July 26, 2022
Albany, NY

Governor Hochul Announces Economic Development Awards in Support of More Than 3,700 Jobs and Significant Capital Investments

Governor Hochul Announces Economic Development Awards in Support of More Than 3,700 Jobs and Significant Capital Investments

State Advances Regional Clean Energy Hydrogen Hub Through Hydropower Allocations to Two Green Hydrogen Industry Firms

Economic Development Awards Create 177 Jobs in Western New York and 90 Jobs in the North Country

Governor Kathy Hochul today announced that the New York Power Authority Board of Trustees has approved economic development awards to 23 companies that will support more than 3,700 jobs—more than 1,000 newly created—and spur significant capital investments. Low-cost power through the statewide ReCharge NY program was allocated to 19 applicants, while the remaining four are firms that will benefit from regional economic development incentives in the North Country and Western New York.

"Economic development awards from the New York Power Authority are critical to the vitality of New York's growing clean energy economy," Governor Hochul said. "With more than 1,000 new jobs for New York's skilled workforce and more than $8 billion in private capital investments, NYPA's Recharge NY awards will help solidify New York's status as a premier destination for the nation's most promising industries."

"Today's announcement is a critical step towards providing low-cost power to New Yorkers while at the same time creating 3,700 new jobs for New Yorkers," said Lieutenant Governor Antonio Delgado. "These new investments made available through the Recharge NY program and other economic development initiatives will spur significant economic growth across the state."

ReCharge NY Awards
The approved allocations of more than 33 megawatts (MW) of low-cost power under the ReCharge NY program will be directed to 19 companies in the Capital District, Southern Tier, Western New York, Central New York, Mid-Hudson, New York City, and on Long Island. The awards directly support nearly 3,500 jobs—787 newly created—and more than $7.5 billion in capital investments.

New York Power Authority Interim President and CEO Justin E. Driscoll said, "ReCharge NY is a major driver supporting New York's economic development mission. The low-cost power program is stimulating large-scale investment and job growth in communities across the state. The $7.5 billion in private investments approved by the NYPA board today will help to positively transform New York's economic landscape."

Some additional notable allocations approved by the NYPA board through ReCharge NY include awards to Barnard College in New York City, Cayuga Milk Ingredients in Cayuga County and Databank Holdings in Rockland County.

A full list of today's ReCharge NY power allocations and economic development awards is available here.

ReCharge NY has strengthened New York State's economy by encouraging companies to retain and create jobs, while sparking capital investment throughout the state. ReCharge NY offers power contracts up to seven-years. Half of the power—455 megawatts (MW)—is from NYPA's Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric power plants. The remaining 455 MW is lower-cost power bought by NYPA on the wholesale market.

Northern New York Awards

At today's meeting, the NYPA board approved 94 MW of low-cost St. Lawrence hydropower to Air Products— an American-based global industrial gases company in operation for more than 80 years that serves a wide range of industries including healthcare, technology and clean energy—for its significant project investment and creation of 90 jobs in Massena. The project supports New York State's goal of becoming a Regional Clean Energy Hydrogen Hub, as announced by Governor Kathy Hochul in March. New York's hydrogen hub ambitions directly support the goals of the state's Climate Leadership and Community Protection Act (Climate Act).

New York Power Authority Vice Chairman and Massena Resident Eugene L. Nicandri said, "Allocations from the St. Lawrence Power Project attract large-scale community investment and deliver good-paying jobs to the North Country. In supporting Air Products' expansion, NYPA is furthering New York's aggressive climate goals and helping to advance the state's vision of becoming a regional hydrogen hub."

Preservation Power is comprised of 490 megawatts of competitively priced hydropower generated at the St. Lawrence Franklin D. Roosevelt Power Project that may be allocated to eligible businesses located in the Franklin, Jefferson and St. Lawrence counties of New York State.

In addition, the NYPA board approved 16 MW of High Load Factor power that NYPA will procure for Air Products on the energy market.

Air Products' application has been considered under the Power Authority's green jobs evaluation criteria, which was approved by the trustees in December 2020, to allow NYPA to consider green job impacts in New York State when evaluating economic development power applications.

Western New York Awards

The NYPA board also approved economic development awards to three companies that will benefit from low-cost hydropower allocations from the Niagara Power Project.

New York Power Authority Chairman and Buffalo Resident John R. Koelmel said, "Hydropower from the Niagara Power project has stimulated billions of dollars in capital investment and supports tens of thousands of Western New York jobs. The low-cost hydropower allocations approved at today's meeting will support firms that provide important services and strengthen Western New York's growing clean energy economy."

The NYPA Board of Trustees today approved a more than 1.5-MW low-cost hydropower allocation to Jamestown under the Power Authority's Industrial Economic Development program.

