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June 26, 2015 - 5:34pm
posted by Howard B. Owens in GCEDC, Batavia Downs, business, batavia.

Dealing just with hard numbers -- setting aside speculation on hoped-for new revenue and "the multiplier effect" of jobs created -- the tax abatement plan approved Thursday by the Genesee County Economic Development Center Board for a new hotel at Batavia Downs should be profitable for taxpayers, according to data obtained by The Batavian from a GCEDC staffer.

The abatements will save developers about 11.5 percent on their $5.49 million investment, and the new taxes the project generates will be about a 100-percent return to taxpayers, if you accept the notion that the project doesn't get built at all without the tax incentives. If not, it's at least 42-percent return.

By law, the developer must certify that the project requires a tax break to be feasible, according to Rachael J. Tabelski, marketing and communications director. That is a requirement for all projects considered by the GCEDC.

"We have to trust the applicant that when they say this project won't be a viable project without the tax incentives," Tabelski said.

ADK Hospitality, the hotel's developer, will save $638,000 in taxes over the next 10 years, but it won't be getting off totally free. The hotel's owners, over the next 10 years, will pay $1.1 million in various taxes.

Tabelski was quick to point out that the $638,000 in tax breaks is not money taken from taxpayers. It's just money that isn't paid to the government; money that doesn't exist if the project isn't built. Thus, the $1.1 million in taxes ADK will pay over the next decade is all new revenue for schools, the county and the state (but not the Town of Batavia, which doesn't have its own tax on property).

That figure doesn't include sales tax generated by the hotel, or any anticipated increase in sales tax generated by the hoped-for increase in business at Batavia Downs. It also doesn't include employment taxes generated by the anticipated $600,000 in payroll for 25 full-time equivalent new hires at the hotel. 

The developers told the GCEDC Board that the project would generate a total of $2.8 million in tax revenue between now and 2025, but there isn't a breakdown available on what categories of taxes comprise that total. It likely covers fire district, property, bed tax, sales tax and payroll tax.

The $1.1 million in hard numbers we have includes:

  • $56,000 paid to the Town of Batavia Fire District;
  • $550,000 paid in county bed taxes;
  • $500,000 paid in property taxes over the life of the PILOT.

A PILOT is a tax break given to developers of projects that industrial development agencies, such as GCEDC, believe will create or retain jobs. It is a reduction in taxes on the increase in assessed value of a property.

Let's say a property is valued at $100,000. A business ads a new wing to its building and increases the assessed value to $150,000. The business continues to pay all property taxes on the initial $100,000 in assessed value, but gets a reduction in taxes on that additional $50,000. PILOT agreements vary, but typically, there would be no taxes due the first two years of the increase, and then taxes would be incrementally increased every two years until the 10th year, when the property owner is paying the full tax bill on the increase in assessed value.

In the case of the hotel property, the developers are buying land from Western OTB, which is currently tax-exempt and has no assessed value. It will be assessed next year, and its assessed value will go from zero to whatever that assessed value is, and the PILOT will be calculated based on that increase, unless the project is not yet completed, in which case there will be only a partial assessment with a full assessment to come during the next annual assessment period after the project's completion.

The PILOT on this project is worth $300,000. The remaining abatements are for the mortgage tax on the purchase and on the sales taxes due on material purchased during construction.

As for the multiplier effect, that's a controversial notion to some, but the idea is that if you create a new job and pay that person money, they will spend some amount of that money locally, and the churn of that money will help pay other people's wages, lifting everyone's boats. That $600,000 in new payroll could be worth millions in economic growth locally.

These figures also don't include wages paid to construction workers and purchases made from local vendors -- if any -- during construction.

June 25, 2015 - 5:38pm
posted by Traci Turner in GCEDC, Batavia Downs.

The Genesee Economic Development Center Board voted unanimously to approve ADK Hospitality’s application for approximately $638,000 in tax exemptions during a special meeting this afternoon.

ADK is planning to build an 84-room hotel connected to the Batavia Downs gaming facility. The investment is estimated at $5.49 million.

The board agreed with ADK Hospitality that the project falls under the tourism destination requirement with the general municipal law, which states the destination must bring in outside traffic.

In response to the Clarion Hotel’s opposition to the project, Steven Hyde, GCEDC president and CEO, stated that ADK’s project application was different from the Clarion’s project application submitted in 2012.

