NYPA economic development awards set to spur more than $127 million in private capital investments
Gov. Kathy Hochul announced that the New York Power Authority has approved economic development awards expected to generate more than $127 million in private investment and support over 4,200 jobs statewide, including 158 newly created. The awards include low-cost power allocations through ReCharge NY and Western New York hydropower programs, as well as more than $1.6 million in funding for regional projects.
Major allocations include 4.3 MW of low-cost power to General Motors for a $40 million investment in Rochester, and hydropower awards to U.S. Sugar and Agri-Plastics to support expansion projects creating new jobs in disadvantaged communities. Additional funding will help Balthasar Industries and Professional Plastics grow their advanced manufacturing operations in Western New York. State leaders emphasized the role of these investments in strengthening New York’s clean-energy economy, semiconductor supply chain, and regional manufacturing sector.
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