strengthen their business."
President and Chief Executive Officer of NYPA Gil C. Quiniones said, "Ever since Governor Cuomo established ReCharge NY, the power program has been the most impactful economic development tool that NYPA has at its disposal. This latest round of power allocations provides direct support for keeping 1,300 employees all across New York State working and contributing to the state’s economy."
The list of ReCharge NY allocations can be viewed here.
To date, Governor Cuomo’s ReCharge NY program has provided more than 754 megawatts to 682 business operations and 70 nonprofit organizations. One megawatt is enough power to meet the needs of roughly 800 typical homes.
ReCharge NY offers up to seven-year power contracts. 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.
Senator Joseph Griffo, chairman of the senate committee on energy & telecommunications said, "Once again, the ReCharge NY program is helping to fuel job growth across the state by providing low-cost power to those businesses, manufacturers and nonprofit organizations willing to invest in New York State. The burdensome cost of energy is one of the biggest obstacles to economic development in our state, so I am glad the Governor’s program continues to lessen the expense of doing business and creating jobs in New York."
Assemblywoman Amy Paulin, chair of the New York State assembly committee on energy said, "I am pleased that the New York Power Authority has approved another round of ReCharge NY power allocations. This round of allocations will support 1,311 jobs, and produce $29 million in new capital investment across the State, demonstrating once again that this program provides real economic development benefits for New York."
For more information about the Governor’s ReCharge NY program visit ReCharge NY’s website here.
NYPA is the nation's largest state public power organization, through the operation of its 16 generating facilities and more than 1,400 circuit-miles of transmission lines. NYPA uses no tax money or state credit. More than 70 percent of the electricity NYPA produces is clean renewable hydropower. For more information about NYPA visit http://www.nypa.gov/ or follow NYPA on Twitter @NYPAenergy, Facebook, Instagram, WordPress, and LinkedIn.