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DECEMBER 1998

NYPA's Power for Jobs allocations

The final 1999 allocations of reduced-rated electric power under the state's Power for Jobs Program will create 526 jobs and protect 6,717 more.

This will bring the program's first-year total to more than 7,200 jobs created and more than 169,000 jobs protected, Governor Pataki said in announcing the final allocation.

"This program has exceeded our most optimistic expectations in its impact on job creation and retention," said Business Council President Daniel B. Walsh.

"Two years ago, we convinced lawmakers to create this program. In April, we persuaded them to accelerate it.

"Now we'll make the next logical suggestion: that lawmakers allocate even more power and make the program an even stronger force for our economy," Walsh said.

Power for Jobs allocates reduced-rate power to employers that promise to use it to create or retain jobs.

The program was originally expected to create or protect 40,000 jobs over three years, Governor Pataki said.

"We're already at more than four times the original estimates, with more allocations coming in the next two years," he added.

The final allocations, which were announced early this month, were made to 11 large and small businesses and four not-for-profit organizations, bringing the total number of recipients in the first year to 263 large and small businesses and 65 not-for-profit organizations.

In the first year, 267,000 kilowatts of reduced-rate electricity were allocated. Another 183,000 kilowatts remains to be allotted in the next two years.

For general information on the program or help submitting an application, call NYPA at 1-888/562-7697 or Kevin Lanahan at The Business Council at 1-800/358-1202.

December 10, 1998