GCEDC

Press release:

Batavia and Genesee County have continued their streak of being recognized as one of the nation’s top micropolitan regions for business growth, as the area was ranked third in Site Selection magazine’s annual rankings.

The ranking of “Top Micropolitans” is based on cities of 10,000 to 50,000 people which cover at least one county. It is the 16th consecutive year Batavia and Genesee County have been recognized and the fifth consecutive year ranked in the top five.

The area received its highest ranking ever in 2017 as it climbed all the way to number two among the annual survey of micropolitans across the country. 

“We are thrilled that the hard work that Genesee County and our partners in the public and private sector continues to be recognized as making Batavia-Genesee County the top micropolitan for business in New York,” said Steve Hyde, president and CEO of the Genesee County Economic development Center.

“Our region is focused on building the shovel-ready sites, active business attraction, expansion and retention, and workforce talent development to continue our economic growth.”

Site Selection magazine recognized 13 of the GCEDC’s project “wins” in 2018 across several stages of project development. The GCEDC closed on 16 projects in 2018, securing $33.7 million in capital investment, 99 new jobs, and more than 189,000 square feet of new construction in Genesee County.

Since 2003, the GCEDC has provided similar assistance and incentives for 465 projects which have generated $1.3 billion in capital investment and the creation and/or retention of approximately 4,627 jobs.

The advanced manufacturing plant that could have been in Genesee County with a little more political support will open soon in Cyberjaya, Malaysia.

Bedford, Mass.-based 1366 Technologies has been building a plant with the support of one of the companies that have invested in the startup, Hanwha Q CELLS, and announced this week the plant will open soon.

Until this week, 1366 had been unwilling to release the location of its new factory.

It will be the world's first direct wafer factory. The direct wafer process was invented at MIT and patented by 1366. It makes solar wafers much like glass is made, with silicon being poured on a flat surface. The company has claimed the process is more energy efficient and produces less waste.

In 2015, Gov. Andrew Cuomo came to Batavia to announce 1366 as the first tech company to agree to open a plant in STAMP, the advanced manufacturing project in Alabama, that would bring 1,000 mostly high-paying jobs to Genesee County.

The plan was for 1366 to invest $700 million in the plant. GCEDC and Empire State Development and other state agencies would provide $53 million in tax abatements and grants, based on certain incentives being met over 10 years.

The Department of Energy, in 2009, also promised 1366 a $150 million loan guarantee based on 1366 meeting two criteria: selecting a site for their factory and raising $100 million in private investment.

That deal fell apart on claims by Department of Energy officials that 1366 failed to select a site for its factory and had failed to raise the $100 million.  

The company had raised $80 million in private equity but the DOE would not renegotiate the terms of the loan.

Rep. Chris Collins, based on a conversation with a member of his staff, was not hugely supportive of his staff and it's not clear he did much to help the process along. After 1366 announced plans to pull out of the STAMP deal, Collins questioned the company's credibility. He said at the time that 1366's announcement was evidence that the company was never serious about building a plant in Genesee County.

Based on the expectation that 1366 was coming to STAMP, with the help of Sen. Michael Ranzenhofer, the state released $33 million for development of shovel-ready infrastructure at the Alabama location. 

Since 1366 pulled out of the deal nearly a year ago, GCEDC Steve Hyde has said on multiple occasions that GCEDC is talking with several prospective tenants for STAMP but so far no new deals have been announced. 

As of May 1366 and the DOE were locked in a dispute over ownership of patents because of the assistance the DOE had given to 1366 early in the process of developing its technology. The Batavian is not aware of any change in the status of that dispute.

UPDATE 4:16 p.m.: In this story, and previously, we reported that 1366 withdrew from plans to build in STAMP in March. Shortly after this story published we received documents, in response to a Freedom of Information Act request, from the Department of Energy, that revealed that STAMP informed DOE of its request to withdraw its loan application on Jan. 31, 2018.  There was no other new information in the set of documents.

