Senator Volker Announces The Passage Of One Year Extension Of The Power For Jobs Program
(ALBANY, NY) Senator Dale M. Volker (R-C-I, Depew) announced today The New York State Senate today approved legislation (S.5826a), that provides for a one year extension of the Power for Jobs and Energy Cost Savings Benefits programs. The legislation will provide for these low-cost energy programs to continue without a break and will be extended to June 30, 2008.
"Employers throughout western New York depend on the Power for Jobs program and the Energy Cost Savings Benefits program in order to remain competitive in the world marketplace," said Senator Dale M. Volker. "The cost of energy is a significant cost for many businesses located in western New York, and we must continue to do all that we can to ensure that these companies can continue to create and retain jobs, and compete with other states and nations. If we were not to extend these low-cost energy programs, the economic loss to the western New York region would have been staggering."
In July 1997, the State Senate proposed and approved the new Power for Jobs program to provide 400 megawatts (mw) of economical electricity for businesses and not-for-profit corporations that commit to create or retain jobs in New York. The program was amended a number of times to accelerate power allocations, provide additional megawatts for qualified participants and to extend the program benefits. It has proven to be an invaluable economic development tool and have created and retain hundreds of thousands of jobs throughout the State of New York.