Finch Announces First Round Of Power Allocations For Recharge New York Program
Assemblyman Gary D. Finch (R,C,I – Springport) today announced that 517 businesses and not-for-profit organizations across New York state will be awarded the first round of low- cost power allocations under the 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 New York state companies.
The New York Power Authority (NYPA) Board of Trustees approved the allocations totaling nearly 600 megawatts to 517 enterprises across New York in return for their retention of thousands of jobs and billions of dollars in capital investments. The power will be available July 1, as provided for under the RNY legislation signed into law last year by Governor Cuomo.
“Providing low-cost energy to businesses will allow them to grow, and in doing so, create much-needed jobs for our region,” said Finch. “It’s important that we provide incentives for employers to stay in the area and to cultivate our workers, taking full advantage of our skilled and diverse workforce.”
The following businesses and organizations in and around the 123rd Assembly District will benefit from the program: Norwich Pharmaceuticals, Inc., Unison Industries, LLC, Auburn Community Hospital, Currier Plastics, Inc., D&W Diesel, Inc., Nucor Steel Auburn, Inc., Owens-Brockway Glass Container, Inc., Albany International Corporation, Bestway of New York, Inc., BorgWarner Morse TEC Inc., Welch Allyn, Inc., Tessy Plastics Corp., GE Inspections Technology LP, HandHeld Products, Intertek Testing Services NA, Inc., Natrium Products, Inc., BAE Systems, HADCO Corporation, Lockheed Martin MS2 Owego, National Pipe and Plastics, Inc., Professional TeleConcepts, Inc., and United Health Services, Inc.
For a complete list of the RNY statewide awardees visit: http://www.nypa.gov/RechargeNY/default.htm.
The RNY program offers up to seven-year contracts for lower-cost power. The legislation establishing the program reserves at least 350 MW for upstate businesses and institutions, 200 MW for business attraction and expansion, and up to 100 MW for not-for-profit organizations.
The enactment of the Recharge New York legislation was a major achievement in New York State's efforts to partner with businesses across the state in the harnessing of its lower-cost power for economic development.
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 Recharge New York, those two programs provided for only short-term allocations, limiting their effectiveness as an economic development tool.
Additional power allotments under RNY are expected in the months ahead from the remaining amount of lower-cost power set aside under the legislation for the program. (One megawatt is the equivalent of power used by 800 to 1,000 typical homes.) 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.