(WBNG Binghamton) New York Governor Andrew M. Cuomo on Monday announced that 38 businesses across New York State will create an estimated 3,200 jobs as a result of low-cost power allocated through the third round of the ReCharge NY power program.
According to a news release:
The ReCharge NY program was created by the Governor and put in place by the Legislature in 2011. The program is designed to spur economic development in all corners of the state by providing low-cost power to businesses and other entities that agree to create or retain jobs.
"New York State is coming back stronger than ever before, and to help fuel our economic recovery, government is partnering with the private sector to give businesses the tools, confidence, and resources they need to create jobs and hire New York workers now," Governor Cuomo said. "Since we launched ReCharge NY a few months into my administration, it has already helped retain thousands of jobs, and generate tens of millions of dollars in private sector investments in communities across the state. Today's allotment of additional grants of low-cost power will continue the extraordinary success of ReCharge NY, while demonstrating that an innovative, entrepreneurial government can truly work to rebuild our economy."
The first two rounds of ReCharge NY provided low-cost power allotments to more than 600 businesses and 76 not-for-profit organizations, helping retain nearly 385,000 jobs. The power allocations announced today by the Governor were approved this morning by the New York Power Authority (NYPA) Board of Trustees, and are the first allocations from the ReCharge NY program to be tied directly to job creation.
John R. Koelmel, NYPA chairman, said, "The allocations approved today by the Power Authority Board of Trustees are another triumphant result of Governor’s Cuomo’s ReCharge NY program, which was specifically designed under statute to be a cornerstone for driving the state’s economy, not only for protecting jobs but for creating new ones. The Power Authority takes great satisfaction in carrying out the Governor’s program and supporting his vision for bolstering the employment rolls. The ReCharge NY allocations—and the significant savings to the recipients—will contribute to this effort."
Gil C. Quiniones, NYPA president and chief executive officer, said, "The Power Authority has worked closely with state and regional economic development officials to maximize the benefits of Governor Cuomo’s ReCharge NY program. The newly approved allocations are the first that we’re making for job creation, marking another important milestone in this innovative initiative. We’re looking forward to additional allocations for both job creation and retention in the months ahead, to further the benefits of this bold new program to revitalize the state’s economy."
Senate Majority Leader Dean G. Skelos said, "Energy costs are a major expense for employers across the state. That’s why the Senate worked closely with Governor Cuomo to establish the Recharge NY program to provide reliable, affordable power to businesses and consumers. By reducing their energy costs, Recharge NY helps companies to be more competitive so they can retain and create jobs."
Assembly Speaker Sheldon Silver said, "Providing low cost power to New York businesses through Recharge New York is an important economic development tool. The benefits of this program are aimed at boosting the productivity of our companies, creating jobs, keeping companies and their employees in New York. This is an important step to help our businesses thrive in a highly competitive global market. I applaud the Governor for working with the Assembly to adopt a comprehensive approach to economic development and for working to capitalize on each region’s unique economic assets in order to build a strong state economy."
Senator George D. Maziarz said, "The Recharge NY Program is something that I championed in Albany in order to provide jobs as well as stability for companies in the assurance of a seven year contract. This low cost energy will inevitably help keep businesses in New York for a long time and will in turn help grow our economy. I applaud the New York Power Authority and Governor Cuomo for their selection of such deserving recipients."
The enactment of the ReCharge NY legislation in 2011 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. Over prior years, a number of efforts had been undertaken in this direction only to fall short. ReCharge New York replaced two existing initiatives—the Power for Jobs (PFJ) and Energy Cost Savings Benefit (ECSB) Programs. Unlike ReCharge New York, those two programs provided for only short-term allocations, limiting their effectiveness as an economic development tool.
The allocations approved today total more than 29 MW and will be drawn from 200 MW specifically reserved for business expansion and attraction under the 910-MW program. One megawatt is enough power for meeting the electricity needs of 800 to 1,000 typical homes. To date, the NYPA trustees have awarded approximately 716 MW of power under the program.
NYPA worked in close consultation with the Governor’s Regional Economic Development Councils to evaluate the ReCharge NY applications to ensure that local economic development strategies were given sufficient weight in the consideration of the applications. In addition to jobs and capital investment commitments, other evaluation criteria included the significance of the cost of electricity to the overall cost of doing business, applicant’s risk of closure or curtailing operations, the significance of the applicant’s facility to the local economy, and its commitment to energy efficiency.
The ReCharge NY program offers up to seven-year power contracts. Half of the power under the program—455 mw—is low-cost hydropower from NYPA’s Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric projects. The remaining 455 MW is economical power secured by NYPA from market sources.