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New York Power Authority: Lead Sponsor for Explore Buffalo Niagara 2007: Highlights a History of Economic Support

Timothy S. Carey
President and Chief Executive Officer
123 Main Street
White Plains, New York 10601-3170 

For More Information: 
Connie M. Cullen, 914-390-8196
connie.cullen@nypa.gov

April 24, 2007 

Explore Buffalo Niagara 2007 and NYPA:  Groundbreaking Partnership

The New York Power Authority (NYPA) is proud its Lead Sponsorship served as the groundbreaking contribution for encouraging others to sponsor Explore Buffalo Niagara 2007. From this, the Power Authority believes groundbreakings of another kind will be happening here soon. 

NYPA - A Record of Support for Economic Development to Build On

The Power Authority’s Lead Sponsorship for Explore Buffalo Niagara 2007 is consistent with our extensive support for economic development in Western New York.  The Power Authority has been here for almost 50 years. During that time, the state’s regulations for NYPA’s power allocation programs stressed the importance of providing low-cost hydropower to this region’s businesses and industries. 

Over 43, 000 jobs for Western New York families and billions in capital investment for area businesses are linked to NYPA’s Niagara Power Project.  This low-cost power is sold—at rates of about 75 percent less than average wholesale market prices in New York State—to qualified businesses and industries.  That solid record of supporting economic development helps show the world this region is equipped to compete on an international level.

Even greater economic vitality for Erie and Niagara Counties is planned by NYPA through the recent federal approval of a new 50-year license for the Niagara project.  It has many financial, environmental and recreational benefits for area communities that will include greenway and waterfront development—sure-fire drivers for business opportunities.

New Power Allocations Available

Today, approximately 78 megawatts of low-cost hydropower is available for allocation to eligible businesses and industries.  NYPA is working with the Buffalo Niagara Enterprise, the Niagara County Center for Economic Development and National Grid, in collaboration with Empire State Development Corp., to make existing and potential employers aware of the hydropower availability. For more info, please go to http://www.buffaloniagara.org/Home/Doing_Business/Incentives/NYShydropower.

See you in September,

                                                                                           

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