Power Awards to Help Create Over
700 New Jobs and Retain 1,637 More
700 New Jobs and Retain 1,637 More
Governor Andrew Cuomo announced today
that the New York Power Authority Board of Trustees has approved
low-cost power allocations under the ReCharge NY program. The power
awards approved by the board today will help 15 businesses retain 1,637
jobs while creating 735 new jobs.
“Through innovative programs like ReCharge NY, we are supporting hundreds of thousands of jobs across the state—a number that only grows as more businesses and nonprofit organizations apply for low-cost power,” Governor Cuomo said. “This new round of power allocations will allow businesses to grow and develop here in New York, leveraging clean power to support real jobs and economic success.”
The 10.4 megawatts of low-cost power will be distributed among 15 business operations and are expected to leverage more than $340 million in capital investments. Amazon LLC in New York City, Bausch & Lomb in Rochester and RUI Management Services on Long Island were among the recipients in this round of allocations. Enterprises in the Mohawk Valley, Southern Tier and Western New York also received ReCharge NY power. A full list can be viewed here.
ReChargeNY is a program proposed and signed by Governor Cuomo in 2011 that allows businesses to purchase low cost power, and spend that savings on retaining and creating jobs. It is administered by the New York Power Authority. Including today’s allocations, the Governor’s program has provided more than 778 megawatts to 679 business operations and 72 nonprofit organizations over the last two-and-a-half years. (One megawatt is enough power to meet the needs of 800 to 1,000 typical homes.)
John R. Koelmel, New York Power Authority Chairman, said, “Today’s vote brings 15 new businesses under the ReCharge NY umbrella. Step by step, the Power Authority is growing its list of customers and the amount of New Yorkers being supported by this impactful economic development program.”
Gil C. Quiniones, President and Chief Executive Officer of the New York Power Authority, said, “The Power Authority trustees have now acted on the 12th round of power allocations under ReCharge NY, matching low-cost power with businesses that need it. New York Power Authority has now allocated more than 85 percent of the available pool of power for the program, bolstering the economic growth of every region in the state.”
In addition to jobs and capital investment commitments, other evaluation criteria for ReCharge NY include the significance of the cost of electricity to the overall cost of doing business, the applicant’s risk of closure or curtailing operations, how important the facility is to the local economy and its commitment to energy efficiency.
ReCharge NY offers up to seven-year power contracts. Half of the power under the program—455 megawatts—is from the Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric power plants, which provide some of the lowest-cost electricity in the state. The remaining 455 megawatts is economical power bought by the New York Power Authority on the wholesale market.
Assembly Energy Committee Chair Amy Paulin said, “ReCharge NY helps businesses create or retain jobs. The latest round of funding will support 2,422 jobs in a wide range of manufacturing and service industries. And because awardees must demonstrate a commitment to energy efficiency, the program is good for our environment as well as for economic development.”
Senator Joseph Griffo, Chairman of the Senate Committee on Energy & Telecommunications, said, “Each round of these allocations continues to provide the incentive for businesses to invest in their operations and expand their labor force. New York has so many sustainable energy resources that can be harnessed to help lessen the cost of doing business in our state, while creating thousands of jobs. Programs like ReCharge NY fuel opportunities that can only make our state stronger.”
“Through innovative programs like ReCharge NY, we are supporting hundreds of thousands of jobs across the state—a number that only grows as more businesses and nonprofit organizations apply for low-cost power,” Governor Cuomo said. “This new round of power allocations will allow businesses to grow and develop here in New York, leveraging clean power to support real jobs and economic success.”
The 10.4 megawatts of low-cost power will be distributed among 15 business operations and are expected to leverage more than $340 million in capital investments. Amazon LLC in New York City, Bausch & Lomb in Rochester and RUI Management Services on Long Island were among the recipients in this round of allocations. Enterprises in the Mohawk Valley, Southern Tier and Western New York also received ReCharge NY power. A full list can be viewed here.
ReChargeNY is a program proposed and signed by Governor Cuomo in 2011 that allows businesses to purchase low cost power, and spend that savings on retaining and creating jobs. It is administered by the New York Power Authority. Including today’s allocations, the Governor’s program has provided more than 778 megawatts to 679 business operations and 72 nonprofit organizations over the last two-and-a-half years. (One megawatt is enough power to meet the needs of 800 to 1,000 typical homes.)
John R. Koelmel, New York Power Authority Chairman, said, “Today’s vote brings 15 new businesses under the ReCharge NY umbrella. Step by step, the Power Authority is growing its list of customers and the amount of New Yorkers being supported by this impactful economic development program.”
Gil C. Quiniones, President and Chief Executive Officer of the New York Power Authority, said, “The Power Authority trustees have now acted on the 12th round of power allocations under ReCharge NY, matching low-cost power with businesses that need it. New York Power Authority has now allocated more than 85 percent of the available pool of power for the program, bolstering the economic growth of every region in the state.”
In addition to jobs and capital investment commitments, other evaluation criteria for ReCharge NY include the significance of the cost of electricity to the overall cost of doing business, the applicant’s risk of closure or curtailing operations, how important the facility is to the local economy and its commitment to energy efficiency.
ReCharge NY offers up to seven-year power contracts. Half of the power under the program—455 megawatts—is from the Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric power plants, which provide some of the lowest-cost electricity in the state. The remaining 455 megawatts is economical power bought by the New York Power Authority on the wholesale market.
Assembly Energy Committee Chair Amy Paulin said, “ReCharge NY helps businesses create or retain jobs. The latest round of funding will support 2,422 jobs in a wide range of manufacturing and service industries. And because awardees must demonstrate a commitment to energy efficiency, the program is good for our environment as well as for economic development.”
Senator Joseph Griffo, Chairman of the Senate Committee on Energy & Telecommunications, said, “Each round of these allocations continues to provide the incentive for businesses to invest in their operations and expand their labor force. New York has so many sustainable energy resources that can be harnessed to help lessen the cost of doing business in our state, while creating thousands of jobs. Programs like ReCharge NY fuel opportunities that can only make our state stronger.”
Source, Press Office, New York State Governor Andrew M. Cuomo
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