NYPA Board of Trustees Approve Economic Development Awards Spurring More Than $35 Million In Capital Investments In Western New York

NYPA Board of Trustees Approve Economic Development Awards Spurring More Than $35 Million In Capital Investments In Western New York

For Immediate Release:10/09/24

Contact: [email protected]| (518) 860-9935

NYPA Board of Trustees Approve Economic Development Awards

Spurring More Than $35 Million In Capital Investments In

Western New York

NYPA Awards Support New Sustainable Fuel Facility in Medina and

Expansion of Workforce Training Program in Buffalo

WHITE PLAINS-The New York Power Authority (NYPA) Board of Trustees yesterday approved economic development awards that will spur more than $35 million in capital investments and support the creation of 17 jobs in Western New York. The awards include a low-cost Niagara hydropower allocation to Air Company Holdings in Orleans County and a $830,000 funding award to Per Scholas in Buffalo.

John R. Koelmel, New York Power Authority Chairman and Western New York resident said,"Low-cost power from the Niagara Power Project is among the greatest drivers of economic growth in Western New York and is linked to tens of thousands of local jobs. The approved hydropower allocation to Air Company will stimulate more than $30 million in economic activity in Orleans County and will be critical to the firm as it expands its efforts to produce sustainable aviation fuels."

Air Company is a New York-based firm that specializes in developing sustainable fuels and chemicals. The firm was awarded a 3-megawatt (MW) low-cost Niagara hydropower allocation by the NYPA board to support its new 218,000-square-foot facility in Medina. At the site, the firm will produce sustainable aviation fuel and by-products, including renewable diesels and alcohols. The firm will invest $20 million at its Medina facility to construct a demonstration unit for its sustainable aviation fuels, in addition to another $5 million for machinery and equipment purchases. Air Company will also expend $5 million to construct a new building that will house auxiliary equipment and a control room. Air Company's expansion will lead to the creation of 17 jobs in the region.

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.

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.

Additionally, the NYPA board approved 6.9 MW of High Load Factor power that NYPA will procure for Air Company on the energy market.

At yesterday's meeting, the NYPA board also approved a $830,000 funding award to Per Scholas, a nonprofit that provides tuition-free technology training to adults for careers as information technology professionals.

Justin E. Driscoll,NYPA president and CEOsaid, "NYPA is proud to support Per Scholas' Buffalo expansion, which will help develop a pipeline of skilled IT workers for Western New York's tech firms.The funding approved by the NYPA board will support Per Scholas' efforts to prepare more than 700 people over the next five years from under-resourced communities for IT careers and is another example of actions we are taking at the Power Authority to bolster the state's workforce development efforts."

Per Scholas was awarded $830,000 of power proceeds funding to support its nearly $6 million expansion. The organization will establish a location on Exchange Street in Buffalo, in addition to other satellite locations throughout Western New York. Per Scholas will offer students a 12-week entry level course that will provide graduates with professional IT Support certificates. Graduates of the 12-week program will be offered the opportunity to take additional courses related to topics including cybersecurity and software engineering. The organization also engages its students with mock interviews, individual career planning and resume writing in partnership with sector partners.

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.

Hope Knight, Empire State Development president, CEO and commissioner said,"New York State is committed to advancing the Buffalo communities that have faced historical economic disinvestment, and Per Scholas' training programs provide one way to do so. Made possible in part through a grant from the New York State Office of Strategic Workforce Development, Per Scholas Buffalo's landmark campus is the first campus in New York State outside the New York City metropolitan area. It provides immediate opportunities for access to thriving tech careers, strengthening the community in a tangible way, and will create a brighter future for all."

New York State Assembly Majority Leader Crystal Peoples-Stokes said, "I am proud to see NYPA's sizeable investment into Per Scholas, with the goal to offer free training and career service support to under-served Buffalo residents for IT career paths. Education and technology can be the great equalizers, depending on how you wield them."

New York State Senator Robert G. Ortt said, "As the costs of operation across our state continue to increase, the ability to provide low-cost power to a business can be the difference between expansion and reduction. By identifying Air Company as a beneficiary of Western New York's Hydropower, NYPA will be helping spur over $30 million in economic development for not only Medina but for the entire county while also helping to create new opportunities for the local workforce. This allocation is a welcome investment."

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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.govand follow us on Twitter, Facebook, Instagram, Tumblrand LinkedIn.

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