As the Inflation Reduction Act supercharges efforts to combat climate change, it’s also rekindling economies where people have felt forgotten.
Eduardo Munoz Alvarez/AP Photo
In an interview, Molinaro, who is one of Democrats’ top targets in 2024, minimized the importance of his vote, saying the measure was mostly a messaging bill ahead of the debt ceiling fight with Democrats this spring. He insists he would fight to keep the IRA clean energy subsidies intact in the future and that enough Republicans agree.
“When you grow up living along the Hudson River and seeing businesses contaminate and leave, you grow up understanding the value of protecting our natural resources, and building the next generation of industry in a sustainable way,” he said. “I embraced that well before most folks in elected office in Hudson Valley.”
But Democratic Rep. Pat Ryan, who represents the neighboring 18th Congressional District, had no sympathy for Molinaro’s political predicament.
“You can’t sit there passively,” said Ryan, whose grandfather worked for IBM for 36 years before a restructuring shuttered the site. “We need people to champion [IRA tax credits] and block terrible public policy [to repeal it] at exactly the wrong moment.”
Ryan, who was Ulster County executive before being elected to Congress in 2022, and other local officials had begun taking action to revitalize the site. But the passage of the IRA was “like jet fuel,” Ryan said.
New York has also offered a grant of up to $9 million to Zinc8 to locate in the state, and the company is receiving a $10 million bond from the Ulster County Industrial Development Agency to help acquire machinery and equipment.
Local officials are cognizant of challenges that remain to ensure Zinc8’s success in Ulster County, which has seen previous efforts to redevelop the former IBM site fail, including a hollowed out workforce, which they are seeking to bolster through training programs with local schools and community groups.
“We literally don’t have the trained workers,” said Ulster County Executive Jen Metzger, a Democrat. “But now we have this enormous opportunity to turn it into a real hub for the new green economy.”
Grant Schwab contributed to this report.
