Awards to Two Companies will Leverage $5.2 Million in Capital Investments, Create 41 New Jobs
Washington, DC – (RealEstateRama) — Governor Andrew M. Cuomo today announced that the New York Power Authority Board of Trustees has approved allocations of low-cost hydropower to manufacturers in Niagara County and St. Lawrence County. Together, the power allocations will support $5.2 million in capital investments and create 41 jobs.
“Access to low-cost hydropower helps businesses reinvest in themselves, plant deeper roots in our communities, and create jobs,” Governor Cuomo said. “This is a smart investment in the Western New York and North Country economies that will help business remain competitive, foster growth, and strengthen New York’s economy.”
The NYPA trustees approved a 200-kilowatt hydropower allocation to Mayer Bros. Apple Products in Niagara County that allows the manufacturer to expand in Somerset, creating 19 new jobs and nearly $3.2 million in capital investments.
Mayer Bros., a manufacturer of bottled beverages, including apple cider, fruit juices, water and other related beverage products, will be constructing a 40,000-square-foot building adjacent to its existing facility. The project will add a second beverage production line to meet new customer needs.
The firm anticipates that the new facility will be operational by late-summer.
“The Niagara Power Project is a cornerstone for economic development in Western New York and Mayer Bros.’ decision to expand in Somerset is proof of that,” said John R. Koelmel, NYPA Chairman. “Low-cost hydropower reduces bottom-line costs for energy customers, allowing them to focus on reinvestment into their products, facilities and workers.”
The NYPA trustees also approved a 400-kilowatt hydropower allocation to Potsdam Specialty Papers Inc. (PSPI) in St. Lawrence County that will allow the manufacturer to begin an expansion project at its Potsdam facility, creating 22 new jobs and $2 million in capital investments.
The expansion includes the installation of a new production line, which will allow PSPI to enhance production capacity and efficiency and create new products. The firm specializes in latex saturation of base papers that are used in several different products in the building and construction, automotive, home décor and medical industries. Its primary product is a specialized masking tape.
The expansion is expected to be completed this spring.
In addition to this latest hydropower award, PSPI also receives a power allocation from the Governor’s ReCharge NY program for the retention of 67 jobs. ReCharge NY is a statewide power program 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.
“This commitment from PSPI to expand its operation in St. Lawrence County is great news for the region,” said Eugene L. Nicandri, NYPA trustee and Massena resident. “NYPA is dedicated to energizing the North Country’s economy by leveraging low-cost hydropower from the St. Lawrence-FDR power project for businesses in the region.”
The hydropower allocations are provided to the manufacturers under seven-year contracts and drawn from blocks of power from the Power Authority’s Niagara Power Project and the St. Lawrence-Franklin D. Roosevelt Power Project.
“NYPA’s hydroelectric plants in Niagara and St. Lawrence act as significant economic development engines for Western New York and the North Country,” said Gil C. Quiniones, NYPA president and CEO. “These low-cost hydropower allocations offer big boosts for manufacturers that are looking to expand and grow in these regions.”
Low-cost Niagara hydropower is reserved for companies within a 30-mile radius of the Niagara power plant or for businesses in Chautauqua County. Low-cost allocations of hydropower to Northern New York businesses from the St. Lawrence facility are for firms in Franklin, Jefferson and St. Lawrence counties. The hydropower allocations are already linked to thousands of jobs in those regions.
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