Economic Development Awards $940M in Capital Investments

Governor Kathy Hochul today announced economic development awards to 20 firms that will spur more than $940 million in capital investments and support 1,774 jobs. The awards, approved by the New York Power Authority (NYPA) Board of Trustees, include statewide ReCharge NY power allocations, a Western New York hydropower allocation to Wells Enterprises in Chautauqua County, and funding awards to firms in Western New York and the North Country.

“Economic development awards from the New York Power Authority have helped revitalize communities throughout the state by attracting businesses to New York and incentivizing job growth,” Governor Hochul said. “The latest round of awards approved today by the NYPA trustees will spur more than $940 million in investments, strengthening our state’s clean energy economy.”

ReCharge NY

The approved allocations of nearly 7.2 megawatts (MW) of low-cost power under the ReCharge NY program will be directed to 17 companies in the Finger Lakes, Central New York, Mohawk Valley, Hudson Valley, Southern Tier, New York City, and on Long Island.

Included among the awards are hydropower allocations to BLI International on Long Island, IBM in the Hudson Valley, and Currier Plastics in Central New York.

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 a low-cost Niagara hydropower allocation to Wells Enterprises’ Dunkirk facility in Chautauqua County.

Wells is the largest family-owned ice cream manufacturer in the nation and is well-known for its Bomb Pops and Blue Ribbon Classics brands. Wells was awarded 1,052 kilowatts (kW) to support the construction of a new 350,000 square-foot facility at its Dunkirk site to expand its ice cream and frozen dessert manufacturing capabilities. Wells will expend $425 million to build the facility, establish an on-site chocolate manufacturing plant, create a new office building and receiving bays, and purchase raw materials for its production lines. The expansion will create 270 jobs.

New York Power Authority Chairman and Western New York resident John R. Koelmel said, “Wells Enterprises’ decision to expand its Dunkirk facility is reflective of New York State’s business-friendly environment and talented workforce. This low-cost hydropower allocation from the Niagara Power Project will support Wells as it endeavors to quadruple its regional product output, benefiting the Northeast’s dairy industry. NYPA hydropower awards are vital to Western New York’s economy, and this award will create 270 jobs for residents and spur a $425 million investment in Chautauqua County.”

Wells is a current NYPA customer receiving 4,100 kW of hydropower allocations with associated commitments of nearly 550 jobs and more than $54 million in private capital investments.

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 a $875,000 power proceeds funding award to Seibel Modern, a New York-based and family-owned steel fabrication and welding shop.

Seibel Modern is consolidating its operations into a larger, state-of-the-art facility that will improve operational efficiency and productivity to meet growing demand for its services. The new more than $14 million facility will be constructed in Lancaster in Erie County and equipped with modern machinery and technology. As part of its expansion, Seibel Modern will create 11 full-time positions.

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.

Northern NY

The Massena Arts and Theater Association was awarded $640,000 in power proceeds funding to rehabilitate and transform the historic Schine Theater in downtown Massena into a multi-use community theater, cultural and event center. The project will include the renovation of the existing theater shell, restoration of the original façade and iconic marquee, roof and masonry repairs, and a complete interior renovation that will consist of new heating, cooling, plumbing, lighting, and electrical systems. The renovation will also include demolition of the existing boiler house and chimney to create an event support space that is energy efficient with full accessibility. The total project is estimated to cost $3.2 million and is foundational to local revitalization efforts in Massena.

NYPA President and CEO Justin E. Driscoll said, “The rehabilitation of the historic Schine Theater in downtown Massena is central to the town’s revitalization efforts and will catalyze support for new and existing businesses in the community. The $640,000 NYPA funding award is critical to theater’s restoration and is a prime example of the Power Authority’s commitment to communities located near its assets.”

The funding award applies net earnings from unutilized hydropower from the St. Lawrence-FDR Power Project in Massena to St. Lawrence County businesses and institutions.

Empire State Development President, CEO & Commissioner Hope Knight said, “Governor Hochul’s comprehensive approach to grow New York’s economy is helping businesses like Wells Enterprises, BLI International, Seibel Modern and non-profits like the Massena Arts and Theater Association expand, increase their workforce, and strengthen communities. With NYPA and ESD incentives, we are taking a collaborative and strategic approach to strengthen the Empire State and these efforts are showing success.”

State Senator Patrick Gallivan said, “The funding allocation from NYPA is making it possible for Seibel Modern to expand and invest in Lancaster, creating new jobs in the process. Programs like this combined with the region’s hardworking and dedicated workforce make Western New York a more attractive place for both new and existing businesses. Congratulations to Seibel Modern on this exciting project.”

State Senator Daniel Stec said, “A vibrant arts scene helps build vibrant communities. The $640,000 to rehabilitate the Schine Theater in downtown Massena into a multi-use community theater, cultural and event center will improve the quality of life in Massena and bring a state-of-the-art facility to our region. I can’t wait to see the completed revitalization effort and the positive impact it will have for our residents.”

Assemblymember Didi Barrett said, “Capital and workforce development initiatives like these are crucial to New York State meeting our climate goals while creating good-paying jobs and building new careers. This is welcome news and I look forward to seeing these programs implemented in communities across the State.”

Assemblymember Andy Goodell said, “The additional allocation of low-cost hydropower to Wells enterprises sends a powerful message that New York supports the huge investment being made by the company in the future of Dunkirk. This is great news for both the company and the community.”

Assemblymember Scott Gray said, “Rehabilitating the historic Schine Theater is pivotal in revitalizing downtown Massena and strengthening the community. This investment preserves an important piece of local history and transforms it into a vibrant hub for arts, culture, and events. By NYPA supporting this project, they are helping create opportunities for economic growth, fostering community engagement, and enhancing the quality of life in Northern New York. I commend the Massena Arts and Theater Association for their vision and dedication to this project, I am grateful for the partnership with NYPA and I am proud to see such meaningful investment in the region.”

Mayor of Dunkirk Kate Wdowiasz said, “The City of Dunkirk welcomes NYPA's commitment to provide Wells Enterprise with affordable hydropower—a vital resource that will fuel the company's continued growth in our community. This strategic partnership represents a significant investment in Wells Enterprise, a valued corporate citizen of both Dunkirk and Chautauqua County. As we look to the future, we're excited to see more local businesses leverage this program to expand their operations and strengthen our regional economy.”

New York State's Nation-Leading Climate Plan

New York State's climate agenda calls for an affordable and just transition to a clean energy economy that creates family-sustaining jobs, promotes economic growth through green investments, and directs a minimum of 35 percent of the benefits to disadvantaged communities. New York is advancing a suite of efforts to achieve an emissions-free economy by 2050, including in the energy, buildings, transportation, and waste sectors.

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.gov  and follow us on  Twitter, Facebook, Instagram, Tumblr  and  LinkedIn.