Governor Kathy Hochul has announced a new round of economic development awards from the New York Power Authority (NYPA) designed to stimulate more than $104 million in private capital investment and support approximately 287 jobs across Western New York and the North Country. The initiative includes low-cost hydropower allocations and regional funding programs aimed at strengthening local industries while promoting clean energy-based economic growth.
The awards will support a range of business expansions and infrastructure projects, including manufacturing and logistics facilities that are expected to create new employment opportunities and retain existing jobs in key regions of the state. In Western New York, several companies received hydropower allocations to expand production capacity, modernize facilities, and meet growing demand in food processing, manufacturing, and cold storage industries.
In addition to hydropower allocations, NYPA approved funding through its Power Proceeds programs to support community and infrastructure projects. These investments include upgrades to agricultural operations, historic preservation and community facilities, and industrial expansions aimed at improving productivity and regional economic resilience.
In the North Country, funding will support companies in the dairy and paper manufacturing sectors, helping retain jobs and stabilize essential industrial operations. These investments are intended to improve infrastructure, upgrade equipment, and ensure long-term sustainability of local employers that are critical to rural economies.
State officials emphasized that NYPA’s economic development programs play a key role in leveraging New York’s clean energy resources, particularly low-cost hydropower, to attract private investment and support job creation. By linking energy policy with economic development, the state aims to strengthen regional competitiveness while supporting long-term industrial growth.
Overall, the initiative reflects New York’s broader strategy of using clean energy assets to drive economic development, retain manufacturing jobs, and encourage business expansion in both urban and rural communities across the state.
