New York Launches $300 Million POWER UP Program to Prepare Industrial Sites for Advanced Manufacturing

New York Governor Kathy Hochul on Nov. 26 announced the launch of the Promote Opportunity with Electric Readiness for Underdeveloped Properties program, a $300 million initiative designed to accelerate industrial development by preparing sites with modern electrical and transmission infrastructure. The program aims to strengthen New York’s position in advanced manufacturing by creating an inventory of turn-key, power-ready sites suited for sectors such as semiconductors, agribusiness and clean technology.

The initiative marks a strategic shift in New York’s approach to site development. Rather than waiting for manufacturers to identify electrical shortfalls, the state intends to bring forward locations that already meet the energy requirements of modern industrial operations. Governor Hochul first introduced the program in her 2025 State of the State address, and later included $100 million in grant funding in the fiscal year 2026 budget. Regulators intend to reduce development timelines and expand the state’s competitiveness in reshoring efforts and job creation by proactively equipping industrial sites with the required electrical capacity.

The program builds on the FAST NY initiative, which has distributed more than $283 million to 34 locations across Upstate New York to support early-stage site work. POWER UP will target the electrical infrastructure that determines whether a site can support advanced manufacturing, while FAST NY focuses on readiness activities such as grading and permitting. Officials expect the program to enhance the state’s ability to secure investments from companies seeking reliable power access for high-demand operations.

Empire State Development will administer the initiative in coordination with the New York State Department of Public Service, which will guide utility planning and evaluate opportunities to integrate clean energy resources at eligible locations. Beginning Nov. 26, applicants can submit a letter of intent to take part in the program. A webinar for potential applicants will take place on Dec. 10, followed by the opening of the consolidated funding application. Eligible entities include industrial development agencies, municipal governments, utilities and local economic development organizations. Sites must cover at least 40 contiguous acres and demonstrate readiness through early engineering work, feasibility assessments and coordination with electric utilities.

The program aligns with New York’s broader strategy to expand its industrial base and prepare locations for the rising electricity needs of next-generation manufacturers.