A manufacturer of aircraft parts has been awarded low-cost electricity by New York State in return for promising to invest $5 million and retain 37 jobs at one of its two local factories.
PCX Aerostructures LLC is among 13 businesses and nonprofit groups on Long Island to receive discounted electricity from the state Power Authority in its latest allocations under the ReCharge NY program.
Together, the companies said they would hire 79 people, retain 629 and spend $16 million on equipment and other improvements to their operations, Gov. Andrew M. Cuomo announced Tuesday.DocumentSee which companies got cheap power
The power recipients, as a group, will use 1,296 kilowatts. A thousand kilowatts can power 800 to 1,000 homes.
PCX received 156 kilowatts for its plant at 70 Raynor Ave. in Ronkonkoma and has pledged to invest the most among the power recipients. The Connecticut-based company also has a factory in East Farmingdale and specializes in parts for rotorcraft and fixed-wing planes.
Both facilities were once part of equipment manufacturer SPX Corp. and were purchased in 2014 by a private equity group led by Alan L. Haase, who later became CEO. The investors renamed the business PCX.
The largest power allocation — 236 kilowatts — will go to PQ Recycling LLC in East Farmingdale. In return for the cheap electricity, the recycler of plastic containers has promised to maintain its work force of 30 people and invest $1.5 million in equipment, according to Power Authority spokesman Paul DeMichele.
The most jobs — 30 — will be created by John Hassall Inc., another manufacturer of aircraft parts.
The Westbury company has been staging a comeback after filing for bankruptcy in 2014 and then being purchased by private equity investors in January 2015. It plans to spend $300,000 on its operation in return for 140 kilowatts.
Earlier, John Hassall received 320 kilowatts to retain its workforce of 94.
Power Authority CEO Gil C. Quiniones said its allocations “target businesses with heavy power demands in need of immediate cash flow. Time and again we have found this program has made the difference in a business deciding to grow its operations and retain or create jobs.”
More than 150 businesses and nonprofits in Nassau and Suffolk counties benefit from ReCharge NY, which began four years ago. About 61,000 local jobs are tied to power allocations, according to officials.