According to GCEDC records, the Clarion Hotel submitted an incentive application for window and stucco upgrades to their facility as well as debt refinance. Staff responded to the application and said the project may not meet law requirements to enhance the destination and attract more visitors. The Clarion Hotel then removed its application.

For ADK's project, Hyde stated many full-fledged casinos offer lodging and the hotel is a good opportunity to increase traffic at Batavia Downs.

“Today we’re looking at brand-new construction, a new feature integrated to the destination and a market study that confirms the projections will meet law requirements,” Hyde said.

Wolcott Hinchey, chairman, thinks the hotel will significantly contribute to continued growth and economic development in Genesee County.

“One of the things that I liked about this project is that we’re taking a tax-exempt property and selling it to a private developer and putting a property in the Town of Batavia back on the tax rolls,” Hinchey said. “I think the benefits of the project to the community outweigh the negatives.”

Michael Nolan, vice president of Western Regional Off-Track Betting, is looking forward to starting hotel construction.

“The staff here has been wonderful with looking at every detail of the project and what it will mean to the community,” Nolan said. "We can’t thank them enough for all the professionalism that they displayed throughout the whole process. As soon as the legal work dealing with the closing of the property is complete, we will start construction at the Downs.”

In addition to ADK's project, the GCEDC approved an application submitted by Manning Squires Henning Co. for approximately $170,000 in tax exemptions to expand its facilities. The company plans to add 5,000 square feet and renovate its existing shop and office space. The project’s investment is approximately $1.3 million.

June 23, 2015 - 7:13pm
posted by Traci Turner in GCEDC, Batavia Downs, batavia, business.

An attorney representing the Clarion Hotel and members of the community voiced concerns regarding the application submitted by ADK Hospitality, LLC, to Genesee County Economic Development Center for incentives to build a hotel at Batavia Downs.

A public hearing was held Monday night by the GCEDC to gain input from the community on the application they received from ADK, a private developer seeking to build a hotel at Batavia Downs, requesting approximately $630,000 in incentives.

Vivek Thiagarajan, attorney representing Clarion owner Chat Patel, argued that when his client looked into applying for GCEDC incentives to build the Palm Island Indoor Waterpark in 2012 he was told the project would be denied funding because it was not considered a tourist destination. Thiagarajan argued that ADK's hotel is not a tourist destination and Batavia Downs should not receive tax incentives either. 

"There is no tourist destination about the hotel itself," Thiagarajan said. "Maybe the name makes it look like it's affiliated with Batavia Downs but the hotel is merely just like any other hotel. As a result, the public shouldn't be forced to fund something that only benefits the private owners of that hotel."

Thiagarajan also argued that the purchase price of $600,000 is less than the $630,000 in incentives the project would receive from the GCEDC.

In addition to Thiagarajan's opposition, John Sackett, a past county legislator, questioned whether the hotel would create full-time jobs and believed the hotel should be built without incentives.

A representative from the Northeast Regional Council of Carpenters expressed concern over whether Batavia Downs and ADK would use union construction workers to build the hotel. The union agreed it would support the hotel project if union construction workers were used.

A variety of local businesses wrote letters in support of the proposal. The businesses included Sport of Kings Restaurant, Harness Horse Breeders of New York State, Sloat Tire Shop, Genesee Feeds, Nothnagle Realtors, Genesee County Chamber of Commerce, WNY Harness Horsemen's Association and U.S. Foods. The businesses stated that Batavia Downs is a primary asset for attracting tourism and the addition of the hotel would bring more people and business to the community.

Anthony Baynes, managing member of ADK, provided details on the hotel project and the economic impact it would have on Genesee County. In the presentation, Baynes stated the $5.5-million hotel will be a four-story structure with 84 rooms. Itl will also be connected to Batavia Downs Gaming and complement the design elements of the new gaming entrance. There will be no restaurant or bar in the hotel.

"The hotel will positively impact Batavia Downs and local tourism on a permanent basis," Baynes said. "It will generate incremental gaming, banquet, food and beverage revenue at Batavia Downs, which will result in increases in tax collection, jobs preserved and additional jobs created."

According to Michael Nolan, vice president of Western Regional Off-Track Betting, the corporation that owns Batavia Downs, the hotel will help the gaming industry expand and allow them to compete with other casinos that are building hotels.

