NY approves $5M, low-cost electricity for STAMP company
ALABAMA – The state is releasing the first $5 million of the $33 million approved in the 2014-15 state budget to develop infrastructure for the STAMP site in the Town of Alabama in Genesee County.
1366 Technologies will be the first tenant at the 1,250-acre Science and Technology Advanced Manufacturing Park, just south of the Orleans County border. The company made the announcement, committing to the Genesee County site on Oct. 7 with Gov. Andrew Cuomo.
1366 Technologies, a manufacturer of technologies for the solar energy industry, will establish its first large commercial Direct Wafer production plant and expects to hire 600 people initially at STAMP, which could grow to 1,000 local employees.
The company is working with engineers on its building, and will also need to secure approvals from the Alabama town officials. The company expects to break ground in 2016 and begin manufacturing in 2017, said Earl Wells, a spokesman for the Genesee County Economic Development Center.
Empire State Development today announced the $5 million for STAMP. The money will be used by the GCEDC for the cost of land acquisition, engineering, and soft costs related to infrastructure development for 1366 Technologies.
Wells said additional state funds should be released as the construction and infrastructure work moves along.
Empire State Development said today that the company chose the STAMP site out of 300 possible locations due to the site’s positive momentum and commitment to growing manufacturing interests. The project will be completed in August 2016 and aligns with the Finger Lakes Regional Economic Development Council’s plan for advanced technology and manufacturing, Empire State Development said in a news release.
The New York Power Authority also voted on Dec. 17 to allocate 8.5 megawatts of low-cost electricity to 1366 Technologies through the state’s ReCharge NY program.