NY providing low-cost hydropower to help Ingram Micro, Graphic Controls and Finger Lakes Fresh expand
The state of New York has announced plans to allocate low-cost, locally produced hydropower to three firms in Western New York and the Southern Tier. Through providing low-cost power, the state of New York will free up company resources so that Ingram Micro, Graphic Controls and Finger Lakes Fresh can expand their local workforces.
The allocation is expected to help create over 100 new jobs in New York, while retaining close to 2,000 existing jobs.
Ingram Micro, the largest global wholesale technology distributer, was awarded a seven-year hydropower allocation of 130 kW so that it can expand its operation to a second Amherst facility. Ingram Micro will invest $2.75 million, with the possibility of an additional $8.25 million in capital expenditures. The expansion will allow Ingram Micro to retain its 1,510 employees as well as create 90 additional positions within the next two years.
Graphic Controls is a manufacturer of data recording, medical and life science products and transactional media. Graphic Controls was awarded a seven-year hydropower allocation of 510 kW and will retain its more than 280 full-time employees, create 35 new jobs and invest a total of $950,000 into its Buffalo location to upgrade the facility’s electrical system, production equipment and infrastructure.
Finger Lakes Fresh will benefit from an allocation of 150 kW of hydropower provided through the Village of Groton to relocate its lettuce packaging operations as part of establishing a $2.4 million food hub in Groton. The construction of the distribution center will result in the creation of more than 20 jobs.
The low-cost hydropower is currently priced at more than 50 percent less than wholesale market electricity in the regions of the latest allocations. In addition to new permanent jobs, the capital investments by the companies receiving the latest power awards are expected to support dozens of construction jobs.