Friday, April 26, 2024 | St. Lawrence County, NY
The New York Power Authority Board of Trustees approved low-cost power allocations to 30 organizations under the ReCharge NY program that will support 1,362 jobs, including 230 new positions, but …
This item is available in full to subscribers.
To continue reading, you will need to either log in to your subscriber account, or purchase a new subscription.
If you are a digital subscriber with an active, online-only subscription then you already have an account here. Just reset your password if you've not yet logged in to your account on this new site.
Otherwise, click here to view your options for subscribing.
Please log in to continue |
The New York Power Authority Board of Trustees approved low-cost power allocations to 30 organizations under the ReCharge NY program that will support 1,362 jobs, including 230 new positions, but none of them will benefit St. Lawrence County.
Through these allocations, 5,346 kilowatts of low-cost power will be distributed among 26 business operations and four nonprofit organizations, and are expected to leverage more than $57 million in capital investments.
Enterprises in Central New York, the Finger Lakes, Long Island, Mid-Hudson Valley, Mohawk Valley, New York City, Southern Tier and Western New York were recipients.ReCharge NY offers up to seven-year power contracts.
Half of the power--455 MW—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 MW is lower-cost power bought by the Authority on the wholesale market.
Despite that fact that a large portion of the power provided to the Recharge NY program comes from St. Lawrence County, a January report showing job creation and retention stemming from Recharge NY, showed the North Country region benefited least of all areas in the state.
Including today's allocations, ReCharge NY has provided more than 783 megawatts to 694 business operations and 73 nonprofit organizations.
One megawatt is enough power to meet the needs of 800 to 1,000 typical homes.
The power allocations under ReCharge NY stem from legislation signed by Governor Cuomo in 2011.
The program, administered by the New York Power Authority, is designed to spur economic development by providing low-cost power to businesses and other entities that agree to retain or create jobs.
Gov. Cuomo says the Finger Lakes Forward, Central NY Rising and Southern Tier Soaring, the regions’ comprehensive blueprints to generate economic growth and community development. Now, the regions are accelerating their plans with a $500 million state investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015.