For all of The Batavian's previous coverage of 1366, click here.

Top photo: Frank van Mierlo, CEO, 1366 Technologies, and Gov. Andrew Cuomo at the October 2015 announcement at GCC of 1366's plans to build a plant at STAMP.

Photo released by 1366 of its nearly completed plant in Cyberjaya, Malaysia.

Press release:

The Genesee County Economic Development Center (GCEDC) has announced that the Genesee Valley Educational Partnership (GVEP) will receive the Economic Development Partner of the Year award at the agency’s annual business meeting, which takes place March 8 at Batavia Downs.

GVEP serves more than 24,000 students in 22 school districts in  Genesee, Livingston, Steuben and Wyoming counties. The Partnership offers a wide range of programs and services including career and technical education, special education, alternative education, instructional and technical support services, and management services.

“The Genesee Valley Educational Partnership has been instrumental in advancing workforce development initiatives in Genesee County and across the GLOW region,” said President and CEO of GCEDC Steve Hyde. “We look forward to celebrating the Partnership’s tremendous achievements as we continue to invest in the youth of Genesee County.”

GVEP played an instrumental role in bringing a new program called Edge Factor into Genesee County schools. Edge Factor provides a high-tech Web platform and creates high-end videos for students, parents, teachers, counselors and businesses that help introduce the stakeholders across the county to STEM (Science, Technology, Engineering and Math) career pathways that align with the type of jobs currently in demand across the region.

“The Genesee Valley Educational Partnership (the Partnership) is honored to be selected as the Genesee County Economic Development Center’s 2019 Partner of the Year,” said District Superintendent for The Genesee Valley Educational Partnership Kevin MacDonald.

“We truly appreciate our partnership with the GCEDC as we create and develop new programs and services that are aligned to meet the needs of our communities, businesses and workforce. We are pleased to support the introduction of Edge Factor as a local resource for students to explore regional career prospects.”

The theme of this year’s annual meeting is “Investing in Our Strongest Assets.” The event will emphasize the GCEDC’s workforce talent development and shovel-ready site development achievements, and thank the partners involved in those efforts.

Press release: 

The Genesee County Economic Development Center (GCEDC) voted to accept applications for incentives from Graham Manufacturing and Gateway GS, LLC at the agency’s Feb. 7 board meeting. 

Graham Manufacturing is investing $1.075 million for capital improvements to expand various properties at its campus in the City of Batavia. The company will renovate an existing 8,000 square feet of buildings, including an expansion and renovation of its 4,000-square-foot welding school to meet market demand for welders. 

An existing 4,000-square-foot manufacturing building also will be repurposed and the company will build a new 5,000-square-foot warehouse for storage needs. The capital investments will help Graham retain 291 jobs in the City of Batavia.

The company is seeking sales, mortgage and property tax exemptions totaling approximately $130,000. For every $1 of public benefit offered, Graham Manufacturing is investing and helping generate an economic contribution/ impact of approximately $5.90 into the economy. 

Gateway GS, LLC is investing $450,000 to build out the interior of an existing 27,000-square-foot speculative building the company constructed in 2018 at the Gateway II Corporate Park in Batavia. The project would create five new jobs.

Gateway GS, LLC intends to lease the space where tenants would provide input to the final buildout. Among the various uses that the building offers includes space for warehouse, distribution, light manufacturing, technology and commercial operations.

The company is seeking sales, mortgage and property tax exemptions totaling approximately $206,000. For every $1 of public benefit offered, Gateway GS, LLC is investing and helping generate an economic contribution/ impact of approximately $12.60 into the economy. 

“We are very excited to support two great projects that will have significant economic impacts for Genesee County and Batavia,” said GCEDC Board Chairman Paul Battaglia.

“These projects demonstrate the importance of assisting companies such as Graham Manufacturing that are retaining jobs and in the instance of Gateway GS creating new jobs and hopefully even more new jobs as they bring in tenants to their spec building.”

