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Graphic Controls Corp. is getting 510 kilowatts of cheap hydropower from the New York Power Authority as part of a $950,000 project to upgrade the Buffalo manufacturer’s Exchange Street factory.

The project to upgrade the plant’s electrical system, production equipment and infrastructure, is expected to create 35 new jobs at the company, which now employs 280 workers, NYPA officials said Tuesday.

The Power Authority also awarded 130 kilowatts of low-cost hydropower to Ingram Micro for its $11 million project to expand its Amherst office that is expected to create 90 new jobs within the next two years.

The cheap electricity, which will cost less than half as much as the current wholesale price of power, is part of a broader incentive package for Ingram Micro that also included nearly $1 million in tax breaks that were approved last summer by the Amherst Industrial Development Agency.

Both companies received seven-year contracts for their allocations of low-cost power.