Richard Kessel, president and chief executive officer of the New York Power Authority, visited the company's Rome plant Friday to announce up to $700,000 in power authority funding to help Owl Wire retain 172 jobs. The grant came from the authority's Industrial Incentive Award programAnd where did the "Industrial Incentive Award program" get its funds from? Our electric rates (among the highest in the country)! And where did the Power Authority get its power to do this from? Our State Government..
While I suppose we should be happy that a local firm is getting a grant to keep local jobs in place, what about all the other businesses who are struggling to pay NY's outrageous electric bills (becoming more outrageous as former Gov Patacki's "Regional Greenhouse Gas Initiative" "cap-and-tax" scheme kicks into high gear)? What about US . . . and our own residential electric bills?
The question that needs to be answered: Why are Upstate NY's electric rates so much higher than other states who compete with us for jobs? Especially so with all the hydropower we have on our door steps . . .
If you are a regular reader of Fault Lines, you know the answer to that question.
When we have to "redistribute the wealth" from working families to make electricity affordable for the businesses who employ them, can economic collapse be far behind?