N.Y. Power Authority Selects Firm for St. Lawrence County Business Attraction Program

For Immediate Release: 6/16/17

Contact: Paul DeMichele | paul.demichele@nypa.gov | (914) 390-8186

WHITE PLAINS—The New York Power Authority has selected OCO Global to lead a program designed to help attract more businesses and industry to St. Lawrence County. The selection of the global business expansion search firm marks another significant step toward achieving a comprehensive economic development strategy for St. Lawrence County.

“The Power Authority’s economic development plan for St. Lawrence County is a comprehensive initiative designed to promote growth in the region,” said Gil C. Quiniones, NYPA president and CEO. “OCO Global has the business development expertise that is needed to attract more difference-making industries to the North Country.”

The identification of this global economic development partner is the latest advance in the comprehensive economic development initiative established by NYPA in collaboration with more than 130 St. Lawrence County officials, economic development experts, university presidents and business leaders.

OCO Global, with an office in New York and offices around the globe, is headquartered in Belfast. The firm is a recognized leader in global business attraction, successfully delivering internationalization strategies for companies since 2001. The firm has supported the creation of thousands of US jobs through their work attracting foreign direct investment on behalf of economic development organizations.

“International investors are continually seeking opportunities to expand their operations in the U.S. and St. Lawrence County’s assets of low-cost energy and general business costs, access to talent from world class education systems and access to the North American market make it a very attractive region” said Mark O’Connell, OCO Global’s CEO and Founder. “OCO will ensure that leading companies across the world, that have synergies with what St. Lawrence County offers, will be aware of how the region can help their business grow. OCO is excited about partnering with NYPA to power up the region’s investment potential.”

OCO Global will pursue international companies from across the world that are ideally suited to fully utilize the county’s assets and who are poised to establish a U.S. location. It expects there to be significant business opportunities from the major global source markets of foreign direct investment such as Canada, Western Europe and Asia. The firm will be subcontracting with specialist firms in different locations to assist in the search.

OCO Global will work with a St. Lawrence County economic development team comprised of regional authorities, including NYPA, the St. Lawrence County Industrial Development Agency, Empire State Development, St. Lawrence County Economic Development Advisory Board and technical experts from the business sectors that are most attractive to the area, like agriculture and manufacturing.

To attract more businesses to the area, the firm is charged with leveraging the North Country’s assets, which include low-cost hydropower, world class universities and colleges, lower costs of doing business and abundant fresh water. The global search for industries and businesses to operate in the area will be completed within the next nine months and incentives are built-in to the outreach plan to encourage the best results.

The Power Authority’s St. Lawrence County Economic Development Study, developed by McKinsey & Co. in December 2015, identifies opportunities for growth and action steps to bolster the North Country economy. It is estimated that the strategies outlined in the study could create as many as 1,900 jobs and up to $190 million in new economic activity by 2020 in St. Lawrence County.

A summary of the study can be viewed at:

http://www.nypa.gov/-/media/nypa/documents/document-library/licensing/stlcountyreport1221.pdf

State Senator Joseph Griffo said: “Now that OCO Global has been selected to attract promising businesses to St. Lawrence County, it’s only a matter of time until more companies from across the globe will begin to realize how much potential the North Country has for economic growth. The Power Authority and regional leaders have a vision for what needs to be done to further develop St. Lawrence County, and I believe this comprehensive strategy will help identify those businesses that will truly have the greatest impact on the region.”

“With a talented labor force, low cost power, outstanding institutions of higher learning and more, St. Lawrence County has unlimited potential for growth,” said Senator Patty Ritchie. “I look forward to working with OCO Global to capitalize on these assets and bring new opportunities to our region.”

“We know it is critical to bring new, good paying jobs with benefits to the North Country, and the selection of this firm is the latest step the New York Power Authority has undertaken to make that happen,” said Assemblywoman Addie A.E. Jenne. “The study was an important first step, but it comes down to our ability to create new jobs here. We need jobs to keep local residents here, to bring home North Country natives who have had to leave here to find good jobs and to attract newcomers to our region. I'm hopeful OCO Global can help us reach that goal. I'm looking forward to having the opportunity to sit down with OCO Global officials so they can see firsthand the support for this effort to grow our economy from all levels of government, our work force and North Country residents—past, present and future."

“As a hub for the North Country with outstanding assets to leverage global gateways, innovation and a talented workforce, St. Lawrence County is ready for this kind of investment,” said Anthony G. Collins, President of Clarkson University and Co-Chair of the NCREDC.  “We look forward to working with OCO Global to further develop partnerships with the firms, entrepreneurs and organizations they attract.”

Stephen Hunt, North Country Regional Director for Empire State Development, said, “Promoting regional economic growth, including attracting new businesses and supporting job creation, remains a priority across the North Country. We look forward to working with OCO Global to encourage more economic development throughout St. Lawrence County.”

"This is an exceptional opportunity for us to promote the advantages of St. Lawrence County to markets and industries far beyond our local reach, St. Lawrence County Industrial Development Agency CEO Patrick Kelly said. “Our partnership with NYPA on this and other economic development initiatives is an increasingly valuable component of our efforts to improve the economy in St. Lawrence County.   I'm optimistic these shared efforts are going to pay off."

About NYPA

 

NYPA is the largest state public power organization in the nation, operating 16 generating facilities and more than 1,400 circuit-miles of transmission lines. More than 70 percent of the electricity NYPA produces is clean renewable hydropower. NYPA 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. For more information visit www.nypa.gov and follow us on Twitter @NYPAenergy, Facebook, Instagram, Tumblr and LinkedIn.