Three Oswego County companies will receive low-cost power through the state’s ReCharge NY program.
Nearly 33 megawatts (MW) of low-cost power will be distributed among 47 enterprises at 53 facilities and are expected to leverage an estimated $1 billion in capital investments. Nearly 17,000 jobs are being supported by this round of allocations.
The local companies are:
** Northland Filter International, Oswego, 76 kilowatts, job retention commitment of 29; job creation commitment of 25, capital investment of $850,000.
** Pathfinder Industries, Fulton, 36 kilowatts, job retention commitment of 22; job creation commitment of 0; capital investment of $100,000
** Southern Graphics Systems, Phoenix, 190 kilowatts, job retention commitment of 26; job creation commitment of 6, capital investment of $2.4 million.
“ReCharge NY has been creating and retaining thousands of jobs for New Yorkers since power began flowing under the program in July 2012,” Gov. Andrew Cuomo said. “ReCharge NY continues to deliver affordable power to businesses and non-profits, providing a critical resource and the flexibility needed for them to keep growing and investing in their communities. With this latest round of power allocations, we are supporting nearly 17,000 jobs across the state and fueling companies to grow our economy.”
This is the seventh round of power allocations under the RNY program, which stems from legislation signed by Cuomo in 2011. The program, administered by New York Power Authority, is designed to spur economic development throughout the state by providing low-cost power to businesses and other entities that agree to create or retain jobs.
Including today’s allocations, the power program has provided about 735 MW to 533 businesses and 70 nonprofits during the last two years. (One megawatt is enough power to meet the needs of 800 to 1,000 typical homes.)
In addition to jobs and capital investment commitments, other evaluation criteria for ReCharge NY applications include the significance of the cost of electricity to the overall cost of doing business, the applicant’s risk of closure or curtailing operations, the significance of the applicant’s facility to the local economy, and its commitment to energy efficiency.
The ReCharge NY program offers up to seven-year power contracts to businesses. Half of the power under the program — 455 MW — is from NYPA’s Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric power plants, which provide some of the lowest-cost electricity in the state. The remaining 455 MW is economical power secured by NYPA from market sources.