ALBANY, N.Y. - Governor Andrew Cuomo announced Monday that 38 businesses across the state will create an estimated 3,200 jobs as a result of low-cost power allocated through the third round of the ReCharge NY power program.
The ReCharge NY program was created in 2011 and is designed to spur economic development in all corners of the state by providing low-cost power to businesses and other entities that agree to create or retain jobs.
The power allocations announced Monday by Governor Cuomo were approved by the New York Power Authority (NYPA) Board of Trustees, and are the first allocations from the ReCharge NY program to be tied directly to job creation.
The first two rounds of ReCharge NY provided low-cost power allotments to more than 600 businesses and 76 not-for-profit organizations, helping retain nearly 385,000 jobs.
One major business that benefits locally is GlobalFoundries in Malta, expected to create 450 new jobs.