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NYPA Approves 13 New Power for Jobs Allocations; Lower-Cost Electricity to Help Create Over 270 New Jobs.

Business Editors

NEW YORK--(BUSINESS WIRE)--March 20, 2003

The New York Power Authority Trustees Thursday approved new allocations under the latest phase of Governor George E. Pataki's Power for Jobs program, with 13 businesses and not-for-profit organizations promising to create 272 new jobs in return for the discount-priced electricity.

"The newest recipients of this power are spread out across New York State, demonstrating the continued vitality of Governor Pataki's highly successful Power For Jobs program, which is linked to about 300,000 jobs at more than 700 businesses and nonprofit enterprises, including hospitals, colleges and cultural institutions," said Louis P. Ciminelli, NYPA chairman. "The latest allocations stem from legislation last year, setting aside additional amounts of economical power for reallocations to existing customers and new allocations to other qualified recipients."

Ciminelli noted that in addition to the new allocations, the trustees approved reallocations for 10 Power for Jobs customers whose contracts were expiring in 2002 and beyond. Collectively, the latest allocations, for new and existing customers, total more than 10,000 kilowatts (kw) of power, and will help protect or create over 4,900 jobs.

The businesses receiving new allocations are the AT&T Corp, Manhattan; Clay Park Labs, the Bronx; Diamond Ice Cube Co., the Bronx; B.H. Aircraft Co., Ronkonkoma; Dayton T. Brown, Inc., Bohemia; Crowley Foods, LLC, Lafargeville (Jefferson county); Fedco Automotive Components Co., Buffalo; Sabin Metal Corp., Scottsville (Monroe county); Sonoco Flexible Packaging, Fulton (Oswego county); and the Ontario Knife Co., Franklinville (Cattaraugus county).

Three not-for-profits were also among the first-time recipients: Albany Institute of History and Art; Ellis Hospital, Schenectady; and Samaritan Medical Center, Watertown. (See attachments for the specific allocations and job commitments.)

The legislation proposed by Governor Pataki and enacted into law in 2002 established a new Phase Five for Power for Jobs, making an additional 183,000 kw of lower cost power available through 2005 for existing and new customers. Previous to today's action, the NYPA trustees had approved 182 allocations under Phase Five, linked to the retention of 65,117 jobs, for businesses and nonprofits whose three-year contracts were expiring. The latest allocations are the first to include new customers in the current program phase, and leave nearly 76,000 kw still to be allocated.

First launched in late 1997 with an allotment of 400,000 kw, Power for Jobs was originally expected to protect or create up to 40,000 jobs, which is about 13 percent of the current job total. The program, which has resulted in cumulative savings of hundreds of millions of dollars for its customers, was conceived as a bridge to competition and lower prices in the electricity marketplace from the deregulation of the electric power industry.

NYPA administers the Governor's program, with its trustees authorizing allocations on the basis of recommendations of the New York State Economic Development Power Allocation Board (EDPAB)--a four member board consisting of appointees of the Governor and state legislature.

New York Power Authority
Power for Jobs
Recommendations for Phase 5 New Allocations Cust-
 Jobs omer
 New Company City County kW New Retained Total Type
 ----------- ---- ------ -- --- -------- ----- ----
1 AT&T
 Corporation New York New York 1,000 - 137 137 Large
2 Clay
 Park
 Labs, Inc. Bronx Bronx 1,000 15 470 485 Large
3 Diamond
 Ice Cube
 Co. Inc. Bronx Bronx 75 3 18 21 Small
 ------ -- --- ---
 2,075 18 625 643
4 B.H.
 Aircraft
 Company,
 Inc. Ronkonkoma Suffolk 525 15 92 107 Large
5 Dayton T.
 Brown, Inc. Bohemia Suffolk 1,000 65 266 331 Large
 ------ -- --- --- -----
 1,525 80 358 438
6 Albany
 Institute
 of History
 & Art Albany Albany 150 - 26 26 NFP
7 Crowley
 Foods, LLC Lafargeville Jefferson 1,000 - 153 153 Large
8 Ellis
 Hospital Schenectady Schenectady 1,000 15 1,213 1,228 NFP
9 Fedco
 Automotive
 Components
 Co. Inc. Buffalo Erie 400 - 124 124 Large
10 Sabin
 Metal
 Corporation Scottsville Monroe 1,000 - 198 198 Large
11 Samaritan
 Medical
 Center Watertown Jefferson 600 150 1,155 1,305 NFP
12 Sonoco
 Flexible
 Packaging Fulton Oswego 800 - 123 123 Large
13 The
 Ontario
 Knife
 Company Franklinville Cattaraugus 250 9 48 57 Large
 ---- -- --- ---

 5,200 174 3,040 3,214

 8,800 272 4,023 4,295


New York Power Authority
Power for Jobs
Recommendations for Phase 5 Reallocations

 Customer
 Company City County KW Jobs Type
 ------- ---- ------ -- ---- ----
 1 American Indian
 Community House, Inc. New York New York 40 41 NFP
 2 Comco Plastics, Inc. Woodhaven Queens 500 93 Large
 3 Coney Island USA Brooklyn Kings 15 6 NFP
 4 Orazio & Sons Meats Brooklyn Kings 30 6 Small
 5 Ruby Freeman, Inc. Brooklyn Kings 20 9 Small
 6 The New 42nd Street New York New York 100 59 NFP
 7 The Writers Room New York New York 15 3 NFP
 -- --
 720 217


 8 BOC Edwards
 Pharmaceutical Systems Tonawanda Erie 350 197 Small
 9 Curtis Screw Buffalo Erie 300 132 Large
 --- ---
 650 329


10 Moorgood Tools, Inc. Rochester Monroe 200 69 Small


 1,570 615

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Publication:Business Wire
Geographic Code:1USA
Date:Mar 20, 2003
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