It is critical that the legislature adopt a new, statewide economic development power program in the 2010 session.

The Power for Jobs and the Energy Cost Savings Benefit programs expired on June 2, 2010, leaving several hundred energy-intensive businesses facing higher costs and uncertainty regarding future power supply and prices.

Kenneth Adams, President & CEO of The Business Council of New York State, Inc. stated, “New York needs a permanent economic development power program now. Competitively priced power is crucial for employers and workers across New York, and particularly for upstate manufacturers. We support legislation that has already passed the Senate with broad, bipartisan support, and deserves broad Assembly support as well. A permanent power program will support hundreds of energy-intensive businesses and tens of thousands of high paying jobs.”

We strongly support Assembly approval of S.8065, which has already passed the Senate with broad, bipartisan support (vote of 59 to 2).

This legislation includes key provisions necessary to support high paying jobs and promote new capital and energy efficiency investments, resulting in significant economic returns to the state. These include:

• A new, permanent program to replace the Power for Jobs and Economic Development Power programs that will provide predictability and certainty for program participants.
• A 910 MW program that will give the state more economic development power resources than are available under expiring programs, that can accommodate new program participants statewide.
• Allocation-based power benefits and long-term contracts of up to seven years that will provide competitive, stable electric power prices to energy intensive businesses.
• Eligibility criteria that assure significant, long-term economic return to the state, including the number and value (wages and benefits) of jobs created and retained, investments in capital equipment and energy efficiency, the significance of energy costs to a business’ competitiveness, and the local economic significance of the facility.

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