New York Gov. Kathy Hochul announced the launch of the state’s new initiative to create power-ready and shovel-ready industrial sites. The Promote Opportunity with Electric Readiness for Underdeveloped Properties (POWER UP) program will position New York to attract high-growth industries by proactively extending the power and utilities required by next-generation businesses.
Through POWER UP, New York will establish an inventory for turn-key industrial sites. This will further secure the state’s leadership role in reshoring manufacturing and create good-paying jobs. The introduction of the new program represents a fundamental shift in New York’s approach to site-readiness by proactively preparing sires for the energy demands of next-generation manufacturers.
The program was first introduced in the Governor’s 2025 State of the State address and was partially funded with an initial $100 million in grant funding in the FY26 Enacted Budget. A further allocation of funding up to $300 million will be available for capital grant funding, subject to additional appropriation. It will offer grants for electrical and transmission infrastructure at industrial sites for key sectors like semiconductors, agribusinesses, and cleantech.
The POWER UP program builds upon the continued success of FAST NY, which awards grants to municipalities across the state to prepare industrial sites. Since its implementation, FAST NY has awarded more than $283 million to 34 sites. POWER UP will focus on developing electrical infrastructure at key industrial sites by helping to build a suite of locations that can support advanced manufacturers looking to move to the state. The goal of the program is to take years off site development timelines to allow the state to offer industrial sites that are both power and shovel ready.
The funding will be administered by Empire State Development (ESD) in consultation with the Department of Public Service (DPS). ESD will work to ensure that the fund assists sites strongly positioned to host advanced manufacturing. DPS will provide expertise in utility capital planning and identify opportunities for project sites that bundle clean energy resources.
Applications are open for interested parties to submit a Letter of Intent to apply as the first step of the process. Eligible applicants include industrial development agencies, local development corporations, municipalities, municipally designed economic development organizations, and utilities. Applicants must have ownership or control of the site or provide written consent from the ownership entity. Sites must be at least 40 contiguous developable acres and demonstrate a high-level of readiness with respect to preliminary engineering, feasibility studies, and engagement with electric utility providers. Further details regarding the program, application, and eligibility can be found here.
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