New York has given discounted power to seven Long Island companies that have promised to create or preserve nearly 1,300 jobs and spend nearly $31.6 million to improve their facilities.
The state Power Authority said Wednesday its ReCharge NY program has approved 1,574 kilowatts of low-cost electricity for Island companies in exchange for the commitments of jobs and investments in buildings and equipment.
A thousand kilowatts can power 800 to 1,000 homes.
The program “has proven to be a highly effective economic development engine” on Long Island, Gil C. Quiniones, president and chief executive of the authority, said in a statement.
This week’s biggest local award went to Poly-Pak Industries Inc., in Melville, which will receive 390 kilowatts. The manufacturer of packaging products will retain 225 jobs and spend $1 million on new equipment, the authority said.
Also approved for low-cost power was Entourage Commerce LLC, which committed to creating 175 new jobs, retaining 250 jobs and spending $24 million on its facilities and equipment. The company, which fulfills online orders for beauty products and is relocating from College Point, Queens, to Hauppauge, will receive 280 kilowatts.
“The savings are significant” and will help the company add new jobs on Long Island, James Mastronardi, Entourage chief financial officer said in a statement.
The state also granted low-cost power to Slant/Fin Corp. in Greenvale, Astro Electroplating Inc. in Bay Shore, Sunharbor Acquisition I LLC in Roslyn Heights, Optima Foods Inc. in Deer Park and Alpine Overhead Doors Inc., in East Setauket.
Statewide, ReCharge NY this week approved allocations of nearly 5,400 kilowatts to 11 companies, including the seven on Long Island.
The companies will receive the discounted power for up to seven years.
On Long Island, 148 companies participated in ReCharge NY as of Dec. 1, including CA Inc., Pall Corp. and Canon U.S.A., according to a report by the authority earlier this year. Statewide, the program had 741 participants.