From the Genesee County Economic Development Center:

The Genesee County Economic Development Center will hold its annual Meeting & Luncheon from 11:30 a.m. to 1:30 p.m. on Friday, March 8, at Batavia Downs Gaming & Hotel in the Paddock Room.

Cost is $25 per person. Batavia Downs is located at 8315 Park Road in Batavia.

To register click, here.

The GCEDC enjoyed another successful year in 2018 and its partners in business, government and education are spending 2019 "Investing in Our Strongest Assets" in growing the local economy.

The center and its staff looks forward to having you join them in celebrating Genesee County's economic progress and showcasing the next steps in their mission at the upcoming Meeting & Luncheon.

The event will start with an informal networking opportunity and the program follows promptly at noon.

Come and learn more about the accomplishments and opportunities the GCEDC is working hard to bring to local communities.

For questions or more information, contact Jim Krencik, director of Marketing & Communications at:  jkrencik@gcedc.com or phone 585-343-4866.

Press release:

The Genesee County Economic Development Center (GCEDC) will consider accepting applications for incentives from Graham Manufacturing and Gateway GS, LLC at the agency’s Feb. 7 board meeting. 

Graham Manufacturing is seeking incentives for a $1.075 million capital investment for various properties at its campus in the City of Batavia. The investment would renovate 8,000 square feet of existing space for expanded workforce training and add 5,000 square feet of new space for the construction of a warehouse. The project would help retain 291 jobs.

Gateway GS, LLC is proposing to invest $450,000 to build out the interior of a spec building the company constructed in 2018 at the Gateway II Corporate Park in Batavia. The project would create five new jobs.

Since each project would receive benefits of more than $100,000 public hearings would be scheduled if the applications for incentives are accepted by the GCEDC Board.

All GCEDC Board meetings are open to the public. Meetings are at 4 p.m. unless noted otherwise and take place at 99 MedTech Drive in Batavia across from Genesee Community College.

Press release:

“The Genesee County Economic Development Center in collaboration with our many public and private sector partners celebrated in bringing Alpina Foods to Genesee County in 2011. Unfortunately, due to the loss of a co-packaging contract, Alpina Foods has made a decision to close its operations at the Genesee Valley Agri-Business Park.

“While this is extremely disappointing news, the GCEDC will be diligent in marketing and promoting the facility to other agricultural businesses. This was similar to our approach in marketing and promoting a former yogurt manufacturing site, which resulted in bringing HP Hood to our community and with it, further economic investment and eventually the hiring of hundreds of employees.

“We are confident that we will have similar success with the Alpina Foods facility in the Genesee Valley Agri-Business Park.

“In the meantime, the GCEDC will work with our public and private sector partners to assist displaced workers in any capacity we can.”

Press release:

The Genesee County Economic Development Center (GCEDC) approved incentives for Churchville Fire Equipment Corp. at the agency’s Jan. 10^th board meeting.

Churchville Fire Equipment Corp. will purchase the land and build a truck setup facility at 10246 Perry Road in the Town of Pavilion. The $900,000 investment by the company, which includes $700,000 to purchase the land, will create three new jobs.

Churchville Fire Equipment Corp. was approved for just over $50,000 in incentives, including sales and mortgage and property tax exemptions. For every one dollar in incentives, the company will be investing $78 into the local economy.

Churchville Fire Equipment Corp. has decades of experience in the fire and emergency services industry, and supplies area fire companies with life-saving equipment.

Press release:

The Genesee County Economic Development Center (GCEDC) will consider accepting an application for incentives from Churchville Fire Equipment Corp. at the agency’s Jan. 10^th board meeting. 

The company is seeking to purchase land and build a truck setup facility in an existing facility on 10246 Perry Road in the Town of Pavillion.  The $900,000 investment by the company would create three new jobs.

