Governor Hochul Announces Economic Development Awards Spurring More Than $200 Million in Capital Investments and Supporting Nearly 1,670 Jobs

Governor Kathy Hochul today announced economic development awards to 22 firms that will spur more than $200 million in capital investments and support 1,664 jobs throughout the state. The awards, approved by the New York Power Authority (NYPA) Board of Trustees, included statewide ReCharge NY power allocations and funding awards totaling more than $3 million to three firms in Western New York and one firm in the North Country.

"These economic development awards stimulate New York's economy by supporting existing businesses and attracting new ones," Governor Hochul said. "By leveraging low-cost, renewable hydropower, we are creating a resilient, green economy powered by clean energy."

ReCharge NY

The approved allocations of more than 3.7 megawatts (MW) of low-cost power under the ReCharge NY program will be directed to 15 companies in the Finger Lakes, North Country, Western New York, Hudson Valley, New York City, and on Long Island.

Included among the awards are hydropower allocations to Bakery Process Solutions on Long Island, Vigneri Chocolate in the Finger Lakes, and Polymer Medical in Western New York.

New York Power Authority President and CEO Justin E. Driscoll said, "By providing low-cost power to businesses and non-profits, the ReCharge NY program is strengthening our state's economic resilience by fostering growth and incentivizing job creation. The ReCharge NY awards approved at today's meeting will support hundreds of jobs and spur millions of dollars in capital investments, helping to secure a brighter future for communities across New York."

ReCharge NY has strengthened New York State's economy by encouraging companies to retain and create jobs, while sparking capital investment throughout the state. ReCharge NY offers power contracts with terms up to seven years. Half of the power-455 MW-is from NYPA's Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric power plants. The remaining 455 MW is lower-cost power bought by NYPA on the wholesale market.

A full list of today's ReCharge NY power allocations and economic development awards is available here.

Western New York Hydropower

At today's meeting, the NYPA Board of Trustees approved low-cost Niagara hydropower allocations to Dimensional Energy and Buffalo Tungsten in Western New York.

New York Power Authority Chairman and Buffalo Resident John R. Koelmel said, "Low-cost Niagara hydropower is among New York's greatest drivers of economic development and is attracting international firms to make Western New York their home. Dimensional Energy's expansion into Western New York will lead to the creation of 30 jobs in Niagara Falls and bolster's New York's clean energy economy."

Dimensional Energy, a sustainable fuel and wax producer, was awarded 10 MW of low-cost Niagara hydropower by the NYPA board to support the firm's $80 million expansion project. Dimensional Energy will construct and equip a new 900,000 square-foot facility in Niagara Falls that will convert carbon dioxide into renewable diesel fuel and paraffinic wax, creating 30 jobs. The company's project meets the qualifying criteria as a green jobs company in New York State and was also considered under the Power Authority's Diversity, Equity, and Inclusion evaluation plan.

Additionally, the NYPA board approved 16 MW of High Load Factor power that NYPA will procure for Dimensional Energy on the energy market.

The NYPA trustees also approved a 1,370-kW Niagara hydropower allocation to Buffalo Tungsten at its Depew facility for a more than $17 million expansion project. The firm is expanding its tungsten powder manufacturing capacity, creating 17 jobs. Tungsten powder is a key component in the production of a variety of products such as medical equipment and semiconductors.

Low-cost Niagara hydropower is available for companies within a 30-mile radius of the Power Authority's Niagara Power Project or businesses in Chautauqua County.

Western New York Power Proceeds

At today's meeting, the NYPA board approved three awards totaling more than $1.9 million in funding from the Western New York Power Proceeds Fund to Richardson Architecture Center, Tecmotiv Holdings, and the Jewish Federation of Greater Buffalo.

Richardson Architecture Center, a non-profit tourism agency that showcases Buffalo's architecture and city planning, was awarded nearly $1.7 million of power proceeds funding to support a $21 million expansion project. The organization, located in the Richardson Olmsted Campus in Buffalo, is developing a permanent architectural gallery, events space, and visitors center by rehabilitating a building on site. Richardson is seeking funds to support the construction of interior walls, finishes and permanent fixtures as well as the installation of electrical, plumbing, and HVAC equipment. The funding award will also support the construction of a new addition to house exhibits and host events.

