Genesee approves $17 million in incentives for $209 manufacturing facility at STAMP
Press Release, Genesee County Economic Development Center
BATAVIA – The board of directors for the Genesee County Economic Development Center approved financial agreements today to support Edwards Vacuum for the first phase of the company’s $209 million semiconductor dry pump manufacturing facility at the Science Technology and Advanced Manufacturing Park.
Edwards Vacuum is part of the Atlas Copco Group. It will build a “factory of the future” at STAMP that will serve the semiconductor industry and advanced manufacturing sectors and create approximately 343 new high-paying jobs.
The facility is projected to generate more than $13.4 million in future revenues to the Town of Alabama, Genesee County, Oakfield-Alabama School District, and the Alabama Fire Department over 20 years.
Atlas Copco USA Holdings Inc. & Subsidiaries (Edwards Vacuum) has requested sales tax exemptions of approximately $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, and a $39 benefit to the local economy for every $1 of public investment.
