National Grid approves $500K for STAMP project
Press Release, National Grid
BASOM – National Grid has apporoved a $500,000 grant to help develop and market the Science and Technology Advanced Manufacturing Park (STAMP) site in the town of Alabama, just south of the Orleans County line.
National Grid has now given $1.5 million since 2007 to advance the project. The Genesee County Economic Development Center is developing the site and marketing it to corporate site selectors as well as nanotechnology and advanced manufacturing companies throughout the United States and the world.
“We are extremely excited to have such strong support from National Gird to help us bring the next generation of advanced manufacturing to Western New York,” said Steve Hyde, president and CEO of the GCEDC. “STAMP has received significant support from business, education and economic development groups and organizations from Buffalo and Rochester, so it is truly a collaborative effort to bring this transformative economic development project to our region.”
STAMP is a 1,250-acre site and is aligned to attract the next generation of nanotechnology companies, including semiconductor chip fabs, flat panel displays, solar, bio-manufacturing, and advanced manufacturing companies to New York State.
Most recently, STAMP was appropriated $33 million in the 2014-15 state budget to bring the site to a shovel-ready status. This funding will be used for pre-construction engineering, sewer and water lines and other utility hook-ups and other infrastructure enhancements.
“We have seen a number of major gains in the bringing new and advanced technologies to the region, and we’re confident that STAMP will continue the significant economic development momentum in the region in the science, technology and advanced manufacturing areas,” said Dennis Elsenbeck, regional executive for National Grid in Western New York.
STAMP is located in the New York Power Authority’s (NYPA) low cost hydropower zone. The site is within a 60-minute commute of 2.1 million residents from the Rochester and Buffalo metro regions as well as six university centers with over 17,000 enrolled engineering students. According to GCEDC officials, STAMP has the potential to generate $30 to $50 billion in investment and employ up to 10,000 workers on-site. The supply chain impact could add another 50,000 jobs.
The grants to the GCEDC are from a number of National Grid programs, including the Strategic Economic Development Program designed to increase effective marketing and sales initiatives aimed at “strategic targets.”
This program provides expertise and incremental resources to leverage more and better macro-level business attraction research, marketing and sales efforts. Other grants have helped support hard infrastructure improvements to the site. Information about National Grid’s suite of economic programs is available at www.shovelready.com.