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The consortium this week announced plans to move into a 300,000-square-foot space in Building 25 at TechCity, the former IBM plant in the town of Ulster, and initially create 300-500 jobs. Hinchey, D-Hurley, said the project could create "upwards of thousands of jobs in the region within the next several years."
Statewide, the consortium "has the potential to create tens of thousands of new jobs over the next decade," Hinchey said.
"The potential for this solar consortium is virtually unlimited," Hinchey said in a prepared statement. "The Solar Energy Consortium will revitalize and strengthen New York's economy" and "make our state the leader in renewable energy research and development."
David Donaldson, chairman of the Ulster County Legislature, said: "We have the highest consumption of energy in the entire country 90 miles away from us (in New York City), so TechCity makes a lot of sense" to house The Solar Energy Consortium.
But Donaldson, D-Kingston, also expressed some reservations.
"It all depends how the chips fall. This is a research and development project. We're trying to get all different aspects of solar research in one place. ... I'm cautiously optimistic because there are a lot of t's to cross and i's to dot."
TechCity comprises more than 2 million square feet of manufacturing and office space but remains about two-thirds empty nearly a decade after downstate developer Alan Ginsberg bought the site from IBM.
The federal funding Hinchey requested for the consortium would be part of an Energy and Water Appropriations bill that would be included in the 2008 federal budget. Initial approval of the funding was possible as early as Tuesday evening, the congressman said.
"I'm very pleased to have secured the support of my colleagues in Congress for these funds," Hinchey said.
Calling on the state government to also fund the project, Hinchey said: "It is absolutely imperative that our leaders in Albany step up and deliver critical financial support."
Lance Matteson, president of the Ulster County Development Corp., agreed.
"The state should step up ... because (project coordinators Vincent Cozzolino and Frank Falatyn) are people with proven track records," Matteson said. "If you have a track record, that takes a lot of the risk out of it."
Cozzolino has more than 30 years of experience in the high-tech field, largely in semiconductor business, and has served as a vice president at IBM. Falatyn also has a background in semiconductors and was awarded the 2005 New York Small Business Person of the Year Award.
Donaldson said he was "99 percent sure" the federal funding for the project would come through, but he noted that even if the money is approved, it would not be available until March of 2008. In the meantime, Donaldson and others involved with the project plan to seek state aid and private funding.
"We're trying to attract more state money," Donaldson said. "But you have to have something to show first before they give you something else."
Matteson said The Solar Energy Consortium is in discussions with a number of companies that have significant research and development budgets. "The private capital is ready to flow," he said.
Hinchey called the consortium "a win for everyone" because it will benefit the environment, help the local and state economies and create jobs.
Donaldson said the consortium will create "significant-paying jobs" and that if the project succeeds, it could serve to attract other businesses.
"It will serve as an anchor in the end," he said.
Hinchey described the venture as a "not-for-profit solar consortium driven by industry - in collaboration with public, private, academic, environmental, labor and economic development partners - with the goal of creating fully integrated solar-powered systems that will revolutionize the way in which New Yorkers and all Americans receive their energy."
"Researchers and scientists from public and private universities across New York state will be brought together (at the local facility) to collaborate on developing market-focused solar products," Hinchey said.
New York state recently launched an initiative to increase its solar capacity from 12 megawatts to 2,000 by the year 2017.
Hinchey said The Solar Energy Consortium "will serve as the base for the solar power industry in New York."
