IN THE NEWS: Staten Island Advance - New Cuomo program benefits three Staten Island companies
Published: Monday, April 30, 2012, 5:44 AM by Judy Randall
STATEN ISLAND, N.Y. -- Three Staten Island companies will be the beneficiaries of reduced power costs under a new Cuomo administration program aimed at lowering the price of doing business and retaining jobs in the Empire State.
Pratt Industries, the New York Container Terminal and Staten Island University Hospital were tapped after input from local lawmakers and an application process established to apportion state financial incentives and resources to spur economic development under the ReCharge New York program.
Statewide, 517 businesses and not-for-profits were awarded lower-cost power allocations.
The lower-cost energy program kicks in July 1 and offers contracts of up to seven years. It's administered by the New York Power Authority, Empire State Development and the Governor's Regional Councils.
Pratt will receive 10,000 kilowatts of lower-cost energy; NYCT 436 kW and SIUH 330 kW.
For NYCT, it will mean a 14.5 percent savings, said Thomas Fallon, vice president of maintenance and repair.
"This puts us on the same plane as our competitors in New Jersey," said Fallon.
"We are pleased," affirmed NYCT CEO Jim Devine. "We are competing with New Jersey terminals in an environment where maritime commerce there is more supported."
Neither Pratt nor SIUH could immediately quantify the cost savings to them.
But SIUH CEO Tony Ferreri said: "It will represent a significant savings for Staten Island University Hospital. In this economic climate, any savings in our overall expenses are helpful to the hospital in meeting our needs."
Pratt's Atlanta-based CEO, Brian McPheely, said in a statement that he is "pleased Pratt Industries' importance to the economy of Staten Island and the state and city of New York has been recognized with this allocation."
State Sens. Andrew Lanza and Diane Savino and Assemblyman Michael Cusick hailed the initiative.
"These service providers and job creators are critically important to the well-being of Staten Island," said Lanza (R-Staten Island). "These awards will allow jobs to stay on Staten Island and give these businesses the opportunity to expand."
"This was a very competitive process," said Cusick (D-Mid-Island). "Approval for the lower-cost power allocation not only provides electricity rate stability, it gives our businesses vast economic benefits for investing in their facilities."
"This Earth week, I am proud of these Staten Island-based companies for their commitment to retain jobs while being environmentally sensitive," said Ms. Savino (D-North Shore/Brooklyn).
"ReCharge New York allows us to supply low-cost power to energy-intensive manufacturers and other key enterprises under long-term contracts," said Gov. Andrew Cuomo, "to make sure these businesses stay in New York and hire New Yorkers."