GCEDC to review $61M of investments and 84 new jobs Thursday
Press Release:
The Genesee County Economic Development Center (GCEDC) board of directors will consider final resolutions for two manufacturing projects with proposed investments of $61 million and the creation of 84 new full-time equivalent (FTE) positions at its board meeting on Thursday, August 1.
GE Bergen Owner, LLC is proposing to build a 196,000 square-foot manufacturing facility at Apple Tree Acres in the town of Bergen. The $43.6 million project would be leased to an end user and will create 60 new FTEs and retain 140 FTEs.
GE Bergen Owner, LLC is requesting sales tax exemptions estimated at approximately $1.75 million, a property tax abatement of approximately $2.15 million via payment in lieu of taxes (PILOT), and a mortgage tax exemption of $366,000.
The proposed incentives are estimated to generate $41 million in wages/ benefits and revenues for local governments generated by the development over 10 years. The project would generate a $13 return on investment for every $1 of proposed incentives.
The project is pending, subject to receiving incentives from Empire State Development Corporation.
Graham Corporation is proposing to build a 28,867 square-foot commercial production facility in the City of Batavia. The $17.6 million project would create 24 new full-time equivalent (FTE) positions while retaining 367 FTEs.
