GCEDC to vote on two projects at Thursday meeting
Press release:
The Board of Directors of the Genesee County Economic Development Center (GCEDC) will consider two projects at its Aug. 1 board meeting. The board anticipates reviewing two revolving loan fund applications at this meeting as well.
Graham Corporation is seeking sales and property tax abatement for an expansion of its existing facilities. A new bay will be constructed (12,439 square feet) that will enclose the area between two manufacturing bays facing Harvester Avenue along with renovations of office and manufacturing areas. In addition, a new building (3,800 square feet) will be constructed on the 20 Florence St. property. This new building will be used for X-ray inspections of welds done during the fabrication process.
The total capital investment of the project is estimated to be approximately $5,500,000, with the proposed tax incentives contributing $483,396. Graham currently has 311 full-time equivalent (FTE) employees and expects to add 30 more over three years after the certificate of occupancy is obtained for these renovations.
The estimated economic impact of the project is 17.30:1. For every dollar of tax relief granted, the company will invest $17.30 into the local economy. Because the proposed incentives exceed $100,000, the board will first consider an initial resolution to be followed by a public hearing.
The last expansion project that Graham undertook – also with assistance from the GCEDC – was in 2011. At the time Graham had 278 FTEs and pledged 30 new jobs in three years for a total of 308 FTEs. According to its 2013 application, the company has exceeded its employment goals and plans to continue growing.
Guthrie Heli-Arc, a federally certified repair facility for transportation vehicles, is seeking sales and mortgage tax exemption and property tax abatement for an expansion and relocation project. For the past 22 years, the company has operated out of a rented facility in Bergen. That facility has been sold, and their lease will terminate. CLR Industries, LLC, a real estate holding company, has purchased a facility at 6276 Clinton Street Road in Stafford. Guthrie Heli-Arc plans on moving into the Stafford facility after a 7200-square-foot addition to the existing structure is completed. The addition is necessary to accommodate workflow.
The total capital investment of the project is estimated to be approximately $300,000, with the proposed tax incentives contributing $77,052. Guthrie Heli-Arc estimates that the project will allow the company to create two new jobs while retaining six others. The estimated economic impact of the project is 9.4:1. For every dollar of tax relief granted, the company will invest $9.40 into the local economy.
All GCEDC Board meetings are open to the public. Meetings are held on the second floor of the Dr. Bruce A. Holm Upstate Med & Tech Park, located at 99 MedTech Drive in the Town of Batavia, across from Genesee Community College. The meeting is anticipated to convene at 4 p.m.
