GCEDC on Twitter
Tax Base Analysis: Projects growing in size, positive financial impact
BATAVIA – With active construction at Plug Power’s $232 million green hydrogen campus at the Western New York Science & Technology Advanced Manufacturing Park and Ellicott Station’s 55 units of workforce housing, the growing size and scale of Genesee County’s active payment in-lieu of tax (PILOT) projects is clearly visible.
In fact, projects with active Genesee County Economic Development Center approved PILOTS shattered the previous record for total capital investment in 2021. More than $932 million of private investment has been generated through projects to grow manufacturing, agri-business, housing, and community growth.
Using data reported annually to New York, the GCEDC provided Genesee County Legislators with a full analysis of the current and future financial impact of GCEDC projects at a recent Ways & Means Committee.
In 2021, those results for Genesee County, and its municipalities and schools, include…
$2.48 million in PILOT payments by projects with an active PILOT
$3.63 million in property taxes paid by projects with a completed PILOT
471,504 sq ft of new and renovated square feet of commercial or industrial space by 2021 PILOT projects