Press Release:
The Genesee County Economic Development Center (GCEDC) board of directors advanced an initial resolution for Graham Corporation’s proposed new commercial production facility at the agency’s board meeting on Thursday, December 7th, 2023.
Graham Corporation is a global leader in the design and manufacture of mission critical fluid, power, heat transfer, and vacuum technologies for the defense, space, energy, and process industries. The project will add to the company’s existing location in the city of Batavia where it has been headquartered since 1942.
The $13.9 million proposed investment includes the construction of an 18,900 sq. ft. expansion intended to reduce design and manufacturing costs and improve shipping capabilities for the organization’s US defense sector. The project will create 24 new full-time equivalent (FTE) positions while retaining 340 FTEs.
Graham Corporation is seeking sales tax exemptions estimated at $206,400 and a property tax abatement estimated at $197,826 based on an incremental increase in assessed value totaling the proposed financial agreements to approximately $404,226. For every $1 of public benefit, Graham is investing $68 into the local economy resulting in a local economic impact of $19.44 million in future wages and tax revenue.
A public hearing for the proposed project agreements will be scheduled in the city of Batavia.
