Madelaine’s In Line For A Major Power Boost
Assemblyman Phil Goldfeder announced that the more than 60-yearold Madelaine Chocolate Company will receive low-cost power through the ReCharge New York initiative. ReCharge New York is a major statewide initiative for retaining and creating jobs and spurring capital investments by making low cost power available to New York State companies.
“Recharge NY will provide Madelaine Chocolate Company with affordable energy, said Assemblyman Goldfeder. “This low cost energy will allow them to invest in their company and free up money to both create and retain jobs that will provide a much needed lift to our local economy.”
The New York Power Authority (NYPA) Board of Trustees approved the allocations totaling nearly 600 megawatts to 517 enterprises across New York in return for their retention of thousands of jobs and billions of dollars in capital investments. The power will be available July 1, as provided for under the RNY legislation signed into law last year by the governor.
The Madelaine Chocolate Company is slated to receive a total of more than 600kW of low-cost power, helping to create and retain 400 jobs in the Rockaways by saving the company money over the long term.
“Thank you to Assemblyman Goldfeder, for his continued wholehearted and resounding support of our company, in our efforts to remain a competitive force in our industry,” said Norman Gold, VP of the Madelaine Chocolate Company. “We are anxious to maintain our presence here in Rockaway Beach and contribute to the overall financial health of our neighborhood and our employees.”
The enactment of the ReCharge New York legislation was a major achievement in New York State’s efforts to partner with businesses across the state in the harnessing of its lower-cost power for economic development. Over recent years, a number of efforts had been undertaken in this direction only to fall short. ReCharge New York replaced two existing initiatives — the Power for Jobs (PFJ) and Energy Cost Savings Benefit (ECSB) Programs — which statutorily expire on June 30. Unlike ReCharge New York, those two programs provided for only short-term allocations, limiting their effectiveness as an economic development tool.
“With our economy still struggling and so many people looking for work, it is crucial that we do everything we can to create and retain jobs in the Rockaways,” Goldfeder said. “Creating jobs and supporting local businesses is a priority and I will continue to work with Governor Cuomo to cut red tape, streamline government, and make our state more business friendly.”