Churchville Fire Equipment Corp. is seeking just over $50,000 in incentives, including sales and mortgage and property tax exemptions.

Churchville Fire Equipment Corp. has decades of experience in the fire and emergency services industry, and supplies area fire companies with life-saving equipment.

Press release:

The Genesee County Economic Development Center (GCEDC) approved a revised PILOT -- Payment In Lieu Of Taxes -- for the Ellicott Station development project and incentives for the construction of a spec building at the Gateway II Corporate Park in the Town of Batavia.

The Ellicott Station project in the City of Batavia is a mixed-use brownfield redevelopment project including adaptive reuse and new construction of a blighted property in a key gateway to Downtown Batavia.

The GCEDC Board approved a $22.5 million PILOT for Savarino Companies, the developer of the project, to meet the financing needed for the project’s expanded scope and scale. Incentives are an estimated $3.25 million, including property tax abatements and sales and mortgage tax exemptions.

When fully developed, Ellicott Station will create 68 full-time equivalent jobs and will include the construction of 99,000 square feet of brewery, restaurant and beer garden, a five-story apartment building with 55 apartments and class-A office space.

The Board approved an $18,000 mortgage tax exemption for Gateway GS, LLC for the first of five planned 27,000-square-foot spec buildings the company is building at the Gateway II Corporate Park in the Town of Batavia.

The $2.6 million project, which is being managed by Gallina Development Corporation, has previously received approval for property and sales tax exemptions.

Press release:

The Genesee Gateway Local Development Corporation (GGLDC) approved a revised and consolidated loan and two purchase and sale agreements for parcels in the Gateway II Corporate Park at the corporation’s Nov. 1st board meeting.

Artisinal cheesemaker Yancey’s Fancy requested the revision and consolidation of a January 2017 loan for an expansion project at the company’s Town of Pembroke facility. A $233,449 loan from the GGLDC’s Revolving Loan Fund #2 will close out the fund in its entirety and will be consolidated with two outstanding loans totaling $340,000.

The GGLDC also approved the sale of a 22.2-acre parcel of land at the Gateway II Corporate Park in the Town of Batavia to Mega Properties Inc. which plans to build a 60,000-square-foot facility.  

Wellsville Carpet Town Inc. received approval from the GGLDC to purchase a 2.9-acre parcel of land also located in the Gateway II Corporate Park. Wellsville Carpet Town plans to construct a 15,000- to 20,000-square-foot facility for an outlet center at the site. A purchase and sale agreement set the land price at $45,000 per acre. The company owns Ashley HomeStore, a business also located in the Gateway II Corporate Park.

Both Mega Properties Inc. and Wellsville Carpet Town Inc. may seek incentives from the Genesee County Economic Development Center (GCEDC) in the future.

Press release:

The Board of Directors of the Genesee Gateway Local Development Corporation (GGLDC) passed a budget for fiscal year 2019 at its board meeting on Nov. 1. The budget anticipates cash outflows of approximately $2.5 million.

“The mission of the GGLDC is to foster local economic development by making real estate development investments that prepare sites in Genesee County for new corporate tenants,” said Tom Felton, chairman of the GGLDC.

“The GGLDC also provides strategic investment funding to support the GCEDC’s ongoing economic development and workforce development programs.”

The anticipated 2019 expenditures of the GGLDC include operations and maintenance for the MedTech Centre building, site/corporate park maintenance, an economic development program support grant to the Genesee County Economic Development Center (GCEDC), continuing to support a dedicated workforce development consultant, and professional services. 

Other significant items include: an $890,000 pass-through grant from the New York State Department of Transportation that furthers the ability of the tenants of the Genesee Valley Agri-Business Park (Ag Park) to access rail; $655,000 in debt service payments supporting development at the Ag Park and the MedTech Center campuses; as well as $352,000 in expenses related to wastewater treatment facility upgrades in the Village of Corfu in partnership with the Town of Pembroke, supporting the Buffalo East Technology Park. 

