Economic Development Programs
Economic development is a top priority for the New York Power Authority, America's largest state public power organization. We provide the lowest-cost electricity in New York State and we're the only statewide electricity supplier.
Our economical electricity, already linked to more than 400,000 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 10 Regional Economic Development Councils, Empire State Development Corporation, the New York State Economic Development Power Allocation Board and other local and regional economic development organizations to encourage businesses to locate and expand in the state and create and retain jobs.
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 on 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 in return for their creating jobs and undertaking significant capital investments. The hydropower, some of the lowest cost electricity in the country, is classified as either Replacement Power (RP) or Expansion Power (EP)—two state statutorily authorized programs. The power is delivered through arrangements with National Grid and New York State Electric and Gas. NYPA allocations of Niagara hydropower are made with input from the Western New York Advisory Group, which consists of state and local economic development interests.
Another dimension to the Niagara project’s value is the sale into the wholesale marketplace of unutilized RP and EP for using the net revenues, or proceeds, to make grant awards to Western New York businesses to spur economic development. Eligible enterprises can apply to the Western New York Power Proceeds Allocation Board (WNYPPAB). The Proceeds board solicits and reviews applications and makes funding recommendations to the NYPA Trustees.
The Power Authority also provides low-cost Niagara hydropower to 47 municipal electric utilities and four rural electric cooperatives in the state to meet the increased electric load those community-owned systems may experience from new or expanding businesses. The systems benefit from the hydropower as preference customers under federal law. They serve communities that range from rural areas to small villages to moderate size cities, totaling more than a quarter million in population.
ST. LAWRENCE-FDR HYDROPOWER
Another statutorily authorized program—the Preservation Power Program—provides for the assignment of low-cost hydropower from the St. Lawrence-Franklin D. Roosevelt Power Project to North Country businesses in St. Lawrence, Jefferson and Franklin counties. This includes allocations to existing businesses seeking 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 investments.
To find out more about how we can help your enterprise, contact our Marketing and Economic Development group at Energy.2015@NYPA.gov or 1-866-314-4110.