A local manufacturer and a regional water bottling plant are among the beneficiaries of a low-cost power program overseen by the state, according to a media release from the governor’s office.
Gov. Andrew M. Cuomo announced Tuesday that the New York Power Authority Board of Trustees approved another round of low-cost power allocations under his statewide ReCharge NY program. Nearly 33 megawatts of low-cost power will be distributed among 47 enterprises at 53 facilities. The program is designed to create and retain jobs by offsetting businesses’ electricity costs.
NYPA President and CEO Gil Quiniones called the program “one of New York’s most important economic development tools, supporting hundreds of thousands of jobs, making a real difference for families and communities throughout the state” in the release.
The ReCharge NY program offers up to seven-year power contracts to businesses. Half of the power is from NYPA’s Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric power plants. The remaining is economical power secured by NYPA from market sources.
Locally, Kerry Biofunctional Ingredients of Norwich will receive 560 kilowatts through the program. Through the contract, the company pledged to retain 112 jobs and leverage $6 million in capital investments. Water bottling plant New York Spring Water Inc. in Halcott Center, just over the Delaware County border into Greene County, will receive 60 kilowatts, retaining 15 jobs and leveraging $1.5 million in capital investments.