Governor Hochul Announces Power Authority Economic Development Awards That Will Spur Nearly $267 Million in Private Capital Investments

Governor Kathy Hochul today announced economic development awards from the New York Power Authority (NYPA) that will spur nearly $267 million in private capital investments. Included among the awards, approved today by the NYPA Board of Trustees, is a low-cost Niagara hydropower allocation to Upstate Niagara that will support New York dairy farms and create 125 jobs. Additionally, the NYPA board approved nearly $12 million in Power Proceeds funding that will be directed to four organizations—three in Western New York and one in Northern New York.

“The Power Authority’s economic development awards are a dynamic engine that stimulates growth across New York State, fueled by the availability of NYPA's low-cost power,” Governor Hochul said. “Through a variety of programs, the Power Authority is driving job creation, encouraging capital investments and supporting the maintenance and enhancement of important cultural institutions. The awards approved at today’s NYPA board meeting will enrich local communities by leveraging New York’s abundant hydropower resources.”

Western New York Hydropower

At today’s meeting, the NYPA Board of Trustees approved a nearly 4.2-megawatt low-cost Niagara hydropower allocation to Upstate Niagara, a dairy cooperative, comprising approximately 260 dairy farms located in New York State.

Upstate Niagara will build a $215 million, 165,000-square-foot expansion at its West Seneca facility to increase its manufacturing and storage capacity. The new space will help the cooperative meet its growing demand and streamline its yogurt and cottage cheese production processes. The firm will spend nearly $84 million on site preparation and construction and expend more than $131 million to outfit it with new machinery and equipment. The expansion will lead to the creation of 125 jobs at the site, and the ensuing increase in production volume is expected to grow the number of dairy farm workers throughout the state.