Albany Update
State Earmarks $300 Million for Program To Create ‘Shovel Ready’ Industrial Sites
ALBANY—New York State announced the launch of New York’s new Promote Opportunity with Electric Readiness for Underdeveloped Properties (POWER UP) program that will offer grants for electrical and transmission infrastructure at industrial sites for key sectors like semiconductors, agribusiness and cleantech.
Through the program, New York will establish an inventory of turn-key industrial sites, further securing the state’s leadership role in reshoring manufacturing. The $300-million initiative, released recently, was introduced in early 2025 and was included in the FY26 Enacted Budget with an initial $100 million in grant funding. State officials noted that the program’s launch represents a fundamental shift in the state’s approach to site-readiness by proactively preparing sites for the energy demands of next-generation manufacturers.
“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,” Gov. Hochul 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.”
POWER UP will build upon the continued success of FAST NY, which awards grants to municipalities in New York to prepare industrial sites. Since its inception, FAST NY has awarded more than $283 million to 34 sites throughout Upstate New York. POWER UP will focus on developing electrical infrastructure at key industrial sites, helping to build a suite of locations that can support advanced manufacturers looking to move to New York.
The program will take years off site development timelines and allow the state to offer industrial sites that are both power-ready and shovel-ready. With this inventory of industrial sites, New York State will continue to bring back manufacturing and build on its momentum of creating new good-paying jobs and fostering economic growth.
Empire State Development will administer POWER UP in consultation with the Department of Public Service. ESD will work to ensure that the fund assists sites strongly positioned to host advanced manufacturing, and DPS will provide expertise in utility capital planning and identify opportunities for project sites that bundle clean energy resources.
Empire State Development President, CEO and Commissioner Hope Knight said, “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.”
Applicants can now submit a Letter of Intent to Apply—the first step in the program’s application process. A webinar for potential applicants was scheduled on Wed., Dec. 10, and the program’s Consolidated Funding Application will open immediately following.
Eligible applicants include industrial development agencies, local development corporations, municipalities, municipally designated 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.
Published: December 11, 2025