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NYPA board of trustees approve economic development awards in support of 468 jobs around New York

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Fri, Dec 20th 2019 02:45 pm

ReCharge NY Power allocations create more than $155 million in capital investments, 200 new jobs throughout; Unifrax in Tonawanda to invest $36 million

The New York Power Authority board of trustees has approved economic development awards in support of 468 jobs and $191 million in capital investment commitments statewide. The board approved more than 6 megawatts (MW) of ReCharge NY power and low-cost hydropower to 12 enterprises throughout the state, and an additional low-cost power allocation and several funding awards to enterprises in Western New York and the North Country.

John R. Koelmel, NYPA chairman and Buffalo resident, said, “NYPA hydropower is a key driver of the state’s economic development success. These power contracts will have a significant impact in boosting local economies throughout the state and are big wins for the local communities.”

Gil C. Quiniones, NYPA president and CEO, said, “The governor’s ReCharge NY program has thrived since 2012, allowing NYPA to leverage its low-cost hydropower to help businesses and not-for-profit organizations prosper in New York state. The low-cost power goes directly to a business’s bottom line, allowing it to reinvest in its operations and plan for the future.”

Statewide

The NYPA board approved 15 allocations of low-cost power under the statewide ReCharge NY program to 12 New York enterprises in support of 450 jobs, with 206 of those being newly created. Gov. Andrew M. Cuomo’s ReCharge NY program, established in 2012, has encouraged companies to retain and create jobs, while sparking capital investment throughout the state. Including this round of allocations, ReCharge NY awards have been made to nearly 740 businesses and not-for-profit organizations.

The low-cost power awards will be distributed to enterprises in Western New York, the North Country, Central New York, Finger Lakes, the Capital District, New York City, and on Long Island.

Included among the businesses receiving RNY power are John Mezzalingua in Syracuse, Cayuga Milk in Auburn, WHTB Glass in Shirley and Lydall Performance Materials in Beaver Falls.

Click for the full list of ReCharge NY allocations.

New York State Senate Energy Chairman Kevin Parker said, "It is imperative for us to continue to expand employment opportunities across New York state. ReCharge NY is a great initiative and I applaud Gov. Cuomo for this forward-thinking investment in the future of New York and its workforce.”

Western New York

The NYPA trustees approved a one-MW hydropower allocation to Unifrax in Tonawanda to support the creation of 10 jobs and $36 million in capital investments. The 10-year power allocation is in support of a new production line at Unifrax’s Pirson Parkway facility that includes significant building modifications and the procurement and installation of equipment, including compressors and ovens. The new manufacturing line is anticipated to be operational in summer 2020.

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 approved two funding awards under the Western New York Power Proceeds program. Buffalo Arts and Technology Center is receiving $38,768 to support $194,000 over the next three years in planned programming for the establishment of sterile processing and distribution and phlebotomy curriculums. Ashdan Screw Machine Products in Lockport will receive $12,500 to support its $165,000 expansion project that includes the addition of machinery and equipment to produce small, high-volume, high-precision parts and take on more business with an existing customer.

The NYPA funding award is made possible through net earnings resulting from the sale of unused hydropower generated at NYPA’s Niagara power plant and stems from power proceeds legislation signed into law by Cuomo in 2012. To be eligible for power proceeds awards, enterprises must be located within a 30-mile radius of NYPA’s Niagara power plant, and the projects must support the growth of business and lead to the creation or protection of jobs. Contracts include provisions for periodic audits to ensure the funds are used for agreed-upon purposes.

The NYPA board also approved three seven-year allocation extensions for existing ReCharge NY customers around the state. Those allocations directly support more than 300 jobs and are tied to $3 million in new capital investments over the next several years.

Click for the full list of the seven-year RNY allocation extensions.

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. The remaining 455 MW is lower-cost power bought by NYPA on the wholesale market.

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

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 70% 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.

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