OLEAN — A pair of manufacturers in the region were among those to receive low-cost hydropower allocations on Wednesday.
Gov. Kathy Hochul announced that the New York Power Authority Board of Trustees approved economic development awards to 22 firms that will spur more than $20 billion in capital investments and support 8,336 jobs, including 3,930 newly created.
Cimolai-HY LLC, the steel manufacturing partnership which purchased the former Siemens Energy site in North Olean, received a power recommendation of 1.39 MW. The project aims to invest just over $50 million and create 200 jobs. The company purchased the property in 2022 just months after Siemens Energy shut down the 1 million square foot facility after over 100 years of heavy industrial production.
Alstom Transportation Inc. received a 3.11 MW recommendation for its subway car production facilities in Hornell, aiming to spend $59 million in capital investments to support 302 existing and 198 new jobs.
Other projects across the state included a Niagara hydropower allocation to Amazon, the world’s largest online retailer, and a ReCharge NY power allocation to Micron, a U.S.-based memory and storage manufacturer and the fourth-largest producer of semiconductors in the world.
“These transformative economic development awards to Amazon, Micron and other businesses across the state will create thousands of jobs and spur billions in economic activity,” Hochul said. “New York continues to secure its legacy as the most business-friendly and worker-friendly state in the nation, while advancing the aggressive goals of our nation-leading climate agenda — creating a greener, more prosperous Empire State.”
