A new state program promises to supercharge New York’s industrial future — but it’s powering up with a budget that barely scratches the surface.
On Monday, Governor Kathy Hochul launched the “POWER UP” initiative, a $300 million grant program aimed at getting industrial sites across the state “power-ready” and “shovel-ready” for next-generation manufacturers, including semiconductor, cleantech, and agribusiness companies.
The plan sounds ambitious. The governor’s team says it will speed up development, draw major employers, and support job growth. But here’s the issue: $300 million — including only $100 million in initial grants — is a drop in the bucket compared to what’s actually needed to fix New York’s aging, overburdened grid.
A flashy name, a familiar problem
The full name of the program — “Promote Opportunity with Electric Readiness for Underdeveloped Properties” — suggests a sweeping solution. But the reality on the ground is far messier.
Across the state, utilities are already struggling to keep up with growing demand. Renewable energy projects are hitting bottlenecks. Developers regularly cite grid constraints as one of the biggest hurdles to breaking ground.
And it’s not just isolated incidents — it’s a systemic problem. In upstate regions where Hochul hopes to lure advanced manufacturers, there simply isn’t enough available power capacity. Even New York’s own energy planners have warned that serious transmission upgrades will cost billions.
So, while POWER UP might help a few lucky sites upgrade their power lines or transformers, it won’t come close to addressing the deeper infrastructure gap.
A familiar formula — with a new spin
If the format feels familiar, that’s because it is. POWER UP builds on the state’s previous FAST NY program, which has awarded $283 million to prep 34 industrial sites since its launch. That’s nearly the same amount as this new program — and it still hasn’t fixed the grid.
This time, the state says it’s focusing specifically on electric and transmission needs. Empire State Development will oversee the program, working with the Department of Public Service to identify “strongly positioned” sites and bundle in clean energy sources.
But key eligibility requirements — like owning or controlling at least 40 contiguous acres and having early feasibility studies completed — suggest this won’t be a fast fix for communities starting from scratch.
Is this more show than substance?
The governor’s office is framing POWER UP as a bold shift. “We’re investing in our infrastructure today to build New York’s economy of tomorrow,” Hochul said in the announcement.
But critics could easily see it as a high-profile gesture meant to check a political box, without grappling with the massive cost and complexity of modernizing New York’s grid.
Because preparing a handful of industrial sites is one thing. Rewiring an entire state to meet future energy demands? That’s something else entirely — and $300 million isn’t going to cut it.
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