Governor Hochul Announces New York Power Authority Economic Development Awards That Will Spur More Than $104 Million in Private Capital Investments

Awards To Ensure Over 280 Jobs Stay in Western New York and the North Country

Governor Kathy Hochul today announced economic development awards from the New York Power Authority (NYPA) that will spur more than $104 million in capital investment and support 287 jobs in Western New York and the North Country. The awards, approved today by the NYPA Board of Trustees, include low-cost power allocations through the regional Western New York Hydropower program. Additionally, the NYPA board approved funding awards totaling more than $10 million under the Western New York and Northern New York Power Proceeds programs.

"Affordable, reliable and emission free hydropower is one of New York's greatest economic assets," Governor Hochul said. "Through NYPA, New York is leveraging low-cost hydropower to incentivize major capital investments and deliver well-paying jobs for New Yorkers. The awards approved today by the NYPA board will support more than $104 million in new investments and support hundreds of jobs, strengthening New York's clean energy economy."

New York Power Authority President and CEO Justin E. Driscoll said, "NYPA low-cost hydropower allocations and targeted funding awards remain a key driver of regional economic development. The awards approved today by the NYPA board will help businesses expand, retain jobs and invest in their future while supporting the long-term vitality of communities across Western New York and the North Country."

Read the full press release here.