The NYPA board also approved a $150,000 funding award to Tecmotiv Holdings, a firm that manufactures, rebuilds, repairs, and modifies several types of combat and combat support vehicles from its facilities in the United States and Canada. Tecmotiv's Niagara Falls facility requires essential improvements that total nearly $1.3 million, including roof and interior repairs, HVAC system upgrades, painting, and mold remediation. The NYPA funding award will support Tecmotiv as it endeavors to continue its operations and retain its workforce of 45 employees.

In addition, the NYPA trustees approved a nearly $74,000 funding award to the Jewish Federation of Greater Buffalo. The non-profit is seeking funds to support the renovation and conversion of an existing art deco chapel in the Ahavas Achim Jewish Cemetery in Cheektowaga into a visitor center that will serve as a central hub for the thousands who visit Jewish cemeteries. The structure, constructed in 1925, has been abandoned since the 1960s. The organization's $400,000 project will fix the chapel's foundation, upgrade its electrical infrastructure, improve its interior and exterior façade and add restrooms.

NYPA Western New York funding awards are made possible through net earnings resulting from the sale of unused hydropower generated at the Power Authority's Niagara Power Project and stems from power proceeds legislation signed into law in 2012.

Northern New York Power Proceeds

The NYPA Board of Trustees today approved a $1.2 million funding award from the Northern New York Power Proceeds Fund to Natural Insulation Products America (NIPI).

NIPI produces the world's only fabric made entirely of down-the layer of fine feathers found under tougher exterior feathers of geese and ducks. NIPI plans to invest $6 million to establish commercial-scale production of the fabric at its new headquarters in the St. Lawrence Industrial Complex in Massena, marking the company's first expansion outside of Italy. The firm's expansion will create 45 jobs in the region.

Industrial Economic Development Program

Also at today's meeting, the NYPA Board of Trustees approved a 2,550-kilowatt low-cost hydropower allocation to the Village of Bergen in Genesee County in New York's Finger Lakes region under the Power Authority's Industrial Economic Development program.

Oxbo, an international company specializing in the production of high-tech farming equipment, will construct a new facility in the Village of Bergen and outfit it with machinery and production equipment. Oxbo is closing its current facility in Byron, but due to the hydropower award from the Power Authority, it will be relocating locally in Bergen, retaining its 150 jobs and creating 60 jobs. The hydropower allocation approved at today's board meeting will support the firm's relocation, spurring $55 million in regional capital investments.

The Industrial Economic Development Program is comprised of 54 MW of the more than 768 MW of hydropower allocated to the 51 municipal and rural electric cooperative systems around New York State. Power under the program is allocated to individual municipal systems to meet the increased electric load resulting from eligible new or expanding businesses in their service area.

State Senator Kevin Parker said, "These economic development awards enable businesses to reinvest in their operations and keep New Yorkers working. The power allocations through ReCharge NY are advancing economic growth and job creation across the state."

State Senator Robert Ortt said, "Businesses in Niagara Falls continue to expand thanks to our ability to provide job creators the unique opportunity to access low-cost, reliable power, which has proved to be invaluable for their growth. Because of our location and access to a substantial natural energy source, 75 jobs will be created and more than $80 million in investments will be made in our community. We continue to send a clear message - Niagara Falls is open for business."

State Senator Patrick Gallivan said, "NYPA's support combined with Buffalo Tungsten's investment is good news for residents and the local economy. Low-cost hydropower and a dedicated workforce make our region more attractive, encouraging businesses to maintain existing jobs and create new ones."

State Senator Sean Ryan said, "ReCharge NY is a smart and innovative program that has boosted our economy and expanded the use of clean low-cost hydropower for businesses and organizations across our state. This latest round of awards will invest in cultural institutions and support business growth and job creation in Western New York and the North Country. It's great news as we continue to move New York's economy forward."

State Senator Dan Stec said, "Creating good-paying jobs and improving our energy infrastructure is vital. This support announced today by NYPA for the Trudeau Institute and Natural Insulation Products America is crucial in accomplishing both of those goals and will make a positive impact on the quality of life in our region."

