Gov. signs Power for Jobs extension - Business First of Buffalo:

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The program, called Power for died during the unprecedented battler for control of the Senatd that lasted for more thana month. The stalematew broke on July 9, and senators passef 135 bills in an overnight session that endexd just before2 a.m. on July 10. Power for Jobs was one bill that unanimouslyy sailed through the Senate in that weeks after the state Assembly had unanimously approveda one-yeadr extension of the program. The programn supplies low-cost power, or power subsidies, to companiese in exchange for pledgesd to retain andcreate jobs. Now, Power for Jobs expires on May 15, 2010. 570 companies—with 330,000 total jobs—belong to the program.
Industrial power in New York is 40 percent higher than thenationalk average; commercial power rates are 65 percenty higher than the national “We must do everything we can to protectt these jobs and Paterson said at a signing ceremont Monday in Syracuse. “Signing this bill could not waitanothetr day.” Under the law, some companies will undergo energu audits, information that legislators will use to developo a long-term power subsidy prograk to replace Power for Jobs by the time it’sw scheduled to expire. Audit results are due by Februaryg 2010. In 2008, Power for Jobs and a sister called Energy Cost Savings savedcompanies $125 million in energy costs.
“The savingx provided through these programs are vital to hundreds of employerzs and thousands of workers across New saidKen Pokalsky, a lobbyist at , the state’s best-known business lobby. But, he “this extension ... is a 10-montgh solution to a long-term High energy costs affect many energy intensive operations inNew York, and we urge the administration and Legislature to work with busines s to adopt a long term economic developmenrt power program.
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