Assemblyman Clifford W. Crouch (R,I-Guilford) today announced the first round of lower cost power allocations under the new ReCharge New York (RNY) program, a major statewide initiative for retaining and creating jobs, and spurring capital investments by making low-cost power available to small businesses and not-for-profits in New York state. The program was signed into law last year and will be available July 1 of this year.
“This is a great program that will help our local economies grow by giving small- and medium-sized businesses the ability to create or retain jobs, while at the same time providing low-cost energy,” said Crouch. “With the expiration of the Power for Jobs program, a rethinking and retooling of the program was necessary in order to keep businesses here and hiring over the long term.”
ReCharge New York replaced two existing initiatives – the Power for Jobs (PFJ) and Energy Cost Savings Benefit (ECSB) programs – which statutorily expire on June 30. Unlike RNY, those two programs provided for only short-term allocations, limiting their effectiveness as an economic development tool. The RNY program offers up to seven-year contracts for low-cost power to 442 businesses and 75 not-for-profits. Of the 517 allocations, 258 companies will be new New York Power Authority (NYPA) customers.
“This is a major achievement to help build a partnership with the state and businesses that harnesses low-cost power for economic development,” said Crouch. “Many businesses in the Southern Tier will benefit from this program, and I am happy to have supported it.”
Crouch highlighted several businesses in or near the 107th Assembly District that would benefit from the RNY program: Agro-Farma, Inc. in New Berlin; Norwich Pharmaceuticals Inc., Unison Industries, LLC, and Professional TeleConcepts Inc. in Norwich; BAE Systems in Johnson City; Buckingham Manufacturing Co., Inc. in Binghamton; Willow Run Foods, Inc. in Kirkwood; Maines Paper & Food Service in Conklin; Margaretville Hospital and Mountainside Residential Care Center in Margaretville; and Mountainside Farms, Inc. in Roxbury. For a complete list of RNY awardees, visit http://www.nypa.gov/RechargeNY/default.htm.
Additional power allotments under RNY are expected in the months ahead from the remaining amount of low-cost power set aside under the legislation for the program. Half of the amount of power – 455 MW – is low-cost hydropower from NYPA's Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric projects in Lewiston and Massena, respectively. The remaining 455 MW is economical power secured by NYPA from wholesale market sources.