Assemblymember Didi Barrett said, "Today's announcement of economic development power allocations and funding will create good-paying jobs and support small businesses across the state. These awards, which includes a ReCharge NY power allocation for a women-owned company in my own assembly district, shows the state's commitment to giving our residents and businesses the resources to be a part of our energy transition. I thank Governor Hochul and the New York Power Authority for their leadership."

Assemblymember Angelo Morinello said, "I'd like to thank Governor Hochul and NYPA for continuing to invest in our local economy. Recharge NY is not only providing low-cost power to businesses and non-profits, it's spurring economic growth in our communities for years to come. I am particularly excited that Dimensional Energy and Tecmotiv Holdings were two recipients of the power allocations, located right here in Niagara Falls. This will create and sustain jobs for residents in our community."

Assemblymember Monica P. Wallace said, "The New York Power Authority ReCharge NY power allocations and awards ensure that our region continues to benefit from our greatest natural resource - the mighty Niagara River. The power allocation and awards approved today will create new jobs in our community, support critical technology like medical equipment and semiconductors, and help to preserve and promote the historic Ahavas Achim Jewish Cemetery in Cheektowaga. I thank Governor Hochul and the NYPA Board of Trustees for using our hydropower and power proceeds to create jobs and preserve the culture of our community."

Assemblymember Jonathan D. Rivera said, "The adaptive reuse of the Richardson Olmsted Campus represents one of our city's greatest preservation victories. Its remarkable design by H.H. Richardson adds to Buffalo's long list of architectural treasures, and the New York Power Authority's approval of nearly $1.7 million in funding from the Western New York Power Proceeds Fund will support the Campus' expansion project that will greatly enhance its ability to provide a world-class visitor experience and event space. I thank Governor Hochul and NYPA for their continued commitment to Western New York's economic development and for recognizing the unlimited potential of the Richardson Olmsted Campus as a regional destination. I am excited to see how this crucial funding will assist the Campus' ambitious vision for growth and expansion."

Assemblymember Scott Gray said, "I am pleased with the announcement that Natural Insulation Products America (NIPI) will establish commercial-scale production in Massena, bringing 45 new jobs and a $6 million investment to our region. This is made possible by the $1.2 million funding award from the Northern New York Power Proceeds Fund, approved by the NYPA Board of Trustees. I want to thank Governor Hochul for her unwavering support and commitment to economic development in Northern New York. Her leadership is vital in driving growth and creating opportunities for our community."

Assemblymember Billy Jones said, "Congratulations to Trudeau Institute! I am proud to support the Trudeau Institute and am pleased with this important investment. For 140 years, the Trudeau Institute has been at the forefront of research in infection diseases and the power allocation from the New York Power Authority will help them retain 65 jobs and continue their important work for decades to come."

New York State's Nation-Leading Climate Plan

New York State's climate agenda calls for an orderly and just transition that creates family-sustaining jobs, continues to foster a green economy across all sectors and ensures that at least 35 percent, with a goal of 40 percent, of the benefits of clean energy investments are directed to disadvantaged communities. Guided by some of the nation's most aggressive climate and clean energy initiatives, New York is advancing a suite of efforts - including the New York Cap-and-Invest program (NYCI) and other complementary policies - to reduce greenhouse gas emissions 40 percent by 2030 and 85 percent by 2050 from 1990 levels. New York is also on a path to achieving a zero-emission electricity sector by 2040, including 70 percent renewable energy generation by 2030, and economy-wide carbon neutrality by mid-century. A cornerstone of this transition is New York's unprecedented clean energy investments, including more than $28 billion in 61 large-scale renewable and transmission projects across the State, $6.8 billion to reduce building emissions, $3.3 billion to scale up solar, nearly $3 billion for clean transportation initiatives and 130 certified Climate Smart Communities, over 500 Clean Energy Communities, and the State's largest community air monitoring initiative in 10 disadvantaged communities across the State to help target air pollution and combat climate change.

About NYPA

NYPA is the largest state public power organization in the nation, operating 17 generating facilities and more than 1,550 circuit-miles of transmission lines. More than 80 percent of the electricity NYPA produces is clean renewable hydropower. NYPA finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. For more information visit www.nypa.gov and follow us on  X, Facebook, Instagram, Tumblr and LinkedIn.

Contact the Governor's Press Office