Recharge New York
S.3164 (Maziarz) / A.5021 (Cahill) / Executive Budget Article VII
MEMORANDUM IN SUPPORT
The Buffalo Niagara Manufacturing Alliance (BNMA), the largest non-profit organization representing manufacturers in the Buffalo Niagara region, overwhelmingly supports S.3164, which would establish Recharge New York, an economic development and job creation energy incentive plan. This sweeping proposal has the potential to retain and create thousands of jobs and increase state and local revenues by boosting economic activity in numerous economic development sectors.
The BNMA advocates for the state to create a permanent, long term power program to extend or replace the current Power for Jobs program. Recharge New York, which is included in Governor Cuomo’s Executive Budget, addresses many of the needs and concerns reluctant consumers have expressed during the six years of annual Power for Jobs extensions.
Recharge New York will provide predictable and stable power supplies with long term contracts (up to seven years) and will provide new selection criteria and tools to encourage energy efficient investments in facilities that participate in the program. These measures will ensure that businesses can invest in their plants with the confidence that this program will continue to be available, and ensure that power will be provided and used in an efficient and cost effective manner.
Recharge New York also includes residential rate mitigation funds to offset a redeployment of New York Power Authority hydropower from residential to economic development uses. These funds will allow the use of low-cost hydropower to create an economic development program for businesses that require increased energy at a minimal impact to rate payers over a five year period.
Governor Cuomo’s proposal also sets aside at least 350 MW for economic development in the National Grid, NYSEG and RG & E service territories. With Upstate’s distinct disadvantage in economic development incentives, these benefits have the potential to be an equalizer to offset the high cost of doing business in New York State.
The Buffalo Niagara Manufacturing Alliance supports the immediate enactment of this legislation.