The hotel will result in the creation of 23 jobs. There also will be more job growth due to the number of wedding and conventions Batavia Downs will host because of the hotel.

"We think our banquet facility is going to multiple 10 times due to the hotel," Nolan said. "It's well within reason that there will be 50 jobs coming with the addition of the hotel."

According to statistics provided by Hotel & Leisure Advisors, a national hospitality consultant firm, the total impact of the new gaming revenue, new food and beverage sale and increased banquet business will be $2.6 million for the first year of operation. In the first 10 years of operation, the impact will be $31 million.

The GCEDC Board of Directors is having a special public meeting to consider a final resolution for the project. The meeting will be held at 11:15 a.m. on Thursday at the Innovation Zone Conference Room at MedTech Centre.

June 5, 2015 - 2:57pm
posted by Billie Owens in business, GCEDC.

Press release:

The Genesee County Economic Development Center (GCEDC) announced that it will host a “Taking Your Small Business Global” Export Workshop on Thursday, June 11, from 9 a.m. – 12 p.m. at the Innovation Zone at MedTech Centre in Batavia.

The workshop, presented by the U.S. Small Business Administration (SBA) and the U.S. Department of Commerce, will provide participants with critical information about export financing and creating an export plan.

“We believe it’s important to provide our stakeholders with key resources and access to individuals who can help them grow and expand their small businesses on a larger scale,” said Steve Hyde, president and CEO, GCEDC. “We are pleased to host this event which we hope will give small business owners in our region the valuable tools and knowledge they need to take their business global.”

 To register, please visit events.sba.gov or contact Greg Lindberg at (716) 551-5670. The workshop is free.

June 5, 2015 - 8:46am
posted by Howard B. Owens in GCEDC, business.

Press release:

The Board of Directors of the Genesee County Economic Development Center (GCEDC) accepted applications for assistance from Manning Squires Henning Co., Inc., and ADK Hospitality, LLC, at its June 4, 2015 board of directors meeting.

Manning Squires Hennig Co., Inc., is proposing to expand its corporate offices and maintenance facilities in the Town of Batavia by up to 5,000 square feet. The project also would include renovations of the company’s existing shop and office space.

Founded in 1958, Manning Squires Hennig Co., Inc., is a general contractor that has worked on various high profile projects over the years including work at the Rochester School of the Arts, Kodak Park, Buffalo Bills Fieldhouse, Monroe Community College, and Bausch & Lomb Rundell Library among many others.

Manning Squires Hennig Co., Inc., is seeking sales tax, mortgage tax and property tax exemptions totaling approximately $170,556 in estimated incentives. The capital investment would be approximately $1.3 million and would retain 88 jobs and create five new jobs.

ADK Hospitality, LLC, is proposing to build an 82-room hotel connected to Batavia Down’s gaming facility. ADK Hospitality, LLC, is seeking an estimated $638,193 in sales tax, mortgage tax and property tax exemptions. The planned capital investment is approximately $5.49 million.

June 2, 2015 - 1:00pm
posted by Howard B. Owens in GCEDC, business.

Press release:

The Board of Directors of the Genesee County Economic Development Center (GCEDC) will consider three projects at its June 4, 2015 board meeting.

ADK Hospitality plans to build an 82-room hotel connected to Batavia Down’s Gaming facility which will serve as an important amenity to the gaming, restaurant, banquet and racing activities at Batavia Downs. The capital investment is approximately $5.49 million.

Manning, Squires Hennig Co., Inc., plans to expand its corporate office and maintenance facilities in the Town of Batavia to include a 5,000-square-foot shop and additions to its main office space. The capital investment is approximately $1.3 million. The project is expected to result in 88 retained jobs and the creation of five new jobs. 

O-AT-KA Milk Products plans to add 205,000 square feet of warehousing space to its manufacturing facility on the corner of Ellicott Street and Cedar Street in Batavia. The project will retain 334 jobs and create 21 new jobs. The capital investment is approximately $10.25 million.

The GCEDC Board meeting will take place at 4 p.m. and is open to the public.  Meetings are held at the Innovation Zone Conference Room at MedTech Centre -- 99 MedTech Drive, Batavia, on the first floor, across from Genesee Community College.

May 22, 2015 - 1:43pm
posted by Howard B. Owens in GCEDC, business.

