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Said to be creating 1,000 jobs in Town of Niagara
√ Board also approves economic development awards to Micron in Central New York,
Gov. Kathy Hochul announced 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 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," 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 the 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.
Hochul’s team said, “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.
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."
Empire State Development President, CEO and Commissioner Hope Knight said, "These NYPA-approved awards will supercharge economic development across New York state, powering further job creation and investment. By supporting Micron and other transformational projects, we are reenergizing growth and opportunity for all New Yorkers."