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$360 Million of Investment in Genesee County Advanced by GCEDC Board of Directors
BATAVIA, NY – The Genesee County Economic Development Center (GCEDC) has accepted initial applications for incentives to advance the two of the largest capital investment projects in the County’s history.
Edwards Vacuum, part of the Atlas Copco Group, is proposing to invest $212 million for the first phase of the company’s semiconductor dry pump manufacturing project at New York’s Green Manufacturing mega site at STAMP; while Horizon Acres Associates, Inc. is proposing to invest $142 million to build six flex commercial/industrial facilities totaling 1.5 million square feet in the Town of Pembroke.
“These are substantial milestones for our community as Atlas Copco Group and Horizon Acres Associates Inc. are making two of the largest financial investments in county history,” said GCEDC President and CEO Steve Hyde. “These historic investments represent the significant interest we’ve seen in Genesee County and at STAMP among companies exploring new business opportunities as a result of the growth of the advanced manufacturing and semiconductor sectors in our region and across upstate.”
Phase 1 of Edwards Vacuum’s “factory of the future” will create 343 high-wage careers that will support the company’s domestic semiconductor customer base. It is anticipated that over a 20-year span, the project will generate approximately $13.4 million in revenues for the Town of Alabama, Genesee County, Oakfield-Alabama School District, and the Alabama Fire Department.
Atlas Copco USA Holdings Inc. & Subsidiaries (Edwards Vacuum) has requested sales tax exemptions of $4.34 million and a 20-year property tax abatement of approximately $12.85 million. The project is estimated to generate $644 million in payroll and projected future municipal revenues, a $39 benefit to the local economy for every $1 of public investment.
A public hearing will be scheduled on the proposed project agreements in the town of Alabama.
Horizon Acres Associates, LLC’s 1.5 million square-foot flex campus will play a vital role in growing the capacity for business growth in Genesee County and support the attraction of companies locating at the Science & Technology Advanced Manufacturing Park (STAMP) and other nearby locations. The campus will include six flex commercial/industrial facilities, with plans to start construction in late 2023.
The facilities will be suitable for a large single tenant, multiple smaller tenants, or suppliers for advanced manufacturing projects. The development is estimated to create up to 400 new jobs at full capacity.
Horizon Acres Associates, LLC has requested a sales tax exemption estimated at $6.2 million, a property tax abatement estimated at $11.9 million, and a mortgage tax exemption estimated at $1.1 million. The project is projected to generate $7.9 million in revenues to the Town of Pembroke, the Pembroke Central School District and Genesee County during the proposed 10-year PILOT agreement, which is estimated at 39.5 times the municipal revenue that would be generated under the property’s current use.
The GCEDC’s economic analysis of the project estimates a $227 million impact, including $218 million in payroll and $9.1 million in future municipal revenues. For every $1 of public benefit the project is projected to generate $16 into the local economy.
A public hearing will be scheduled on the proposed project agreements in the town of Pembroke.
Finally, the board accepted a final resolution from NY CDG Genesee 4 LLC for a 4.275 MW community solar farm in the Town of Pavilion on Shepard Road. The $6.5 million project is projected to generate approximately $500,000 in future revenues to Genesee County, the Town of Pavilion and the Pavilion Central Schools.