New York Governor Kathy Hochul has announced the launch of a new program called Promote Opportunity with Electric Readiness for Underdeveloped Properties (POWER UP). The initiative aims to provide grants to enhance electrical and transmission infrastructure at industrial sites across key sectors, including semiconductors, agribusiness, and clean technology. With an initial investment of $100 million from the Fiscal Year 2026 Enacted Budget, POWER UP is part of a larger $300 million commitment introduced in Hochul’s 2025 State of the State address.
The program seeks to establish an inventory of industrial sites that are both power-ready and shovel-ready. By doing so, it aims to strengthen New York’s position as a leader in reshoring manufacturing operations and attracting advanced industries.
“Bringing advanced manufacturing businesses that will create good-paying jobs in New York State has been a pillar of my administration, and that requires a proactive strategy that adapts to meet the needs of modern employers,” said Governor Hochul. “As businesses grow and technologies evolve, more power capacity is needed, and POWER UP will help ensure that our sites are shovel-ready and power-ready. We’re investing in our infrastructure today to build New York’s economy of tomorrow.”
POWER UP builds on the FAST NY program, which has awarded over $283 million to support 34 industrial sites throughout Upstate New York by preparing them for development. The new initiative focuses specifically on developing electrical infrastructure at strategic locations suitable for advanced manufacturers.
Empire State Development (ESD) will oversee the administration of POWER UP with input from the Department of Public Service (DPS). ESD President, CEO and Commissioner Hope Knight stated: “As New York works to attract high-growth industries and advanced manufacturers to the state, our strategic investments are creating shovel-ready sites. The POWER UP program will complement those efforts by awarding grants to prepare sites for the increased power needs of these businesses. Under Governor Hochul’s leadership, New York continues to build for the future, and POWER UP will further advance the state’s efforts to attract these dynamic industries and generate new economic growth.”
Rory M. Christian, Chair of the Public Service Commission, added: “With utility affordability a major focus for the Commission, Governor Hochul’s innovative POWER UP program will accelerate large capital investments in energy infrastructure that are needed for new business customers without burdening utility ratepayers. We are proud to partner with ESD to make the Governor’s vision a reality.”
Applications for grant funding under POWER UP open today. Eligible applicants include industrial development agencies, local development corporations, municipalities, municipally designated economic development organizations, and utilities. Applicants must either own or control their proposed site or have written consent from its owner; qualifying properties must be at least 40 contiguous developable acres with demonstrated readiness through engineering studies and utility engagement.
A webinar providing more information about application procedures is scheduled for December 10 at 10:00 a.m., after which applications via Consolidated Funding Application will be accepted.
More details about eligibility requirements and how to apply can be found online here.
