Low-Cost Hydropower to Keep
Laser-Cutting Company in Capital District and Help to Create 15 Jobs
February 26, 2008
FOR IMMEDIATE RELEASE
WHITE PLAINS—The New York Power Authority (NYPA)
announced today that its low-cost electricity will help retain an
Albany County metal-cutting services company that was poised to
relocate some of its operations out of state.
The NYPA Board of Trustees today approved an
allocation of 150 kilowatts (kw) of hydropower from the Power
Authority’s Niagara Power Project to the Green Island Power
Authority. This will support plans by Arcadia Supply to relocate one
of its two Albany facilities to the village to obtain additional
manufacturing space and expand its business.
Arcadia plans to add 15 jobs to the relocated
operations in Green Island, where it is investing $4 million on a
new building and equipment. Those jobs will be in addition to the 38
existing jobs it will move to the new facility from Albany.
“This power allocation demonstrates NYPA’s
commitment to help retain and expand businesses in communities
served by municipal electric systems and rural cooperatives across
the state,” said Roger B. Kelley, NYPA president and chief executive
officer. “We’re happy to team up with the Green Island Power
Authority to keep Arcadia Supply in the Capital District.”
Up to 54,000 kw of hydropower is made available
under NYPA’s Industrial Economic Development program for the state’s
51 municipal electric systems and rural cooperatives from a
federally mandated block of Niagara power that serves those
Arcadia manufactures metals and high-temperature
metal alloys for industries engaged in architecture and ornamental
work, power generation, military applications and various other
endeavors. It uses state-of-the-art laser and water-jet cutting
systems for its precision work.
The new facility in Green Island will provide
Arcadia with four times as much manufacturing floor space as its old
facility in Albany. The company had been exploring alternate
locations in Florida and Ohio before deciding on Green Island.
■ 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. ■ NYPA is a leader in promoting
energy-efficiency, new energy technologies and electric
transportation initiatives. ■ It is the
nation’s largest state-owned electric utility, with 18 generating
facilities in various parts of the state and more than 1,400
circuit-miles of transmission lines.
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