Nine local businesses will receive low-cost power allocations worth more than $40 million through the state's ReCharge New York program, according to a recent media release from the governor's office.
Gov. Andrew M. Cuomo announced Thursday that an additional 161 businesses and nonprofit organizations across the state have been awarded more than 80 megawatts of low-cost power in the second round of allocations under the program.
According to the release, the allocations are expected to retain about 25,000 jobs.
Local recipients, and the capital investment for each, are as follows:
"¢ Burt Rigid Box Inc. of Oneonta: $1.6 million
"¢ Custom Electronics Inc. of Oneonta: $150,000
"¢ The Harva Company Inc. of Schoharie: $1.06 million
"¢ W. Kintz Plastics Inc. of Schoharie: $1.25 million
"¢ Audiosears Corp. of Stamford: $500,000
"¢ Kraft Foods Global Inc. of Walton: $16.5 million
"¢ MeadWestvaco of Sidney: $18 million
"¢ Mold-A-Matic Corp. of Oneonta: $250,000
"¢ Norwich Aero Products Inc. of Norwich: $3.4 million
"These power allocations through the ReCharge New York program will provide competitive and reliable energy prices to manufacturers and other key employers, giving them the confidence to invest in their facilities and maintain and increase employment," Cuomo said in the release. "We will continue our aggressive efforts to capitalize on our low-cost power and other economic incentives to attract new businesses to New York and encourage expansion and growth in our state's existing enterprises."
Those allocations, approved the New York Power Authority Board of Trustees last week, bring the total support provided by Recharge New York to 602 businesses and 76 nonprofits. The low-cost power tied to the ReCharge New York program was made available to recipients starting Sunday.
Sen. James L. Seward, R-Milford, praised the announcement, saying, "When I helped establish New York's original low-cost power plan, Power for Jobs, the goal was simple _ help businesses afford to operate and grow in the Empire State. Recharge New York builds on that objective and is an important piece of an overall plan to lower the cost of doing business, retain and create jobs and move our state forward."