Low-cost electricity approved for Edwards Vacuum facility at STAMP site
Gov. Kathy Hochul today announced that the New York Power Authority has approved 4.9 megawatts of low-cost electricity for Edwards Vacuum, a company that is building a $209 million manufacturing facility at the STAMP site off Route 63 in the Town of Alabama.
Today’s announcement follows the approval last week by the Genesee County Economic Development Center in $17 million in tax breaks for the company. The GCEDC approved sales tax exemptions of approximately $4.34 million and a 20-year property tax abatement of approximately $12.85 million.
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, GCEDC officials said.
The Power Authority today approved a 4.9-megawatt low-cost Niagara hydropower allocation to Edwards. Additionally, the NYPA board approved 2.1 megawatts of High Load Factor power that the Power Authority will procure for Edwards on the energy market.
Low-cost Niagara hydropower is available for companies within a 30-mile radius of the Power Authority’s Niagara Power Project or businesses in Chautauqua County.
“The economic development awards approved at today’s meeting will advance the goals of New York’s ambitious Climate Act and strengthen the state’s position as a global leader in semiconductor manufacturing,” said John R. Koelmel, New York Power Authority chairman. “The Niagara Power Project is linked to tens of thousands of Western New York jobs and is powering New York’s transition to a clean energy economy.”
Edwards is preparing to construct a 240,000 square-foot campus that will include manufacturing, warehouse, and administration at the STAMP location. Dry vacuum pumps are a critical component of the semiconductor manufacturing process, and the firm’s expansion would directly support semiconductor companies in the United States.
“Upstate New York’s emergence as a global hub for advanced manufacturing is stimulating unprecedented, transformative investments that will deliver the jobs of tomorrow to New York’s talented workforce,” Governor Hochul said. “By providing these firms with the tools and support they need to thrive, New York is furthering its legacy of innovation and cementing itself as a leader in the semiconductor industry.”