The State of New York will make a USD 500 million investment in offshore wind, hold a new auction in 2022, and explore its floating wind potential, New York Governor Kathy Hochul revealed in her 2022 State of the State.

New York will invest up to USD 500 million in the ports, manufacturing, and supply chain infrastructure needed to advance its offshore wind industry, leveraging private capital to deliver more than USD 2 billion in economic activity while creating more than 2,000 good-paying green jobs.