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For Release — May 14, 2010

Business Council disappointed with the Legislature's failure to act on Power For Jobs

ALBANY—“We are deeply disappointed that the legislature has not completed work on a new economic development power program to replace the current program that expires tomorrow, May 15,” said Kenneth Adams, president and CEO of the Business Council of New York State, Inc. “With everyone focused on preserving and creating jobs in New York, it is inexplicable that a state energy program that supports more than 300,000 good paying jobs will expire, even temporarily.”

More than 500 New York companies that get competitively priced electricity from the state's Power for Jobs and related programs will face higher energy prices next week unless the Governor and the legislature act on new legislation immediately.

“Legislation has been introduced for a long-term energy program that will support business and jobs, produce significant economic returns to the state, and provide rate protection and new efficiency funding for upstate residential ratepayers,” said Adams.

“The legislature's failure to revamp this program by its own self-imposed deadline of May 15, will cause significant disruption and increased costs for hundreds of manufacturers and other businesses for which energy costs are a major competitiveness factor.” said Adams.

“The Senate has already passed one version of this legislation; we need the Assembly to come to the table and complete this work,” continued Adams. “The legislature needs to act now, and provide long-term support for the state's energy intensive business and the hundreds of thousands of New Yorkers they employ.”