A major source of revenue is rent of $670,000 from the MedTech Centre facility. In addition, $205,000 will be received through the Empire Pipeline Community Benefit Agreement for the final payment of Ag Park bonding. Additional cash receipts will include $202,000 in principal and interest payments from several companies repaying loans made in previous years.

“The GGLDC will continue to actively market our shovel-ready parks in collaboration with the Genesee County Economic Development Center in 2019,” Felton said. “We have been working on a few projects that we anticipate will come to fruition by the end of 2019.”

Press release:

The Genesee County Economic Development Center (GCEDC) will consider approving incentives for two projects at the agency’s Nov. 1st board meeting.

The Ellicott Station Project in the City of Batavia is a mixed-use brownfield redevelopment project including adaptive re-use and new construction of a blighted property in a key gateway to downtown Batavia.

Savarino Companies, the project’s developer, has requested a PILOT agreement for the $22.5 million project be expanded to meet the financing needed for the project’s expanded scope and scale. A revised incentives package is valued at an estimated $3.25 million, including a property tax abatements and sales and mortgage tax exemptions.

The Ellicott Station project is anticipated to create 68 full-time equivalent jobs, the construction of a 99,000-square-foot brewery, including a restaurant and beer garden, and the construction of a five-story apartment building with 55 apartments and class-A office space.

Gateway GS LLC is seeking an $18,000 mortgage tax exemption for the first of five planned 27,000-square-foot spec buildings to be constructed at the Gateway II Corporate Park in the town of Batavia.

The $2.6 million project, which is being done by Gallina Development Corporation, has previously received approval for property and sales tax abatements.

State officials are looking for a more robust commitment from the community before signing off on a low-interest loan to help finance the Ellicott Station project in Batavia; developer Sam Savarino told members of the GCEDC board at their Thursday meeting.

As a result, the GCEDC board will consider an expanded PILOT for the project to match the 30-year loan from Homes and Community Renewal and also take into account the increased cost of the project, from $17.6 million to $21.75 million, as well as the expanded size from 73,100 square feet to 99,111 square feet, and the increase in apartment units from 51 to 55.

The loan is the last piece of the financing puzzle for the project, which has already been delayed by a year because of the complex financing, that includes a $3.5 million investment from Savarino, tax incentives by GCEDC of at least $1.5 million, state grants, and more than $10 million in private investment through a program called the New Market Tax Credits, which allows investors to purchase federal tax credits to help finance projects in distressed urban areas.

As the cost of the project has gone up, so has the cost of financing and transaction costs, which could top $2.5 million.

This is the first project to combine New Market Tax Credits and HCR financing, according to Savarino Companies CFO Milissa Acquard.

The incentives already approved include $897,293 in sales tax savings, $128,232 mortgage tax savings and GCEDC will consider increasing the and $537,398 in property tax savings for the project.

Half of the PILOT payments will be returned to the developer through the “Batavia Pathway to Prosperity” (BP2) program with half going to the relevant taxing jurisdictions (typically, half of the PILOT in a BP2 project area goes into a pool to provide future assistance to to other projects).

Savarino said he thinks their proposal with HCR has gotten past a concern about the planned rental rates for the apartments.

HCR wants to ensure the apartments will be occupied and setting rents plus utilities at 90 percent of the city's median income seemed high to HCR officials, even though that formula is typically acceptable under HCR regulations. Officials asked Savarino to consider setting rents based on 80 or 85 percent of the median income.

Changing the rental rate creates a domino effect for the rest of the financial package, Savarino said, that makes the project much harder to pull off.

Savarino and Acquard said they both think they've reached an agreement with HRC on rents and the financing package but that includes an expanded PILOT approved by the GCEDC board.

"One of the issues that have kept coming up, in some cases with the New Market investors, but also with HCR, is the local buy-in," Savarino said. "It's been deemed not to have enough investment from the community for the benefit the community is getting. We've effectively checked that box by discussing a possible change to the PILOT."

