X

Potsdam Specialty Papers to add 22 jobs thanks to discount on 400 kilowatts of New York Power Authority hydropower

Posted 2/1/17

POTSDAM -- Potsdam Specialty Papers will receive a discount on 400 kilowatts of New York Power Authority hydropower that the governor’s office says will allow them to expand and create 22 jobs. The …

This item is available in full to subscribers.

Please log in to continue

Log in

Potsdam Specialty Papers to add 22 jobs thanks to discount on 400 kilowatts of New York Power Authority hydropower

Posted

POTSDAM -- Potsdam Specialty Papers will receive a discount on 400 kilowatts of New York Power Authority hydropower that the governor’s office says will allow them to expand and create 22 jobs.

The company will make a $2 million investment in a new production line, which will “enhance production capacity and efficiency and create new products,” according to Gov. Andrew Cuomo’s office. The firm specializes in latex saturation of base papers that are used in several different products in the building and construction, automotive, home décor and medical industries. Its primary product is a specialized masking tape.

A NYPA spokesman said there are too many variables to determine the monetary value of the 400 kilowatts.

“The electricity is provided at a price that has been historically 20 percent less than the wholesale market price in the region,” according to NYPA spokesman Paul DeMichele.

In addition to this latest hydropower award, PSPI also receives a power allocation from the Governor’s ReCharge NY program for the retention of 67 jobs. ReCharge NY is a statewide power program “designed to spur economic development throughout the state by providing low-cost power to businesses and other entities that agree to create or retain jobs,” Cuomo said.

“This commitment from PSPI to expand its operation in St. Lawrence County is great news for the region,” Eugene L. Nicandri, NYPA trustee and Massena resident said in a prepared statement.