In 1969, the New York State Legislature enacted the New York State Industrial Development Agency Act providing for the formation of Industrial Development Agencies (IDA's) on a local level across the state. This legislation was enacted in response to the growing economic challenges being experienced statewide which was manifesting itself in job losses and business relocations to other states. IDA's were formed to provide targeted financial incentives (largely tax breaks) to businesses at a local level in order to foster job retention, existing business expansions and to enable New York State to compete more effectively as it relates to new business attraction opportunities.

GCEDC, previously known as GCIDA, is legally classified as an Industrial Development Agency (IDA) representing the economic development interests of Genesee County. Formed in 1970, the GCEDC is a Public Benefit Corporation established under New York's General Municipal Law. GCEDC is a separate, autonomous organization not part of the Genesee County Government. Our board consists of seven local experienced business persons who volunteer their services for the economic benefit of our community.