New York officials approved a series of economic development awards expected to generate hundreds of jobs and major private investment.
The New York Power Authority board authorized funding and low-cost power allocations projected to support more than $522 million in private investment and 399 new jobs.
The approvals include more than 12 megawatts of low-cost electricity distributed to 19 companies through the ReCharge NY program across multiple regions.
Officials said those allocations are tied to more than 300 new jobs and nearly $500 million in investment.
In Western New York, 510 kilowatts of hydropower were approved for Neofab Robotics Corp. to support a $3.9 million expansion project in Niagara County, expected to create 23 jobs.
The board also approved nearly $2 million in funding for projects in Erie County, including $1.5 million for Wavepoint 3PL to redevelop a 300,000-square-foot facility, creating 55 jobs.
Another $409,906 will support rehabilitation of the Eliza Quirk House in Buffalo for community and nonprofit use.
In Northern New York, $530,000 in funding was approved for projects in St. Lawrence County, including tourism development and a waterfront office complex expected to create 10 jobs.
The awards include funding through regional power proceeds programs tied to hydropower generation.
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