Investigative Post teamed with WGRZ to provide insight into Thursday’s announcement by Gov. Andrew Cuomo that the state is investing $225 million to build and equip facilities that will house two fledging clean energy firms.
Dan Telvock provided background on the two companies, both based in California. They have small work forces and are still searching for profitability, but are nevertheless regarded as innovation leaders in their industries. The deal with the state obligates the firms to invest $1.5 billion and operate in Buffalo for at least 10 years.
Jim Heaney interviewed Alain Kaloyeros, the chief architect of the deal, and shared his impressions. While the governor announced 850 jobs, up to 5,000 jobs are projected over 10 years. Heaney also learned that the two companies coming to town will receive no subsidies beyond facilities and equipment – considerable, given their price tag. But Heaney reports that other companies that eventually set up shop will be eligible for huge subsidies through the Start Up New York program. Heaney told WGRZ anchor Maryalice Demler that while the project represents progress, it is not a “game changer” as Cuomo contends.