Company In Line For Cheaper Power

James L. Seward

January 24, 2005

ALBANY,1/24/05 -- A local company is on a state list to get cheaper electricity to run its operations, Senator James L. Seward said today.

Gehring Tricot Corp. is seeking 450 kw of cheaper energy in order to retain 114 jobs at its Dolgeville plant. A company typically pays 25 to 30 percent less for its electricity under the "Power for Jobs" program authored by Seward as former chairman of the Senate Energy Committee. The company, which dyes knitted fabrics, has a payroll impact on the area of $3.2 million.

The company has an application before the state Economic Development Power Allocation Board, which meets Tuesday, January 25 in White Plains to make a final decision.

"The firm is in line for additional cheap electricity as a result of legislation I developed which seeks to cut energy costs for manufacturers so that they can save local jobs," Seward said. "Electricity can be a manufacturer’s biggest expense. By making cheaper power available, we can help keep jobs right in our local communities."

The energy is allocated through the New York Power Authority.