Economic development is a top priority for the New York Power Authority, America's largest state 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 over 350,000 jobs statewide, can make the difference between jobs growing here or going elsewhere. We work with state and local entities, including Governor Andrew M. Cuomo's Regional Economic Development Councils, Empire State Development Corporation, the New York State Economic Development Power Allocation Board (EDPAB) and other local and regional economic development organizations to further promote economic development within New York State.
Governor Cuomo signed legislation in April 2011 establishing a new statewide economic development power program that is helping to secure family-supporting jobs and enhance the New York State economy now and for the future. We worked closely with the Governor's office to effectively implement all of the aspects of the ReCharge New York (RNY) program. Since RNY became effective on July 1, 2012, more than 700 businesses and not-for-profit organizations across the state have received power allocations. For more information regarding the program and how qualified businesses and not-for-profit organizations may participate, visit our ReCharge New York web section.
We sell large amounts of electricity generated at our 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 with input from the Western New York Advisory Group, which consists of state and local economic development interests. Net earnings from the sale of unutilized expansion and replacement power are directed to the Western New York Economic Development Fund. Eligible businesses and not-for-profit organizations can apply to the Western New York Power Proceeds Allocation Board (WNYPPAB) for funding for economic development projects; this board solicits and reviews applications and makes funding recommendations to the NYPA Board of Trustees.
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.
This program is available to eligible businesses located in Franklin, Jefferson and St. Lawrence counties that want to expand and to new businesses that would like to locate in the region. Minimum eligibility criteria include, but are not limited to, new electric load, new job creation and planned capital investment. Contract terms are for a minimum of 5 years. The power comes from a block of competitively priced hydropower generated at NYPA's St. Lawrence–FDR Power Project.
To find out more about how we can help your enterprise, contact our Marketing and Economic Development group at Energy.2014@NYPA.gov or 1-866-314-4110.