A service company from Bethany will receive $45,956 in tax abatements to assist in its expansion and relocation to Stafford, announced the Genesee County Economic Development Center today.
Adams Welding and Fabrication is constructing a new 5,616-square-foot building at 5782 Main Road, Stafford (next to the Batavia Party House).
The project will create half a job and retain one.
Adams is investing $175,000 in the project.
The estimated PILOT (payment in lieu of taxes) on the project is $39,131. Adams will also receive a sales tax exemption on construction materials of $5,200 and a mortgage tax exemption of $1,625.
The company is also seeking $25,000 from GCEDC's revolving loan fund.
The direct economic benefit to the community is estimated at $855,000 ($18.61 for every $1 of abatement).