Governor Kathy Hochul and the New York Power Authority announced Board-approved economic development awards that the agencies say will drive nearly $89 million in capital investments across Western and Northern New York.
Western New York awards
At its meeting, the NYPA Board approved a low-cost allocation of 210 kilowatts of Niagara hydropower to Sigma Advanced Materials in Cheektowaga to support a $238,000 expansion of the company’s processing capabilities, including machinery and equipment upgrades. Sigma is an existing NYPA customer that previously received a 20 kW allocation through NYPA’s ReCharge NY program.
Separately, NYPA approved nearly $6.2 million in Western New York Power Proceeds funding split among three projects:
- Candlelight Curated (Lockport) — $1,000,000 to support a $4.25 million rehabilitation and modernization of a 200,000-square-foot industrial facility; the company expects the project to restore about 70 jobs.
- Jacobs Institute (Buffalo Niagara Medical Campus) — $658,503 to modernize and expand facilities, increase clinical training capacity and advance commercialization of medical technologies.
- Niagara Power Transformer (Cheektowaga) — $4,500,000 to support the Niagara Power 50 Initiative, a plan the company says will expand its manufacturing campus by 96,000 square feet as part of a more than $71 million investment; NYPA funding is intended to support retention of 146 jobs and creation of 73 new full-time permanent jobs.
Northern New York award
NYPA approved $1.8 million in Northern New York Power Proceeds funding for Corning Incorporated to convert an existing warehouse into a ceramic manufacturing facility. NYPA states the project will support retention of 344 jobs and creation of five new jobs.
Funding source and officials
The NYPA said the awards were made possible through the Western New York and Northern New York Power Proceeds Funds, which draw from net earnings from the sale of unused hydropower generated at NYPA’s Niagara and St. Lawrence-FDR projects. The release quoted Governor Kathy Hochul, NYPA leadership and local officials who highlighted the awards’ job and investment impacts.
NYPA and Empire State Development previously provided related incentives to many of the recipients, according to the announcement.
This account is based on a NYPA/Governor’s Office press release announcing the Board of Trustees approvals and the named awards.
