NEW YORK, Nov. 27, 2001 – A report prepared for trustees of the New York Power Authority Tuesday revealed that more than 200 companies and not-for profit organizations receiving electricity through the Power for Jobs program collectively exceed their employment commitments by 8,396 positions.
“Ever since Governor Pataki first proposed the Power for Jobs program, it has regularly exceeded the most optimistic goals we’ve set for it,” said Joseph J. Seymour, chairman and chief executive officer of the Power Authority. “We conduct these quarterly audits to make sure that those receiving the lower-cost power are actually providing the jobs that they’ve promised. We have consistently found that the total number of jobs far exceeds the promises.”
The quarterly audit covers 202 companies that began receiving power during the fourth quarters of 1998 and 1999 and the first quarters of 1998, 1999 and 2000. Of these, 17 were below the 90 percent threshold for retaining full power allocations. After detailed examinations of the companies, the staff recommended that the job commitment for one company be reduced and the other 16 be unchanged because improved conditions indicate that most, if not all, will meet commitments before the next audit.
Six other customers did not report their job levels: one withdrew from the program; four went out of business and one filed for chapter 11 bankruptcy. The staff recommended that these contracts be terminated.
The trustees approved all staff recommendations.