Printer Friendly

NEW, PROPOSED NEW YORK POWER AUTHORITY ALLOCATIONS COULD SUPPORT 3,000 JOBS

 NEW, PROPOSED NEW YORK POWER AUTHORITY ALLOCATIONS
 COULD SUPPORT 3,000 JOBS
 NEW YORK, Oct. 28 /PRNewswire/ -- More than 3,000 manufacturing jobs are linked to new and proposed allocations of economical New York Power Authority electricity, Power Authority Chairman Richard M. Flynn said Wednesday.
 "It's great to see our lower-cost power spurring new manufacturing jobs in New York," said Flynn, "especially when you consider the cutbacks in that sector in recent years."
 Power Authority trustees Wednesday:
 -- Approved providing 600 kilowatts (kw) to Curtains and Fabrics Inc. to help the new company employ 250 by 1995 at its $7.25 million curtain manufacturing plant in Herkimer. The 15-year allocation will come from the Power Authority's James A. FitzPatrick Nuclear Power Plant on Lake Ontario near Oswego.
 -- Proposed allocating low-cost hydropower to help create 268 jobs and protect 2,515 others at the Ford Motor Co. in Buffalo and Nuttall Gear Corp. and Stollberg Inc., both in Niagara Falls.
 In line with Power Authority regulations, competing proposals will be sought from other businesses proposing to expand or locate in Western New York, prior to final decisions on the hydro allocations.
 The allocations would draw on a block of 250,000 kw from the Niagara Power Project that the Power Authority has reserved to encourage industrial development in Western New York.
 Ford Motor Co. plans to invest more than $200 million in installing new machinery at its Buffalo stamping plant, which makes automotive parts for assembly plants and distribution centers in the United States and Canada.
 In return for 2,900 kw of hydropower, Ford would protect the 2,400 existing jobs at the plant, plus 218 new jobs that would be created as a result of the expansion.
 Nuttall, in return for a 350-kw allocation, would add 35 jobs to its 100-person work force that makes gear drives for industrial, commercial, transportation and utility applications. The company also would add $250,000 of machinery and equipment at its Niagara Falls plant.
 Stollberg, a subsidiary of Stollberg GmbH, a German company, would double its 15-person work force in return for 300 kw. It plans to invest more than $5 million to expand its Niagara Falls plant, which makes molding-related equipment and powders for the steel industry.
 Statewide, Power Authority nuclear and hydroelectric power helps protect more than 130,000 jobs.
 -0- 10/28/92
 /CONTACT: Laurence Frech, 212-468-6351, for New York Power Authority/ CO: New York Power Authority ST: New York IN: UTI SU:


LR -- NY091 -- 6083 10/28/92 14:01 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 28, 1992
Words:421
Previous Article:MODAMI SERVICES ANNOUNCEMENT
Next Article:MIDWEST RESOURCES DECLARES DIVIDEND


Related Articles
POWER AUTHORITY HOLDS FORUM ON REPLACEMENT POWER RATES
POWER AUTHORITY ACTIONS LINKED TO MORE THAN 900 JOBS AT SIX FIRMS
LOW-COST POWER AUTHORITY ELECTRICITY MAY HELP CREATE OR PROTECT 4,350 JOBS
LOW COST NEW YORK POWER AUTHORITY ELECTRICITY MAY HELP TO CREATE 291 JOBS AND PROTECT ANOTHER 1,946 AT COMPANIES IN NEW YORK STATE
NEW POWER AUTHORITY ALLOCATIONS LINKED TO 6,800 MANUFACTURING JOBS IN STATE
NEW YORK POWER AUTHORITY: POWER ALLOCATIONS IN NYC, YONKERS BRING NEW JOBS, RENOVATIONS
NEW YORK POWER AUTHORITY APPROVES POWER ALLOCATION FOR IBM RESEARCH IN WESTCHESTER
LOW-COST ELECTRICITY PROPOSED FOR FIRMS IN FOUR COUNTIES
GM PLANT AT MASSENA RECOMMENDED FOR LOW-COST POWER
Power Authority Approves Proposed Power for GM Massena

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters