ALBANY — Gov. Andrew M. Cuomo has announced the approval of new low-cost power allocations that will support more than 10,700 jobs.

The New York Power Authority Board of Trustees at a recent board meeting approved 24 low-cost power allocations to 19 businesses and two not-for-profit organizations under the ReCharge NY program that will support 10,568 jobs, including hiring for 782 new positions. The board also approved low-cost hydropower allocations that will support an additional 150 new jobs.

“These low-cost power allocations help create and support thousands of jobs across New York and bolster our efforts to build a cleaner, greener future for all,” Cuomo said. “These initiatives leverage our state’s clean, efficient power to help more businesses hire, expand and thrive in every corner of the Empire State.”

The ReCharge NY power allocations are expected to spur more than $727 million in new capital investment. The 24.47 megawatts of low-cost power under the latest ReCharge NY allocations will be distributed among enterprises from Long Island to Western New York. Enterprises in the Capital District, Central New York, the Finger Lakes, Long Island, Mid-Hudson, Mohawk Valley, New York City, the Southern Tier and Western New York are recipients.

In addition to the RNY allocations, the NYPA trustees also allocated Niagara hydropower to two municipal electric systems on behalf of expanding businesses and to a firm in Erie County. Those actions are expected to lead to capital investments of nearly $30 million and support the creation of more than 150 jobs.

Gil C. Quiniones, NYPA president and CEO, said, “NYPA’s low-cost hydropower allocations grant long-term contracts, providing businesses with the security needed for growth. These hydropower allocations from the Niagara Power Project are directly creating jobs for New Yorkers and ensuring that businesses choose to stay and grow in our state.”

Brammo, an engineering and electric storage systems firm in the Southern Tier’s Chenango County, was approved for a low-cost hydropower allocation of 125 kilowatts. The village of Greene, which is a municipal customer of the Power Authority, applied on behalf of Brammo for the low-cost hydropower through NYPA’s Industrial Economic Development Program, which utilizes a 54-MW block of hydropower.

Hydropower from that economic development program is allocated to individual systems to meet the increased electric load that results from eligible new or expanding businesses. Brammo will be renovating its facility, adding 99 new jobs and committing $3 million in capital investments.

Under the same power program, Briggs & Stratton, a commercial mowing equipment manufacturer in Oneida County, was allocated 800 kW of hydropower. The city of Sherrill, also a NYPA municipal customer, applied for the power on behalf of the firm. The allocation supports the creation of 48 jobs and a capital investment of $20 million for the renovation of the company’s 570,000-square-foot facility.

Flexo Transparent, a manufacturer of printed flexible packaging in Buffalo, was allocated 300 kW of hydropower to facilitate a $6.5 million expansion that will allow the firm to increase its production. The project will create five jobs.

Empire State Development is also supporting the expansions for both Briggs & Stanton and Flexo Transparent. Briggs & Stanton is receiving a $1.5 million capital grant and a $1 million Excelsior Tax Credit. Flexo Transparent is receiving a $150,000 capital grant.

Low-cost Niagara hydropower is available for companies within a 30-mile radius of the Niagara hydroelectric power plant or businesses in Chautauqua County. The hydropower is linked to tens of thousands of existing jobs.

Learn more about low-cost power allocations and other business growth opportunities on NYPA’s Economic Development website at http://www.nypa.gov/power/customers/economic-development.