Report Economic Development

Overhauling the New York Power Authority's Economic Development Programs

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September 22, 2009

The New York Power Authority (NYPA) operates nine difference economic development programs.  These programs offer discount power to a variety of businesses around the state to try to promote economic growth. As they are currently configured, these programs do not support the State's long-term energy or economic development goals. Deeply discounting power does not create conservation incentives, and there is evidence that the programs are not effective in creating jobs or investments that would grow the economy. Over the next few years many of the programs and contracts with specific firms expire, providing the opportunity to improve then so that they better serve both goals. This report documents the problems with the esixting programs and supplies a blueprint for their redesign.