ALBANY — Power Plug electrical company’s $125 million manufacturing facility has been completed in Slingerlands, Gov. Kathy Hochul announced on Thursday.
The 350,000-square-foot plant at the Vista Technology Campus will allow the firm to expand production of its GenDrive fuel cell systems, which are used to power electric motors.
“New York’s investment in Plug is an investment in the state’s sustainable future,” Hochul said in a press release. “This new manufacturing facility is creating good, green jobs in the Capital Region and beyond — helping communities around the world break their dependence on fossil fuels by replacing them with cutting-edge green hydrogen technology.”
The company has committed to creating more than 1,600 jobs and retaining another 701 in Albany County with the opening of the facility. The state’s Empire State Development (ESD) has agreed to provide up to $45 million in performance-based Green Excelsior Jobs Tax Credits to encourage the creation and retention of the jobs.
“Almost exactly seven years ago, I stood on the factory floor of Plug Power’s Latham facility, and CEO Andy Marsh promised me that if I could deliver the incentives they needed like the Investment Tax Credit, that we would be cutting ribbons for NY jobs in the decade — and today a promise made becomes a promise kept!,” U.S. Sen. Chuck Schumer said in a press release. “I applaud Plug for this major investment that will cement the Capital Region’s place as a global hub for innovation in clean energy, and thank Governor Hochul for her steadfast partnership which has helped the company grow.”
The project is supported by a 1,310-kilowatt, low-cost power allocation through the ReCharge NY program approved by the New York Power Authority Board of Trustees in March.
“I’ve had the great pleasure of representing and partnering with Plug for many years, and today’s announcement and the completion of this new facility is a perfect example of how much good can happen when every level of government aligns its incentives to support cutting-edge, innovative economic development opportunities,” U.S. Rep. Paul Tonko, D-Amsterdam, said in a release. “The Vista Tech Park facility is going to result in several hundreds of new, well-paying clean energy jobs — on top of the over eleven hundred Plug employees already in the Capital Region. I look forward to seeing how much more will come from our collective embrace of the transition to a clean — and hydrogen — energy economy.”