Electrovaya, a developer and manufacturer of portable lithium-ion batteries, is planning a 135,000 square-foot expansion project in Jamestown to operate lithium-ion cell manufacturing and battery module assembly equipment. The hydropower allocation approved at today's board meeting will support this expansion, spurring approximately $40 million in capital investments and creating 100 green 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 can is allocated to individual municipal systems to meet the increased electric load resulting from eligible new or expanding businesses in their service area.

Linde, an industrial gases and engineering company with a clean hydrogen production facility in Niagara Falls, was awarded a 22-MW hydropower allocation for a $75 million expansion project to further advance the firm's production of green hydrogen. The project will create 11 new, full-time, permanent positions while retaining 81 existing jobs. Linde's application was also considered under the Power Authority's green jobs evaluation criteria and supports the goals of New York's Climate Act. Linde's expansion also furthers New York State's Regional Clean Energy Hydrogen Hub ambitions. Linde is also a collaborator on NYPA's green hydrogen demonstration project at its Brentwood small clean power plant on Long Island. The project is currently being evaluated and results will be reported on this fall.

Niacet, a global producer of propionate and acetate salt preservatives, was approved for a 5.1-MW hydropower allocation at its Niagara Falls facility that will expand the company's production of diacetyl tartaric acid ester of monoglycerides. The project would increase the production of emulsifiers, which are used in baking to strengthen the gluten network in dough. Niacet's products serve the pharmaceutical, food, feed, and technical industries, filling vital everyday needs and supporting pathogen inhibition, antibiotic formulation, and preservation systems for meat and plant-based food products.

The project will create 62 jobs and support more than $61 million in capital spending. The firm's application was considered under the expanded Diversity, Equity, and Inclusion evaluation criteria approved by the NYPA board at its December 2021 meeting. The company's project site meets the qualifying criteria due to its location in a disadvantaged community in New York State.

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.

State Senator Joseph Griffo said, "The Recharge NY program has been an effective and useful tool for many communities and businesses. I am pleased that the program continues to support jobs and investment in New York State."

State Senator Robert G. Ortt said, "Niagara County is home to one of the largest renewable power producing facilities in all of the nation, and the utilization of this power by local businesses is instrumental to the economic viability of our region. By allocating more than 27 megawatts of hydropower to two important Niagara County businesses, we are ensuring that these companies can continue to operate at full capacity and expand career opportunities to the Niagara County workforce."

Assemblymember Angelo Morinello said, "Niagara Falls is a tremendous source of clean renewal energy that provides economic development opportunities to many companies. Thank you to the New York State Power Authority Board of Trustees for its continuing commitment to supporting economic development through power allocations."

Assemblymember Michael J. Cusick said, "Today's announcement of a new round of ReCharge NY awards demonstrates our state's continued commitment to achieving our ambitious climate and energy goals. Not only will this new round of awards bolster our statewide efforts to transition to a clean energy grid, but they will also invigorate our economic recovery in the aftermath of the COVID-19 pandemic by creating good jobs and providing low-cost power."

Massena Mayor Greg Paquin said, "Preservation Power is a valuable resource that can help redevelop our economy and community. The village is very thankful for the allocation that will support green energy and job creation in Massena."

Town of Massena Supervisor Susan Bellor said, "The Town of Massena is excited for this major green hydrogen project that will create 90 high-paid head of household jobs in the growing renewable energy field. Projects like this one, provided by the commitment of the New York Power Authority, are giving our children a reason to stay in Massena and the North Country after graduation as well as an opportunity for those who left, to return. We appreciate the continued commitment of the Power Authority for seeking out new businesses and promoting the benefits of doing business in the North Country."

About New York State's Nation-Leading Climate Plan

New York State's nation-leading climate agenda is the most aggressive climate and clean energy initiative in the nation, calling for an orderly and just transition to clean energy that creates jobs and continues fostering a green economy as New York State recovers from the COVID-19 pandemic. Enshrined into law through the Climate Leadership and Community Protection Act, New York is on a path to achieve its mandated goal of a zero-emission electricity sector by 2040, including 70 percent renewable energy generation by 2030, and to reach economy wide carbon neutrality. It builds on New York's unprecedented investments to ramp-up clean energy including over $35 billion in 120 large-scale renewable and transmission projects across the state, $6.8 billion to reduce buildings emissions, $1.8 billion to scale up solar, more than $1 billion for clean transportation initiatives, and over $1.6 billion in NY Green Bank commitments. Combined, these investments are supporting nearly 158,000 jobs in New York's clean energy sector in 2020, a 2,100 percent growth in the distributed solar sector since 2011 and a commitment to develop 9,000 megawatts of offshore wind by 2035. Under the Climate Act, New York will build on this progress and reduce greenhouse gas emissions by 85 percent from 1990 levels by 2050, while ensuring that at least 35 percent with a goal of 40 percent of the benefits of clean energy investments are directed to disadvantaged communities, and advance progress towards the state's 2025 energy efficiency target of reducing on-site energy consumption by 185 trillion BTUs of end-use energy savings.

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.

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