NYPA Powering Jobs and Stimulating Economic Growth Throughout New York
The New York Power Authority (NYPA) is well known for its hydropower assets and the electricity they produce, but it is also one of New York’s most dynamic economic development engines.
By leveraging low-cost power allocations for associated job and capital investment commitments, the Power Authority has catalyzed $55 billion in spending and directly supports nearly 450,000 jobs throughout New York State.
Included among the awards is a nearly 4.2-megawatt low-cost Niagara hydropower allocation to Upstate Niagara that will support New York dairy farms and create 125 jobs. Upstate Niagara—a dairy cooperative comprised of approximately 260 dairy farms located in New York State—will build a $215 million, 165,000-square-foot expansion at its West Seneca facility to increase its manufacturing and storage capacity. The new space will help the cooperative meet its growing demand and streamline its yogurt and cottage cheese production processes. The expansion will lead to the creation of 125 jobs at the site, and the ensuing increase in production volume is expected to grow the number of dairy farm workers throughout the state.
New York Power Authority Chairman and Western New York resident John R. Koelmel said, “The low-cost hydropower allocation to Upstate Niagara will create 125 jobs and bolster New York’s dairy industry, which is the cornerstone of our state’s agricultural economy. The impact of Niagara hydropower allocations extends far beyond the immediate beneficiaries, supporting vital sectors and strengthening communities across the region.”
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.
Additionally, the NYPA board approved nearly $12 million in Power Proceeds funding that will be directed to four organizations—three in Western New York and one in Northern New York:
Shea’s Performing Arts Center was awarded $7.5 million in Western New York Power Proceeds funding—the largest single award approved under the program—to support an ongoing $30 million renovation and restoration project at Shea’s Buffalo Theatre. The project is a 24,000-square-foot vertical expansion that will address essential accessibility and capacity issues, supporting increased attendance.
More than $2.3 million in Western New York Power Proceeds funding will support the Ralph C. Wilson Park Conservancy’s project with the City of Buffalo to redevelop Ralph Wilson Park, formerly known as LaSalle Park. The NYPA funds will support the construction of a $11.6 million, 10,000-square-foot multi-use space that will augment the $200 million redevelopment of the park. The new structure will include offices, storage spaces, public restrooms, and a maintenance facility. The new space will serve as a base for the conservancy’s operations, maintenance, security, administration and programming teams and feature a comfort station for park visitors.
The Buffalo Society of Natural Sciences, a non-profit organization that operates the Buffalo Museum of Science located at Martin Luther King Jr. Park was awarded $562,000 in Power Proceeds funding to support a new, $2.8 million exhibit focused on the science of sport. The interactive exhibit will explore wellness, physics and psychology as they relate to various sports. The Buffalo Bills, Buffalo Sabres and Buffalo Bandits are partnering with the museum on the project that aims to highlight STEM applications in sports industries.
$1.5 million in Northern New York Power Proceeds funding was also awarded to the Vecino Group New York, a firm leading the Midtown Plaza redevelopment in downtown Canton. The funds will support a $7.5 million project to develop the Innovation Center, an entrepreneur accelerator that will be located on the first floor of the redeveloped plaza. The center will provide emerging entrepreneurs with end-to-end support to launch and grow new ventures in St. Lawrence County. The Innovation Center is expected to create 150 new jobs and grow the region’s gross domestic product by close to $7 million within five years. The NYPA funding will offset costs for machinery, equipment, furniture and fixtures, among other items.
NYPA Trustee and North Country Resident Cecily L. Morris said, “The development of the Innovation Center in Canton, supported by $1.5 million in NYPA Power Proceeds funding, is an important project that will drive economic growth and job creation in the North Country. Facilities like this are vital for fostering innovation, supporting entrepreneurs, and ensuring that our region remains competitive in New York’s dynamic economy.”
The NYPA funding awards are made possible through the Western New York and North New York Power Proceeds Funds, comprised of net earnings resulting from the sale of unused hydropower generated at the Power Authority’s Niagara Power Project and St. Lawrence-FDR Power Project and stem from power proceeds legislation signed into law in 2012 and 2014, respectively.