On the same day the north country learned 40 jobs will be created in a $21 million expansion of Corning’s Canton plant, St. Lawrence County received another economic shot in the arm when the New York Power Authority approved low-cost power allocations for two more manufacturers that will keep or add jobs with capital investments.
The allocations will go to Potsdam Specialty Paper and Riverside Iron, Gouverneur, under the ReCharge NY program, NYPA announced Tuesday. The low-cost power is expected to leverage an estimated $14.3 million in capital investments and support 79 jobs, 12 of which will be created.
“I think anytime we see power allocation in the county is a good thing, and to have three different areas, with Corning in the Canton area, Potsdam Paper and Riverside Iron in Gouverneur, is crucial,” said Patrick J. Kelly, CEO of the St. Lawrence County Industrial Development Agency. “These are also three different areas that are receiving this allocation. It is very beneficial to their operations and in turn a good thing for the county.”
Potsdam Specialty Paper, 547 Sissonville Road, will receive 2,116 kilowatts for its commitment to retain its 67 jobs and invest $14 million into its facility over the next five years. [Read more...]