In a statement release this morning Kenneth Adams, president and CEO of the Business Council, expresses the business communities concerns over the Legislature’s failure to act on renewing the Power for Jobs program that supports more than 250,000 jobs across the state.

“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.”

To read the full statement click here.

According to The Public Policy Insitute - Currently, Power for Jobs supports nearly 240,000 jobs at approximately 440 businesses and not-for-profits organizations in every region of the State. Since its inception 13 years ago, the program has provided hundreds of millions of dollars in energy cost savings for its customers, spurring job creation and having a positive economic impact throughout the State. The Energy Cost Savings Benefit program, an umbrella program that merged three older economic programs in 2005, supports another 72,000 jobs at nearly 80 businesses. Over the years, the savings for customers have typically ranged from five to 20 percent for their allocations. In 2009 alone, it is estimated the two programs saved their customers between $50 and $100 million in energy costs.