ALBANY -  Anchor Glass Container Corp., a Southern Tier glass container maker, is receiving 6.6 megawatts in low-cost electricity through the ReCharge NY program that will allow the company to retain 340 jobs and invest $37.2 million in its facility.

Representatives of the New York Power Authority and Anchor Glass were joined on Tuesday by local elected and economic development officials at the company's 100-year-old glass container production facility in Elmira Hills in Chemung County.

"Electricity costs are an important factor that businesses take into account when looking to expand and make new investments," Governor Andrew Cuomo said. "The ReCharge NY program has given businesses and other enterprises across New York long-term certainty of stable electricity rates so they have the confidence they need to retain and create jobs. These new investments at Anchor Glass demonstrate the state's new approach to improve our business climate, create jobs, and grow the economy."

The Governor launched ReCharge NY (RNY) to help businesses and other enterprises lower their operating costs and spur economic development. The RNY program offers up to seven-year contracts for lower-cost power, and reserves at least 350 MW for upstate businesses and institutions, 200 MW for business attraction and expansion, as well as up to 100 MW for not-for-profit organizations.

RNY has allocated low-cost power to more than 40 businesses in the Southern Tier that have committed to retaining more than 33,000 jobs. For a complete list of the RNY recipients in the region, visit: www.nypa.gov/RechargeNY/120626/Souther%20Tier.pdf