Thriving economies depend on reliable energy supplies and competitive pricing to drive economic growth. The restructuring of New York State's monopolistic electric industry has provided more choices to customers and delivered approximately $4.4 billion in rate reductions since 1966.

New York State and the electric and gas utilities serving the State offer a variety of energy cost saving programs that help businesses reduce costs, preserve and create jobs, and boost economic growth.

An example is New York State's successful Power for Jobs Program, which provides 450 megawatts of low cost electricity to businesses that remain and expand in the State. Since 1997, Power for Jobs has helped to create and retain over 300,000 jobs at over 450 businesses. In accordance with the program, after a company fulfills the requirement to retain or create a specific number of jobs, it receives energy cost savings that range from 10 to 25% depending on usage and local utility delivery charges.

In addition, New York State offers technical services and capital financing to help businesses identify and implement cost-effective, energy-efficient measures. Technical services include engineering feasibility studies, technical training on energy efficient technologies, and engineering support for project financing proposals. The energy-related technical assistance and capital financing programs are available to industrial, commercial, not-for-profit and private institutions.

The highly successful Build Now-NY Program offers "shovel ready" pre-approved, pre-permitted sites that include competitive energy prices. Another program grants reduced electric and gas rates to eligible companies locating within New York State Empire Zones.

Further savings are available directly through New York State's electric and gas utilities. They offer rate discounts to companies that build new facilities, occupy vacant space, relocate to benefit from alternative energy sources, move or expand in areas designated as economically distressed, and move to or expand in areas with underutilized utility infrastructure.

For more information on New York State's energy cost savings programs, contact Empire State Development at 1-800-STATE-NY or 1-800 782-8369 or phone Michael Santarcangelo at 518-292-5271 and e-mail: msantarcangelo@empire.state.ny.us.