NYPA Economic Development Awards Announced

Governor Kathy Hochul today announced economic development awards from the New York Power Authority (NYPA) that will spur more than $522 million in private capital investments throughout the state and support 6,364 jobs — 399 newly created. The awards, approved today by the NYPA Board of Trustees, include low-cost power allocations through the statewide ReCharge NY program and the regional Western New York Hydropower program. Additionally, the NYPA board approved funding awards totaling more than $2.4 million under the Western New York and Northern New York Power Proceeds programs.

“Reliable, affordable energy keeps the lights on for families and businesses and drives economic opportunity, turning ambitious projects into reality,” Governor Hochul said. “The New York Power Authority’s economic development awards play a key role in creating jobs and generating major capital investment in communities across New York State. The awards approved today by the NYPA board will support more than $522 million in new investments and create hundreds of jobs statewide.”

ReCharge NY

The approved allocations of more than 12 megawatts (MW) of low-cost power under the Power Authority’s ReCharge NY program will be directed to 19 firms in the Capital District, Central New York, Finger Lakes, Mid-Hudson region, Mohawk Valley, North Country, Western New York, and on Long Island. Notable ReCharge NY awards include allocations to Lauter Metal Technologies, Water Lilies Food, and Balchem Corporation.

New York Power Authority President and CEO Justin E. Driscoll said, “Access to low-cost power is an essential catalyst for economic development. Through its ReCharge NY program, NYPA is providing businesses across New York with the resources they need to thrive and expand. The ReCharge NY allocations approved today by the NYPA board directly support the creation of more than 300 jobs and will spur nearly $500 million in private investments, strengthening regional economies across the State.”

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

At today’s meeting, the NYPA Board of Trustees approved 510 kilowatts (kW) of low-cost Niagara hydropower to Neofab Robotics Corp.

The award supports the firm’s proposed $3.9 million expansion project to construct a 24,000-square-foot facility in Sanborn, Niagara County. The firm specializes in automated robotic-assisted fabrication, welding, tube and pipe processing, and precision industrial manufacturing. The expansion project is expected to boost regional manufacturing capacity for the energy, waste, food and pharmaceuticals industries and will lead to the creation of 23 jobs.

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

The NYPA board also approved Western New York Power Proceeds funding totaling nearly $2 million to Wavepoint 3PL and Preservation Buffalo Niagara in Erie County.

Wavepoint 3PL was awarded $1,500,000 in NYPA funding to support the acquisition and redevelopment of a 300,000-square-foot facility in Western New York. The firm is a key regional logistics partner for manufacturing, retail, and e-commerce clients and provides services including warehousing, inventory management, order fulfillment, and transportation solutions. The $25 million investment to modernize the facility’s infrastructure includes upgrades to the firm’s transportation and warehouse management systems that will increase operational capacity, reduce transportation costs and bolster its competitiveness and ability to contribute to regional economic development. The project will lead to the creation of 55 new jobs.

Preservation Buffalo Niagara was awarded $409,906 in NYPA funding to support its rehabilitation and adaptive reuse of the Eliza Quirk House, a pre-Civil War historic structure in Buffalo. Preservation Buffalo Niagara is a dedicated nonprofit organization focused on identifying, protecting, and promoting the historic architecture and cultural heritage of Western New York. The Eliza Quirk House was saved from demolition in 2017 and has since been designated as a local landmark and listed on the National Register of Historic Places. When completed, the building will become Preservation Buffalo Niagara’s permanent headquarters. The building will additionally serve as a central hub for tours and workshops for the surrounding community and be open as office space for other non-profits. Empire State Development (ESD) previously awarded the firm $359,000 in funding support for the project.

New York Power Authority Chairman and Western New York Resident John R. Koelmel said, “The Power Authority’s economic development awards are tied to nearly 50,000 jobs in Western New York and continue to drive major investments that strengthen the regional economy. The items approved today will advance projects that expand advanced manufacturing capabilities and restore historic community assets — delivering economic benefits that reach businesses and residents alike.”

