Yahoo isn’t the only regional company that will benefit from low-cost hydropower.
The Internet company will receive an allocation of 7.2 megawatts for its customer call center and the expansion of a Lockport data center that, together, will create at least 115 jobs.
But four other companies will join Yahoo in receiving a total of about 13 megawatts from the Niagara Power Project:
• SiGNa Chemistry, for a new manufacturing facility in Wheatfield.
• Aurubis Buffalo.
• International Imaging Materials, Amherst.
• RubberForm Recycled Products, Lockport.
“Low-cost hydropower is one of the most effective economic development tools that we have to create jobs in New York,” Gov. Andrew Cuomo said in a statement, adding that the allocations – under a seven-year contract – will help create more than 200 jobs and support capital expansion projects and hundreds of construction jobs.
“Western New York’s economy is uniquely positioned to benefit from hydropower fueled by Niagara Falls,” Rep. Brian Higgins said. “This is just the latest example of how jobs, too, can flow from water when we take advantage of the resources that are naturally ours.”
SiGNa Chemistry, which offers “green” chemical products used by oil-recovery and fuel-cell industries, will receive 2.5 megawatts, leading, initially, to 50 new jobs.
Aurubis Buffalo will get 2.8 megawatts to boost production at the company’s copper and brass rolling mill. The allocation will support the purchase of a $9.5 million furnace and the $2.4 million revival of an idled rolling mill. The combined improvements are expected to add 35 jobs to its work force of 675.
International Imaging Materials, which manufactures thermal transfer ribbons, direct thermal films, barcode ribbons and fluid inks for the printing industry, is in line for 200 kilowatts toward an equipment purchase totaling $2 million.
Rubberform Recycled Products, which uses recycled rubber to make products for the traffic safety, home improvement and shipping and marine products industries, will receive 200 kilowatts and a $250,000 grant from Empire State Development to support a $500,000 expansion. A dozen jobs are expected to be added, nearly doubling the workforce.
Yahoo also received up to $2 million in Excelsior tax credits from Empire State Development over 10 years as further incentive for its expansion.
The company will give $500,000 each year to the Community Foundation for Greater Buffalo, which administers charitable funds for Western New York. The funding will be used to advance priority economic development strategies identified by the Western New York Regional Economic Development Council.