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 Jobs^TM
In July 2007, the Governor signed legislation extending the Power for Jobs program which provides approximately 483 megawatts (mw) of economical electricity to businesses and not-for-profit corporations that commit to create or retain jobs in New York. Participants receive benefits either through a cash rebate from NYPA to offset their electricity costs or through a discount on utility delivery rates. The Power for Jobs program, which was created in 1997, supports some 270,000 jobs at approximately 525 business and not-for-profit organizations throughout the state. The legislation signed by the Governor will allow current program participants to extend their contracts through June 30, 2008.

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.

Highlights:

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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