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 its board meeting on Thursday, July 11.
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 would add to the company’s existing location in the city of Batavia where the company has been headquartered since 1942.
The $17.6 million proposed investment includes the construction of a 28,867 sq. ft. expansion intended to reduce design and manufacturing costs and improve shipping capabilities. The project would create 24 new full-time equivalent (FTE) positions while retaining 367 current FTEs.
The initial resolution requested sales tax exemptions estimated at $383,546 and a property tax abatement estimated at $298,427 based on an incremental increase in assessed value totaling the proposed financial agreements to approximately $681,973.
For every $1 of public benefit, Graham is investing $42 into the local economy resulting in a local economic impact of $19.5 million in wages and tax revenue. A public hearing for the proposed project agreements is scheduled to be held on Wednesday, July 17 at 3:30 p.m. at the Batavia City Hall.
