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Economic Development
Economic development is a top priority for the New York Power
Authority, America’s largest state-owned public power enterprise. We
provide the lowest-cost electricity in New
York State and we’re the only statewide electricity supplier.
Our economical electricity, already linked to more
than
400,000 jobs statewide, can make the difference between jobs
growing here or going elsewhere. The Power Authority
works with state and local entities, including the New York State
Economic Development Power Allocation Board (EDPAB) and the
Western New York Advisory Group, to further
promote economic development within New York State.
As public officials review the state’s economic
development power programs, the Power Authority works with state policy-makers to assure that effective and
enduring measures are adopted to sustain NYPA’s ability to supply
competitively priced power to keep and create jobs in the Empire
State.
Over the years, the Power Authority has been
authorized through state and federal legislation to administer nine
separate power programs for economic development. Here are some
highlights:
Power for
JobsTM
In 1997, the New York State Legislature approved a Power
For JobsTM (PFJ) program which provided 400 megawatts
(MW) of low cost power to businesses and not-for-profit corporations
that committed to create or retain jobs in New York. Due to its
success, the program has been amended several times, but continues
to play an important role in New York’s economy. In its present
form, PFJ participants receive benefits either through a cash rebate
from NYPA to offset their electricity costs or through a discount on
electricity rates. The program currently supports some 241,000 jobs
at approximately 480 business and not-for-profit organizations
throughout the state. Legislation signed by the Governor in June
2008 will allow current program participants to extend their
contracts through June 30, 2009.
Economic Development Power
EDPAB members make recommendations on Power for Jobs allocations
as well as a separate program associated with NYPA Economic
Development Power (EDP). This program is different from Power for
Jobs in a number of ways, including eligibility criteria and
contract length.
Niagara Hydropower
The Power Authority sells large amounts of electricity generated
at its Niagara Power Project to Western New York businesses. This
hydropower is classified as either replacement power or expansion
power, and is delivered through an arrangement with National Grid,
the utility that supplies the region’s electricity. Since 2003,
industrial allocations of Niagara hydropower are made based on
recommendations of the Western New York Advisory Group, consisting
of state and local economic development interests.
Municipal and Rural Cooperative
Economic Development Program
The Power Authority provides low-cost power to the
47 municipal electric
utilities and four rural electric cooperatives it serves in New
York State, making them attractive locations for economic
development. These systems serve communities that range from rural
areas to small villages to moderate size cities, totaling more than
a quarter million in population. For more information, contact the
municipal systems and rural electric cooperatives.
A Powerful Team
The Power Authority has several other economic development
programs for New York State businesses. To find out more about how
we can help your enterprise, contact our Marketing and Economic
Development group at
edpab@nypa.gov
or 1-888-JOBSNYPA. |
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News;
February
27, 2009 - Governor Paterson Announces Plans to Support Brookhaven
National Laboratory with NYPA Power Allocations: Low-Cost
Electricity Would Support Plans for High-Intensity Light Beam
Project and Hundreds of New Jobs (Governor's press release)
July 22, 2008 - New Chairman of State Economic Development Power
Allocation Board to Preside at Meeting on Tuesday (EDPAB press
release)
June
26, 2008 - Governor Paterson Announces Hydropower Allocations to Three Western
New York Businesses (Governor's press release)
May 20, 2008- Three Niagara Falls
Manufacturers Receive Low-Cost Niagara Hydropower Allocations for 139
New Jobs and Nearly $20 Million in Capital Investment
May 1, 2008 - Hydro Allocations to Support
Creation of 110 New Jobs in Western New York
February 8, 2008 - NYPA
President Kelley Hails Agreement with Alcoa
January 29, 2008 - NYPA
Trustees Approve Agreement in Principle with Alcoa Toward Hydropower
Contract and Preservation of Jobs and Capital Investment in North
Country
November 8, 2007 - NYPA Approves Hydropower
Extensions to Nine Western New York Companies
April 2007 - 2006 Report to the
Governor and Legislative Leaders on Power for Economic Development
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