Press Release:
The Genesee County Economic Development Center (GCEDC) board of directors will consider 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 requests 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.
If the project application is accepted, a public hearing will be scheduled on the proposed project agreement in the city of Batavia.
The July 11 GCEDC board meeting will be held at 4 p.m. at the MedTech Center’s Innovation Zone, 99 MedTech Drive, Batavia. Meeting materials and links to a live stream/on-demand recording of the meeting is available at www.gcedc.com.
