N.Y. Power Authority Helps to Offset Electricity Costs of Hauppauge Printing Company
February 19, 2010
FOR IMMEDIATE RELEASE
WHITE PLAINS—New York Power Authority (NYPA) President and Chief Executive Officer Richard M. Kessel today announced that a printing company in Hauppauge is among the latest businesses to benefit from a NYPA initiative to offset the electricity costs of companies at risk of relocating or closing as a result of the downturn in the economy.
The NYPA Board of Trustees has approved an Industrial Incentive Award of up to $20,000 to New Horizon Graphic (NHG), a family-owned and operated company that employs 30 people. Electricity use accounts for a significant portion of the company’s operating costs, and is one of the areas it has been giving attention to in order to lower expenditures.
“We recognize the pressures that businesses are under to lower their costs to get through this difficult economic time of reduced demand for products and services,” Kessel said. “Under Governor Paterson’s direction, the New York Power Authority has stepped up its efforts to lower electricity costs throughout the state, especially for businesses struggling to survive. The Industrial Incentive Award to New Horizon Graphic is part of that effort, as we work in partnership with the company to protect the job security of its Long Island employees.”
“I want to express our sincere thanks to the New York Power Authority for its responsiveness to the economic challenges that we’re facing by making available to us an Industrial Incentive Award to help defray a portion of our electricity costs,” said Tony Guida, owner of NHG. “Our company is working hard to ensure that we continue to be a contributing member of the Long Island businesses community, where we’ve operated for more than 25 years. It is of great satisfaction knowing that New York State appreciates the importance of our small business and is willing to help.”
“We’re grateful to Richard Kessel and the NYPA Board for their support of New Horizon Graphic, which mostly sells its printed materials to other Long Island businesses,” said Assemblyman Michael J. Fitzpatrick. “In providing the Industrial Incentive Award to New Horizon, NYPA is also affecting other businesses on the Island that engage in commerce with the company, so there is a positive ripple effect from initiatives like this.”
The Industrial Incentive Award, for a period of one year, will take the form of a discount on NHG’s electric rate, as applied to an annual level of electricity consumption agreed to by the company, which has electric bills of thousands of dollars per month.
At a meeting of the NYPA Trustees in September, the board approved the extension of an Industrial Incentive Award Economic Development Plan to provide electric bill discounts to qualified New York businesses. Industrial Incentive Awards are linked to job commitments.
The economic development plan resulted in Industrial Incentive Awards to a number of companies in various parts of the state. In addition to New Horizon Graphic, other Suffolk County companies to receive awards are CA, Inc. (formerly known as Computer Associates), GE Aviation Systems and Positive Promotions, for helping to protect approximately 2,500 jobs at those firms.
Elsewhere in the state, beneficiaries of Industrial Incentive Awards have included International Wire Group in Oneida and Madison Counties, Nucor Steel Auburn in Cayuga County and the Erie Canal Harbor Development Corp. in support of waterfront redevelopment efforts the agency is spearheading at Buffalo’s inner and outer harbors.
New Horizon Graphic may be eligible to renew its Industrial Incentive Award after one year provided it continues to meet its commitment to protect the jobs of its existing workforce. As business conditions improve, the company hopes to rehire several employees who were laid off in early 2009.
The NYPA Trustees’ approval of the award to New Horizon Graphic followed a recommendation by the New York State Economic Development Power Allocation Board (EDPAB) that the NYPA board approve the grant. EDPAB also makes recommendations in connection with other economic development programs administered by NYPA under New York State law that are linked to more than 300,000 jobs at hundreds of enterprises across the state.
On Long Island, those initiatives—the Power for Jobs and Energy Cost Savings Benefits programs—help to protect approximately 34,000 jobs at nearly 60 companies and non-profit organizations.
■ The New York Power Authority 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 public power organization, with 17 generating facilities in various parts of New York State and more than 1,400 circuit-miles of transmission lines. ■ More than 80 percent of the electricity it produces is clean renewable hydropower. Its lower-cost power production and electricity purchases support hundreds of thousands of jobs throughout the state. ■For more information, www.nypa.gov.