A public hearing will be scheduled on a revised PILOT once the details are worked out.

Press release:

The Genesee County Economic Development Center (GCEDC) approved incentives for Amada Tool and Six Flags Darien Lake LLC, and accepted an application for an expanded PILOT (Payment In Lieu Of Taxes) agreement to support the Ellicott Station development at the agency’s Oct. 4 board meeting.

Amada Tool in the City of Batavia was approved for incentives for an $8.8 million capital investment to increase the company’s manufacturing facility by approximately 19,000 square feet. The project will create 17 new jobs and retain 68 current jobs. The approved investment includes $2.3 million in construction costs and $6.5 million in new equipment. Amada Tool was approved for property and sales tax exemptions of approximately $266,000.

Six Flags Darien Lake LLC was approved for approximately $166,000 in sales tax exemption to build a new $2.15 million ride that is scheduled to open in 2019.  Six Flags Darien Lake LLC is one of the largest sales tax revenue generators in Genesee County.

The PILOT agreement expansion requested by Savarino Companies for the Ellicott Station development was based on increased capital costs, from approximately $17.6 million to $21.75 million, and the development’s footprint, which will expand from 73,100 square feet to 99,111 square feet. The expansion includes the addition of at-grade garages for residents as well as increasing the number of housing units from 51 units to 55 units. 

NOTE: The Batavian will have a follow-up story on Ellicott Station as soon as we have time to write it, which may not be today.

As part its workforce development mission, the Genesee Economic Development Center has been participating in Tuesday evening activities at St. Anthony's, run by City Church, by bringing in recruiters to help connect members of the community with job opportunities.

Last night, Remedy Staffing was on hand to let community members know they can help get job seekers interviews with local companies.

Chris Suozzi, VP of business development for GCEDC (top photo and playing basketball below), told the people gathered in the gym during a break in the basketball games that there are more than 1,000 jobs available in Genesee County, including jobs that pay $15 an hour or more and jobs that provide a career path for advancement.

"Whether you're looking for full-time or part-time work there are jobs you can get started on tomorrow," Suozzi said.

Ryan Macdonald, who supervises Tuesday night activities at St. Anthony's, reminded the crowd they asked for help with finding jobs which is why GCEDC and Remedy staffing were on hand.

Kathryn Kempisty, client partnership supervisor for Remedy, said it would only take 30 seconds of a person's time on Tuesday night and a 30-minute meeting sometime in the next week in order for Remedy to line up job interviews with local employers.

"If you don’t know what you’re looking for, we can let you know about the options," Kempisty said. "There is so much out there that we can’t wait to have you come into our office."

Kathryn Kempisty and Brittany Nadrowski, Remedy Staffing.

Local government agencies are enjoying an additional $4.84 million in new revenue derived from projects approved for assistance from the Genesee County Economic Development Center since 2006, according to a report by CEO Steve Hyde to the County Legislature yesterday.

A key tax abatement awarded to qualifying projects is Payment in Lieu of Taxes (PILOT). While PILOTS afford companies some temporary tax relief on the increase in the assessed value of a property, the company is making PILOT payments and as the PILOT matures, new tax revenue is also generated.

Hyde said once all of the current PILOT projects on the books mature, additional tax revenue will surpass $7.5 million.

IN 2017, school districts in Genesee County received an additional $2.93 million in revenue from GCEDC projects, the county an additional $1.26 million, and local governments, $640,000.

"For every dollar, the county invests in economic development, we're seeing about $25 coming back in property taxes," Hyde said.

While GCEDC generates revenue for itself from fees charged to businesses that it assists, Hyde said it also relies on the financial support of the county, which has been reduced by 33 percent in recent years.

Meanwhile, GCEDC's workload has increased and the agency is actively marketing WNY STAMP in Alabama, which Hyde said continues to generate interest among site selectors, but for that $50 million project the IDA has only been able to budget $50,000 for marketing.

