Development
News:
December 15, 2009 - N.Y. Power Authority CEO Announces Public Hearing on Proposed Power Contract for Major Project at Brookhaven National Laboratory and Hundreds of New Jobs
December 15, 2009 - NYPA CEO Announces Extension of Low-Cost Power Supply Contracts with Niagara Frontier Transportation Authority
November 23, 2009- Governor Paterson Announces Globe Specialty Metals has Reopened in Niagara Falls
November 9, 2009- NYPA Opens Office in Buffalo, Highlighting Commitment to Western New York
October 27, 2009- Governor Paterson Announces North Country Power Discount Program for Thousands of Businesses and Dairy Farms (Governor's press release)
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December 2009 - Report to the Governor and Legislative Leaders on NYPA Power Programs for Economic Development
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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 nearly 240,000 jobs at approximately 475 business and not-for-profit organizations throughout the state. Legislation signed by the Governor in July 2009 will allow current program participants to extend their contracts through May 25, 2010.
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 arrangements with National Grid and New York State Gas and Electric, the utilities that deliver 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.