For Release — November 6, 2008
Business Council supports NYPA-Alcoa hydropower contract
ALBANY— A long term hydropower contract between the New York Power Authority (NYPA) and Alcoa will retain jobs and secure capital investment, according to The Business Council of New York State.
“The Business Council supports this contract for two key reasons. First, it will result in a $600 million capital investment, at a minimum, in a state of the art manufacturing facility. Two, it will secure nearly one-thousand manufacturing jobs in the North Country,” said Ken Pokalsky, senior director of government affairs at the Council.
“High paying manufacturing jobs are incredibly valuable, difficult to retain, and – especially in upstate New York – even more difficult to replace once lost,” added Pokalsky.
His remarks came in testimony at a NYPA hearing on the contract which would provide competitively priced hydropower to Alcoa, which would commit to the investment and job retention.
Alcoa is the state's largest private sector employer north of Syracuse and adds nearly $350 million to the local economy through salaries, pensions and local purchases.