Governor Kathy Hochul has announced that the New York Power Authority (NYPA) Board of Trustees approved economic development awards aimed at generating nearly $267 million in private capital investments. The board’s decisions include a low-cost Niagara hydropower allocation to Upstate Niagara, a dairy cooperative, which is expected to support New York dairy farms and create 125 jobs.
Governor Hochul stated, “The Power Authority’s economic development awards are a dynamic engine that stimulates growth across New York State, fueled by the availability of NYPA’s low-cost power. Through a variety of programs, the Power Authority is driving job creation, encouraging capital investments and supporting the maintenance and enhancement of important cultural institutions. The awards approved at today’s NYPA board meeting will enrich local communities by leveraging New York’s abundant hydropower resources.”
Upstate Niagara will receive nearly 4.2 megawatts of low-cost power for its planned $215 million expansion at its West Seneca facility. The project involves building a 165,000-square-foot addition to increase manufacturing and storage capacity for yogurt and cottage cheese production. This expansion includes approximately $84 million allocated for site preparation and construction and over $131 million for new machinery and equipment.
John R. Koelmel, NYPA Chairman, commented on the impact: “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.”
In addition to support for Upstate Niagara, three organizations in Western New York received funding through the Western New York Power Proceeds program:
– Shea’s Performing Arts Center was awarded $7.5 million toward its ongoing $30 million renovation project at Shea’s Buffalo Theatre.
– The Ralph C. Wilson Park Conservancy received more than $2.3 million to help fund construction of a multi-use space as part of an extensive park redevelopment.
– The Buffalo Society of Natural Sciences was granted $562,000 to develop an interactive exhibit focused on sports science in partnership with local professional sports teams.
Justin E. Driscoll, NYPA President and CEO said: “The $7.5 million Power Proceeds funding award to Shea’s reflects the Power Authority’s support for Western New York cultural institutions. The renovation and improvement project will enhance the theater’s accessibility and capacity, ensuring that Shea’s remains a dynamic hub for the performing arts. Investments like these not only preserve our cultural heritage but also stimulate economic growth and enrich the community.”
Northern New York also saw investment with Vecino Group New York receiving $1.5 million in Northern New York Power Proceeds funding toward developing an Innovation Center as part of Midtown Plaza redevelopment in Canton—a project projected to create 150 jobs within five years.
Cecily L. Morris, NYPA Trustee 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.”
Funding comes from proceeds generated by unused hydropower sold from NYPA’s facilities under legislation enacted in 2012 and 2014.
Assembly Majority Leader Crystal Peoples-Stokes expressed appreciation: “We here in Western New York are greatly appreciative of this incredible investment to our region through NYPA… We are a sports-crazy town and this exhibit will open eyes… Thank you to Governor Hochul and NYPA for these investments.”
State Senator Patrick M. Gallivan noted: “NYPA’s low-cost hydropower allocations are a significant part of the state’s economic development efforts for both businesses and cultural institutions… helps secure hundreds of existing jobs, and will lead to the creation of 125 new positions.”
Assemblymember Jon D. Rivera added: “The monumental capital investments unveiled today demonstrate how New York’s public power can be leveraged to strengthen our economy while improving quality of life… we are creating good-paying jobs… building public spaces that will serve Western New Yorkers for generations.”
NYPA operates 17 generating facilities with over 80 percent clean renewable hydropower production.
