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POWER AUTHORITY DEVELOPMENT PROGRAM ACTS AS 'JOBS MAGNET' FOR MUNICIPAL SYSTEMS

 NEW YORK, Feb. 23 /PRNewswire/ -- New York Power Authority Chairman Richard M. Flynn said his "Power for Jobs" program for the state's municipal electric systems and rural cooperatives "is really picking up steam" with new allocations awarded today to the villages of Arcade and Brocton.
 "This program is proving to be a potent jobs magnet," said Flynn. "We've already attracted more than 500 jobs. And the latest allocations alone will mean 116 jobs and at least $7.5 million in new investment.
 "We think this program has tremendous potential," Flynn said. "Eventually, we hope to create as many as 10,000 jobs in the municipal system and cooperative areas by targeting this power specifically for them."
 Power Authority trustees, meeting here today, approved allocations of low-cost electricity for two new plants in Arcade, Wyoming County, to manufacture fuel pellets from wood waste and a new graphite plant in Brocton, Chautauqua County.
 "These allocations not only will bring additional jobs and investment to Arcade," said Village Mayor Gordon Cramer, "but also will help to produce an alternate energy source and to recycle materials that otherwise might end up in landfills."
 Brocton Mayor Donald McFadden said, "This is a bright day for our village. This new plant will be a big boost for our economy and a strong stimulus for business activity. We particularly welcome the 35 new jobs it will bring."
 The Power Authority program requires companies to create jobs by investing in expansions or new plant in exchange for the power.
 The electricity comes from a 108,000-kilowatt (kw) block set aside for economic development in areas served by the state's 47 municipal and four rural cooperative electric systems, all of which receive Power Authority power. It consists of a 50-50 blend of hydropower from the Niagara Power Project, near Niagara Falls, and electricity from other economical Power Authority sources.
 The latest allocations include up to 900 kw for Dry Creek Products Inc. and up to 1,100 kw for New York Pellet Products in Arcade, and up to 800 kw for Cal


Graphite America in Brocton.
 The two companies in Arcade will be among the first in the Northeast to use wood waste to make fuel pellets for use in special stoves for home heating.
 Dry Creek Products, a local company, is investing about $1 million to purchase property and build a plant that will use sawdust from area lumber mills to produce fuel pellets. It expects to begin operations in March and to employ 30 within three years.
 The Wyoming County Industrial Development Agency is providing financing assistance to the project.
 New York Pellet will invest $1.5 million in plant and equipment for a new "pallets-to-pellets" operation that is scheduled to begin production next month and to create 51 jobs within two years. The plant's raw material will be discarded pallets -- wooden platforms used to move and store various materials.
 Arcade last November became one of the program's first two beneficiaries (Penn Yan, in Yates County, was the other) when Power Authority trustees approved a 750-kw allocation for an expansion at Prestolite Electric Inc. The company plans to double employment at its Arcade operations to about 600 over three years as it merges operations from three out-of-state facilities.
 Cal Graphite America, a subsidiary of a Canadian company, will invest at least $5 million to convert a vacant facility in Brocton to a graphite processing plant and warehouse. It expects to start up the plant this spring and have it fully operational by 1995.
 The plant will screen, grind and blend graphite mined in Canada -- the United States has no graphite mines. Graphite is used in the metal processing, automotive and defense industries, among others.
 The Chautauqua County Industrial Development Agency is providing financial assistance for the project.
 Under separate elements of the Power for Jobs program, the Power Authority trustees today also approved low-cost power for eight other companies in Western New York and six on Long Island. The 17 companies covered by today's actions will create a total of 840 jobs and protect nearly 5,000 existing positions in exchange for the power.
 -0- 2/23/93
 /CONTACT: Laurence Frech of the New York Power Authority, 212-468-6351/


CO: New York Power Authority ST: New York IN: UTI SU:

GK -- NY077 -- 9526 02/23/93 15:09 EST
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Date:Feb 23, 1993
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