Another 55 businesses will receive lower-cost power under Power for Jobs

Another 55 New York State businesses will receive reduced-rate electric power under the state's Power for Jobs Program.

On Oct. 26, the state's Economic Development Power Allocation Board recommended new allocations of reduced-rate power to 40 large businesses, 15 small businesses and six not-for-profit organizations-creating more than 1,500 new jobs, Governor Pataki said in announcing the allocations.

The Business Council strongly supported the creation of the Power for Jobs program last year. The program is designed to offer reduced-rate power to companies that pledge to use that power to create and/or retain jobs.

The program began in December 1997 and was so successful that the first year's allotment of power was fully allocated within five months. The Council then lobbied successfully to accelerate the program and add more power to it.

"Power for Jobs has been an unqualified success," Governor Pataki said, noting that recipients of power have created more than 6,700 new jobs and pledged to maintain nearly 170,000 jobs.

"Best of all, we're only about halfway through the allocation process," he added. "There's plenty more to come."

Over three years, the Power for Jobs program will provide a total of 450,000 kilowatts of lower-cost electricity to help companies and not-for-profits "bridge" the transition to utility industry competition that will provide lower electric rates.

Almost 200,000 kilowatts remain to be allocated in the next two years, and The Council is encouraging interested members to apply early, said Kevin Lanahan, The Council's specialist in energy issues. He added that The Council will continue to work with members to help guide them through the application process.

For information on applying, call the New York Power Authority at 1-888/562-7697 or Kevin Lanahan at The Council at 1-800/358-1202.

October 29, 1998