NEWS

New York Power Authority Allocates Low-Cost Power to Help Hurricane-Damaged Delaware County Company Rebuild

Contact :
Christine Pritchard
(518) 433-6839
christine.pritchard@nypa.gov


March 29, 2012

FOR IMMEDIATE RELEASE

WHITE PLAINS—The New York Power Authority (NYPA) Board of Trustees on Tuesday approved an allocation of low-cost power to keep Amphenol Aerospace Operations in Delaware County and save hundreds of local jobs.  The company, which sustained extensive damage due to last summer’s tropical storms, will move its manufacturing facility to a local site safer from future flood risks.

Last November, Gov. Andrew M. Cuomo announced a $20 million incentive package to Amphenol Aerospace, a division of Amphenol Corporation, which is one of the world’s largest manufacturers of interconnect products for the military, commercial aerospace and industrial markets that would save nearly 1,000 jobs.

On Tuesday, NYPA’s Board of Trustees awarded 2,300 kilowatts of low-cost power through the Authority’s Municipal and Rural Electric Cooperative Economic Development Program. This program makes available power to the 51 municipal electric systems and rural cooperatives throughout the state for economic development purposes in the systems’ service territories.

“With the support of low-cost power and other state incentives, Amphenol Aerospace, one of Delaware County’s most significant employers, will continue to call New York State ‘home’ and remain an integral part of the community and the economy,” said Governor Cuomo.

 “The New York Power Authority stands ready to support Governor Cuomo’s efforts to revitalize the state’s economy and is pleased to provide our resources to help retain Amphenol Aerospace in the Southern Tier,” said Michael J. Townsend, NYPA chairman. “This is another great example of how, under the leadership of Governor Cuomo, state and local officials can work together to provide the support and assistance needed to advance economic revitalization efforts.”

“We at Amphenol are proud to renew our commitment to New York State and to our local employees, the vast majority of whom were faced with the same devastating aftermath of Hurricane Irene and Tropical Storm Lee as was our company last summer,” Amphenol Aerospace & Industrial Group Senior Vice President Gary Anderson said. “We also want to thank our partners, including Governor Cuomo, the New York Power Authority and local officials who were resolute in their efforts to help us return to operational capability and to rebuild our facilities.”

The power allocation request was submitted to the Power Authority by Delaware County Electric Corporation on behalf of Amphenol Aerospace. The allocation will be contingent upon service interconnection between the electric corporation and the company.

“We are pleased to work with Amphenol Aerospace to meet the electricity needs of this important Delaware County employer,” said Gregory Starheim, chief executive officer and general manager for Delaware County Electric Cooperative. “This power allocation from the New York Power Authority will also help support economic recovery efforts throughout our service territory, which was so badly ravaged by last summer’s severe weather.”

Amphenol Aerospace, which has operated out of its current facility in Sidney, N.Y. for over 80 years under a variety of names, experienced severe flooding from last summer’s storms, which devastated its Delaware Avenue facility.  As a result, Amphenol explored moving its operations outside of New York State.

With the intention of having Amphenol Aerospace remain in New York State and preserving decades of industry knowledge and expertise in the region, New York State and Delaware County put forth an incentive package that would support the company’s efforts to relocate Amphenol’s operations from its current facility in Sidney to a new site situated in a location that is at a higher elevation to minimize future flood impacts. Amphenol Aerospace accepted this incentive package, which will consist of land acquisition, site improvements and the construction of the new manufacturing facility. Total capital investment for the expansion project is expected to exceed $35 million with the new facility consisting of a 210,000 square-foot manufacturing space and 60,000 square-foot office space.

The new facility represents significant continued investment in Amphenol Aerospace employees, capital and economic presence in the Sidney area, and is truly a threshold step in securing the future of Amphenol in Sidney, N.Y.   The allocation of power will lower the company’s operating costs and support its commitment to staying in New York.

Senator John Bonacic said, “Keeping Amphenol in our area was the highest priority for Senator Seward and myself.  Many companies would have left after being flooded out twice.  Amphenol’s decision to stay is a tribute to its management and their recognition that the local workforce does a tremendous job.  American made – and New York made, is the best way to do business.”

'I am very happy to see this project move forward,' said Assemblyman Pete Lopez, who represents Sidney in the State Assembly. 'My office has worked hard to help Amphenol, and our many friends and neighbors devastated by the floods, recover. This is a very fragile period for families, farms and businesses. We need to continue efforts to rebuild our communities and ensure our future. Securing Amphenol is a critical part of this process.'


About NYPA:

■The New York Power Authority uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. ■NYPA is a leader in promoting energy efficiency, new energy technologies and electric transportation initiatives.■It is the nation's largest state public power organization, with 17 generating facilities in various parts of New York State and more than 1,400 circuit-miles of transmission lines. ■Approximately 80 percent of the electricity it produces is clean renewable hydropower. Its lower-cost power production and electricity purchases support hundreds of thousands of jobs throughout the state.■For more information, www.nypa.gov


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