"That’s a bit of challenge right now but we work it and we’ll continue to work it," Hyde said.

GCEDC's support for business projects, Hyde said, have added 2.38 million square feet in new construction and another 1.28 million square feet in renovated space.

The number of PILOT projects in Genesee County in 2002 was 38. The peak was 2010 with 99. The number has fallen off steadily since then to 71 in 2017.

"Just because the number of our PILOTs are trailing off the past few years doesn’t mean it’s a bad thing," Hyde said. "It’s a good thing. It means we're graduating projects."

GCEDC is also working to help to finalize financing for the Ellicott Station project in Batavia. Hyde said it's the most complicated financing scheme he's worked on, and bringing state and federal requirements into line is a challenge. He's meeting today with the chief financial officer for Savarino Companies to work on some of those details. The IDA may need to adjust its initial PILOT plan for the project to help bring the pieces together.

The project has been delayed for months because of the difficulties faced by Savarino, the city and GCEDC in putting the financing package together.

During his eight-year journalism career, Jim Krencik covered economic development in Orleans County and Genesee County, and has often happens with a lot of reporters, he took a keen interest in the topic he was covering.

A week ago, he left his job at the Batavia Daily News and went to work for the Genesee County Economic Development Center as the new director of marketing and communications. He replaces Rachael Tabelski, who is now director of the Batavia Development Corp.

"I started to cover the GCEDC and explaining the big projects and how deals come together, what's happening in our community, that was just really spurred an interest," Krencik said. "I've always been impressed by the work they do here. I think their vision is outstanding and I want to help that mission however I can in this role."

Krenick left the Daily News after five and a half years as a hard-working reporter covering local government, mostly, in Genesee County for a job that will pay him $47,000 a year, which is substantially more than a typical reporter makes at a small-circulation paper.

"It was just very interesting looking at the variety of sites that we have here in Genesee County," Krenick said. "It's interesting looking at the number of businesses that are coming in and thinking if I could do something to help, that's beneficial to the whole community. It is wonderful to not only to share that with the public, but to help the team make that happen; that is very attractive."

Press release:

The Genesee Gateway Local Development Corporation (GGLDC) today approved a loan for Rest & Revival Float Center LLC’s renovation of a City of Batavia facility.

The startup company will be the first health and wellness center in Batavia and Genesee County to provide floatation therapy services.

The renovation includes the purchase of new machinery and equipment. The project has a capital investment of $355,000 and will retain two jobs and create three new jobs.

The company will receive a $100,000 loan from the Genesee Gateway Local Development Corporation’s Revolving Loan Fund.

Rest & Revive will provide floatation therapy and retail sales of floatation sleep therapy systems.

“Businesses are developing new ideas to grow with our economy,” said GGLDC Board Chairman Tom Felton. “The Revolving Loan Fund offers assistance to create more opportunities for companies and our community.”

Press release:

The Genesee County Economic Development Center (GCEDC) approved applications for incentives for two capital projects at the agency’s Sept. 6^th board meeting. 

Amada Tool in the city of Batavia is planning an $8.8 million capital investment to increase the company’s manufacturing facility by approximately 19,000 square feet in the City of Batavia.  The project would create 17 new jobs and retain 68 current jobs. 

The proposed investment includes $2.3 million in construction costs and $6.5 million in new equipment. Amada Tool is seeking property and sales tax exemptions of approximately $266,000. Approximately $85 will be generated in the regional economy for every one dollar of private-sector investment by Amada.

Six Flags Darien Lake LLC is one of the largest sales tax revenue generators in Genesee County and one of the region’s most popular tourist destinations is planning to build and open a new $2.150 million ride in 2019.  The company is seeking approximately $166,000 in sales tax exemptions.    

Both projects will require public hearings as the companies are seeking incentives of more than $100,000.