Northern New York

$530,000 in Northern New York Power Proceeds funding was approved by the NYPA Board of Trustees today to the St. Lawrence County Chamber of Commerce and Trackside Rentals in St. Lawrence County.

The St. Lawrence County Chamber of Commerce was awarded $230,000 in NYPA funding to support a three-year strategic program that will boost local tourism and overnight stays in the region while supporting and expanding new and existing tourism business opportunities, employment, sales, and occupancy tax collections throughout the County.

Trackside Rentals, an entity formed through a partnership between three siblings raised in Canton, was awarded $300,000 in NYPA funding in support of a project to transform a 1.8-acre parcel on Canton’s waterfront into a 5,000-square-foot office complex. The project will house office spaces and lead to the creation of 10 full-time positions. The firm was previously awarded nearly $750,000 in funding support from ESD.

New York Power Authority Trustee and North Country Resident Cecily L. Morris said, “NYPA’s economic development support continues to play an essential role in strengthening communities in Northern New York. Today’s funding approvals will help expand tourism opportunities, drive business development, and create quality jobs in St. Lawrence County. These investments underscore NYPA’s ongoing commitment to fostering growth and supporting our host communities.”

The NYPA funding awards are made possible through the Western New York and Northern New York Power Proceeds Funds, comprised of net earnings resulting from the sale of unused hydropower generated at the Power Authority’s Niagara Power Project and St. Lawrence-FDR Power Project and stem from power proceeds legislation signed into law in 2012 and 2014, respectively.

Empire State Development President, CEO & Commissioner Hope Knight said, “Empire State Development’s partnership with NYPA is a win-win for New York. By pairing ESD’s strategic investments with NYPA’s regional funding and low-cost power, we are cutting the cost of doing business while supporting sustainable growth. Together, we are giving companies the tools to expand, creating good-paying jobs, and ensuring local communities share in that success.”

State Senator Robert Ortt said, “Access to low-cost and reliable hydropower along with an incredible workforce makes our region uniquely situated to attract new and expanding manufacturers and businesses. Western New York has long been a hub of advanced manufacturing, and we welcome Neofab Robotics Corp. to continue the tradition of offering great jobs, contributing to our local economy, and supplying nearby businesses with essential products.”

State Senator April Baskin said, “Today’s NYPA awards are a major win for Western New York’s economy. By pairing affordable hydropower with strategic investments, we’re helping local businesses expand, modernize, and create good-paying jobs right here at home. From advanced manufacturing in Niagara County to logistics and historic preservation projects in Buffalo, these investments strengthen our regional economy, support job growth, and position Western New York as a hub for innovation and opportunity.”

Assembly Majority Leader Crystal Peoples-Stokes said, “The New York Power Authority’s commitment to affordable, reliable energy and the stabilization of historic landmarks here is Western New York is commendable. More than ever, jobs are needed in our region to continue to strengthen our economy, and through expanding advanced manufacturing and restoring historic landmarks, NYPA is making sure these projects are getting the funding they need.”

Assemblymember Angelo Morinello said, “Today’s announcement highlights how strategic investments in affordable energy can drive real economic growth here in Western New York. I want to congratulate Neofab Robotics Corp. on their exciting expansion in Niagara County, which will strengthen our region’s manufacturing base and create new job opportunities for local residents. By supporting innovative companies like Neofab, we are ensuring that our communities remain competitive and continue to thrive. I thank Governor Hochul and the New York Power Authority for their continued commitment to investing in our region’s future.”

Assemblymember Jonathan Rivera said, “This investment by the New York Power Authority is a major win for Western New York’s economy and workforce. By supporting Wavepoint 3PL in the redevelopment of this large-scale facility, we are strengthening our region’s role as a critical hub for logistics, manufacturing, and e-commerce. This $25 million project will not only modernize infrastructure and improve efficiency, but also create good-paying jobs and expand opportunities for local workers. Strategic investments like this ensure that Erie County remains competitive and continues to grow in today’s evolving economy.”

About the New York Power Authority

The New York Power Authority 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 LinkedIn, Twitter, Facebook, Instagram, and Substack.