New York is offering low-cost electricity to 26 companies that have agreed to create or retain jobs.
Gov. Andrew Cuomo announced the latest round of energy subsidies on Monday. The 26 companies — along with three non-profit organizations — are expected to use the low-cost power to support more than 3,000 jobs.
The subsidies are part of a state program called ReCharge NY that seeks to use low-cost power as an economic development tool. Companies that receive the help must agree to create or retain jobs.
About half of the power comes from hydroelectric power plants, which produce power more cheaply than other sources.