Mon June 2, 2014
Power allocations helping local businesses add jobs
The Western New York economy is going to get another boost from the Niagara Power Project. More low-cost power will soon be flowing to support hundreds of local jobs.
The New York Power Authority recently approved new allocations of low-cost hydropower to help four companies expand. Captive Plastics plans to increase bottle production at its Dunkirk Plant creating 10 new jobs and retaining more than 50 employees. In Niagara Falls, Durez, which produces materials for the plastics industry, is also expected to benefit.
"We wanted to grow our business. But the margin on that piece was fairly tight and by having this power allocation it allows us to remain competitive in that new market," says Plant Manager Michael Mitchell.
Mitchell says that means Durez will be able to retain 56 employees and create six new positions.
In Wyoming County, Upstate Door is planning to triple its ten-member workforce. In Genesee County, low-cost power will lead to the creation of 26 new jobs at Liberty Pumps.
NYPA Spokesperson Paul DeMichele says there is help available for other companies as well.
"There's 655 megawatts available from the Niagara Project, which is roughly a third of its power output, and that's designated for our expansion power and replacement power programs. That's intended to serve businesses in the Buffalo-Niagara region," DeMichele says.
In all NYPA's latest allocation of low cost power is expected to support 335 local jobs and more than $28 million in capital investments.