Last week, Gov. Cuomo announced an agreement with legislative leaders to create a development fund to support economic activity in the North Country. Under the agreement, the net earnings from the market sale of unutilized hydropower from the New York Power Authority (NYPA) – approximately $2 million per year — will be used to spur economic development in St. Lawrence County.
Gov. Cuomo said:
“This agreement adds another dimension to our efforts to spur economic development and growth in the North Country. By tapping into the region’s supply of unutilized hydropower, we can jumpstart the economy in the North Country, invest in local businesses and help create jobs and new opportunities for New Yorkers in St. Lawrence County. I want to thank the leaders of the legislature as well as the many local leaders who came together to support this important proposal.”
This is great news for economic development and growth in the North Country.