Yahoo!, hydropower creating NY jobs
The New York Power Authority (NYPA) has approved low-cost hydropower allocations to five NY firms to support the creation of 215 jobs and $193 million in capital expansion projects.
Under New York state law, allocations of power from the Niagara plant are for firms within a 30-mile radius of the hydroelectric facility, or in nearby Chautauqua County, at more than 40 percent lower than wholesale electricity prices in the region.
The allocations to Yahoo!, SiGNa Chemistry, Aurubis Buffalo, International Imaging Materials and RubberForm Recycled Products total nearly 13 MW from NYPA's Niagara Hydroelectric Power Project.
The hydropower will be provided under seven-year contracts, with the allocations drawn from two blocks of Niagara electricity, Expansion Power and Replacement Power. In addition to new permanent jobs, the companies' capital investments are expected to support hundreds of construction jobs, more than half of which will be created by Yahoo! as it establishes a customer call center and expands its data center.
"The expansion plans by Yahoo and the other four companies is another sign of continued development momentum for Western New York and highlight the role that the Niagara hydropower plant plays as a magnet for job creation," said Sam Hoyt, regional president, Empire State Development, New York's chief economic development agency, in a statement.
Yahoo! will receive a 7.2 MW allocation for a customer call center that will create a minimum of 100 jobs. Expansion of its Lockport data center is expected to add 15 new positions to the facility's current workforce. In addition to hydropower, Yahoo! will receive up to $2 million in Excelsior tax credits over 10 years as a further incentive for its expansion plans.
"…we thank New York State and local authorities for working with us to ensure we continue to power our data center with clean energy," David Dibble, executive Vice President of central technology for Yahoo!, said in a statement.
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