Governor Hochul unveils a sweeping $300 million POWER UP initiative designed to expand New York’s supply of power-ready and shovel-ready industrial locations for advanced manufacturers

New York – New York is taking a decisive step toward reshoring manufacturing and modernizing its industrial footprint with the launch of a sweeping new program called Promote Opportunity with Electric Readiness for Underdeveloped Properties, better known as POWER UP. Governor Kathy Hochul formally introduced the initiative today, framing it as a long-term shift in how the state prepares sites for businesses that rely on large, consistent, and adaptable electric capacity.

The new program—first revealed in the Governor’s 2025 State of the State and later adopted in the FY26 Enacted Budget—carries a price tag of $300 million. Of that amount, $100 million is immediately available in grant funding. While the number itself is striking, state leaders emphasize that the real importance lies in transforming how New York positions itself for industries such as semiconductors, agribusiness, cleantech, and other energy-intensive fields that depend on robust electrical networks from day one.

Governor Hochul captured this idea in a clear, forward-looking message as she announced the program. “Bringing advanced manufacturing businesses that will create good-paying jobs in New York State has been a pillar of my administration, and that requires a proactive strategy that adapts to meet the needs of modern employers,” the Governor said. “As businesses grow and technologies evolve, more power capacity is needed, and POWER UP will help ensure that our sites are shovel-ready and power-ready. We’re investing in our infrastructure today to build New York’s economy of tomorrow.”

A New Approach to Site-Readiness

For years, New York’s efforts to prepare industrial locations have centered on land, permitting, and basic infrastructure. Programs like FAST NY—widely cited as a success—help municipalities make sites construction-ready. FAST NY alone has supported 34 sites with over $283 million in awards, largely across Upstate communities trying to attract advanced industries.

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POWER UP is designed to extend that foundation. Instead of focusing solely on preparing land, the state is moving upstream into the electric grid itself. Many modern manufacturers require enormous amounts of power, sometimes more than current transmission lines or substations can deliver. Without those upgrades in place, even well-prepared land can sit idle for years.

The new grants aim to fill that gap. By expanding electrical capacity early—well before a company selects a site—New York hopes to compress long development timelines and offer businesses the certainty they need when choosing where to build. The strategy is also expected to increase the state’s competitiveness in national site-selection processes that often move quickly.

Coordination Across State Agencies

Administration of POWER UP falls to Empire State Development (ESD), working closely with the Department of Public Service (DPS). Together, the agencies will identify locations best positioned to host advanced manufacturing operations and ensure that electric improvements align with regional utility planning.

Empire State Development President, CEO and Commissioner Hope Knight underscored how the program fits into the state’s broader economic strategy. “As New York works to attract high-growth industries and advanced manufacturers to the state, our strategic investments are creating shovel-ready sites. The POWER UP program will complement those efforts by awarding grants to prepare sites for the increased power needs of these businesses. Under Governor Hochul’s leadership, New York continues to build for the future, and POWER UP will further advance the state’s efforts to attract these dynamic industries and generate new economic growth.”

For DPS, the initiative represents a way to support large-scale infrastructure needs while avoiding cost burdens on consumers. Public Service Commission Chair Rory M. Christian emphasized this point, saying, “With utility affordability a major focus for the Commission, Governor Hochul’s innovative POWER UP program will accelerate large capital investments in energy infrastructure that are needed for new business customers without burdening utility ratepayers. We are proud to partner with ESD to make the Governor’s vision a reality.”

Eligibility and Next Steps for Applicants

Beginning today, interested applicants can submit a Letter of Intent to Apply, marking the first stage of the application process. Those who plan to pursue funding will have access to a webinar scheduled for Wednesday, December 10 at 10:00 a.m., with the program’s Consolidated Funding Application opening right after the session.

Eligibility for the grants spans a range of local economic development bodies, including utilities, municipalities, industrial development agencies, local development corporations, and municipally designated economic development groups. However, several criteria must be met before a site can be considered.

Applicants must either control the property or secure written approval from the entity that owns it. Sites must consist of at least 40 contiguous developable acres, ensuring there is enough space to support large-scale industrial operations. Additionally, the state will look for evidence that applicants have made significant progress on preliminary engineering, feasibility assessments, and early coordination with electric utility providers. The intention is to fund locations already moving toward readiness—not those still in very early planning.

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State officials say these requirements reflect the seriousness of preparing for next-generation manufacturing. The goal is to create an inventory of sites that are not only attractive to companies but are free from the long delays that often arise from overloaded or outdated electrical systems.

Building Momentum for New York’s Manufacturing Future

The launch of POWER UP marks another step in New York’s broader push to rebuild its manufacturing sector, strengthen regional economies, and attract employers promising long-term, well-paid jobs. In many Upstate communities—where aging industrial infrastructure has long limited opportunities—the program could accelerate long-awaited redevelopment.

By modernizing sites before private investment arrives, leaders hope to give companies fewer barriers and clearer signals that New York is ready to meet the power demands of a technology-driven economy.