The state is awarding low-cost power to two Auburn companies advancing multi-million-dollar expansion projects.
Gov. Andrew Cuomo announced the power allocations Thursday. The New York Power Authority, through the ReCharge New York program, will allocate 310 kilowatts to Currier Plastics and 30 kilowatts to Copper John Corporation, both Auburn manufacturers.
Nearly 30 companies and organizations will receive low-cost power in the latest round of allocations, according to the governor's office. The power will support $1.4 billion in investment and the projects are expected to create more than 1,000 new jobs.
Cuomo touted the Recharge NY program as an initiative that has helped boost economic development throughout the state.
"Not only has the low-cost program supported hundreds of thousands of workers, but it continues to create new jobs and encourage growth across New York," he said.
The power will help the two Cayuga County businesses as they proceed with expansion plans.
Currier Plastics is in the early stages of a $9.9 million expansion that will enable the company to increase its medical supply portfolio. The project will include the purchase of a 165,000-square-foot building and new equipment to expand its manufacturing operations.
The Central New York Regional Economic Development Council endorsed the expansion as one of its priority projects for the seventh round of the state competition. The region was one of the top performer award winners announced earlier this month.
With the win, Currier Plastics will receive a $1.8 million state grant and $180,000 in tax credits linked to job creation goals.
The $1.4 million expansion proposed by Copper John Corporation, an archery accessories manufacturer, was also a priority project for the regional council. The company was awarded a $280,000 grant and $100,000 in tax credits to assist with the purchase of new equipment.
Copper John Corporation wants to bring manufacturing jobs back to the U.S. The company outsources some of its production to China. By adding new equipment and reconfiguring its State Street facility, owners Doug and Eric Springer plan to retain six employees and create 12 new jobs.