WHITE PLAINS – February 3, 2016 – (RealEstateRama) — Mill Services, a wood finishing manufacturer in Cobleskill, has completed an expansion project that will create 10 new jobs at the facility. The firm will receive 176 kilowatts of low-cost electricity from the New York Power Authority through Governor Andrew M. Cuomo’s ReCharge NY program in exchange for its commitment to support more than 70 jobs.
Mill Services is the largest producer of Eastern White Pine finger joint board in the Northeast and it was established in Cobleskill in 1993. The Schoharie County firm has just completed a more than $1 million expansion project that is expected to more than double production. The company was awarded the ReCharge NY expansion power in September 2012 and has just completed its expansion.
“ReCharge NY is having a big impact on New York’s economy, growing small businesses all across the state,” said Gil C. Quiniones, NYPA president and CEO. “Low-cost electricity provides firms with immediate, bottom-line support, enabling them to utilize revenues to invest inward, creating more jobs.”
Mill Services already receives 176 kW of ReCharge NY power, which was awarded in April 2012 for its commitment to retain its more than 60 employees and invest $2.5 million.
“Our decision to stay and grow in New York was greatly influenced by state incentives like the ReCharge NY program,” said Jamie Place, owner of Mill Services. “We’ve been a part of the program for years, but having just completed this major expansion project, we’re looking forward to additional savings.”
Governor Cuomo launched ReCharge NY in 2011 to help businesses and not-for-profit organizations lower their operating costs and spur economic development. The program offers up to seven-year contracts for lower-cost power. Half of the power under the program—455 megawatts—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 bought by NYPA on the wholesale market.
The Governor’s program has provided more than 780 MW to more than 740 applicants over the last four years, supporting roughly 400,000 jobs. (One megawatt is enough power to meet the needs of 800 to 1,000 typical homes.)
NYPA recently issued a report on the progress of the RNY program, as required by legislation signed into law by Governor Cuomo in 2011. To view the full report, go to http://www.nypa.gov/RechargeNY/ReChargeNYEff_2016.pdf
About NYPA:
NYPA is the nation’s largest state public power organization, through the operation of its 16 generating facilities and more than 1,400 circuit-miles of transmission lines. NYPA uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. More than 70 percent of the electricity NYPA produces is clean renewable hydropower. For more information visit http://www.nypa.gov/ and follow us on Twitter @NYPAenergy, Facebook, Instagram, WordPress, and LinkedIn.
Contact:
Paul DeMichele | paul.demichele (at) nypa (dot) gov | (914) 390-8186