Press release:

As part of the 2015 agency performance goals, the Genesee County Economic Development Center (GCEDC) announced the first of a series of outreach meetings to engage local taxing jurisdictions throughout the County about the various activities and programs and incentives offered by the GCEDC. 

On Tuesday, May 26, GCEDC President and CEO Steve Hyde will make a presentation at a joint meeting of the Town and Village of Bergen at the Bergen Town Hall on 10 Hunter St. in Bergen at 6:30 p.m. 

Among the topics for discussion will include development and business recruitment and expansion activities at the Apple Tree Acres. Among the businesses that currently operate out of Apple Tree Acres include Liberty Pumps, Leonard Bus Co. and Ad Tech. Hyde also will provide information about how payments in lieu of taxes (PILOT) impact the tax base among other topics.

“As part of the 2015 goals the GCEDC Board of Directors identified at the beginning of this year, we will enhance our outreach efforts to taxing jurisdictions and stakeholders throughout Genesee County about our economic development activities,” Hyde said. “We are always striving to increase outreach to the stakeholders we serve and identity new ways in which we can expand the quality of our economic development programs and incentives.”

May 19, 2015 - 1:43pm
posted by Howard B. Owens in GCEDC, business, Falcone Electric.

falconeelctricmay192015.jpg

Press release:

Genesee County Economic Development Center officials announced today that the new owners of Falcone Electric, an electrical supply provider in Batavia, have completed repayment of a $100,000 revolving business loan issued by the GCEDC in 2010.

On January 1, 2010, Dan and Amy Vanderhoof purchased the assets of Falcone Electric from Michael Falcone with the assistance of GCEDC’s Revolving Loan Fund Program. The loan was issued to assist in the new owners’ purchase of the company and ensure that Falcone’s would continue to operate and provide jobs for the existing employees under the new ownership. Through the process, Michael Falcone was able to transition to retirement knowing that his three wishes for the business would be carried out – that Falcone Electric would remain a family owned and operated small business; it would maintain close ties to the local community; and it would support the employees and customer base that have been loyal to Falcone’s for many years.

The Revolving Business Loan also helped fund operating capital and the purchase of a computer warehouse management system. GCEDC provides this type of loan to fund investments that support enterprise sustainability, growth and job retention or creation.

“The GCEDC educated and guided us throughout the process in finding the loan program that was the perfect fit for our needs,” said Dan Vanderhoof, co-owner of Falcone Electric. “It is comforting to know that there are financing opportunities for small businesses through local resources provided by entities such as the GCEDC.”

“Purchasing a business, especially a business with such a strong tradition, can be a daunting task especially in finding the capital to make such a transaction feasible, said Dan Vanderhoof, co-owner of Falcone Electric. “Were it not for the Revolving Loan Fund program, we may not have been able to fulfill our dream in buying Falcone Electric from Mike.”

Upon the company’s purchase in 2010, the Vanderhoofs kept the company under the “Falcone” name and have made upgrades to modernize the store.

“We wanted to recognize Dan and Amy to simply remind small businesses that they have low-cost options when it comes to financing their business,” said Mark Masse, senior vice president of operations at the GCEDC. “What better testament to the revolving fund program than through business owners who were able to directly benefit from it.”

GCEDC offers revolving businesses loans at a minimum of $25,000 and maximum of $200,000. The utilization of the loan funds must be consistent with GCEDC’s mission to support enterprise sustainability and job retention and/or enterprise growth and job creation. For more information about GCEDC’s loan programs and incentive offerings, please visit www.gcedc.com.

Photo by Howard Owens.

May 15, 2015 - 11:18am
posted by Howard B. Owens in Genesee Valley Agri-Business Park, GCEDC, business, batavia.

gcplanningboardmay142015-3.jpg

The backers of a proposed bio-gas plant in the Genesee Valley Agri-Business Park are in the early stages of site planning and they hope, if all goes to plan, to be operational in a year.

The plan was presented for review Thursday night to the Genesee County Planning Board and the board unanimously recommended approval at this stage of the process.

The plant would take organic waste from food processing plants -- primarily the two yogurt plants in the ag park -- and convert it into methane to generate heat that could be resold to the plants and electricity that the plants could also purchase.

The plant would generate more electricity than the plants could use -- enough to power 800 homes a day -- so additional capacity would be transferred into the electrical grid.

The plant, said architect Robert Keiffer, of TY Lin International, Rochester, is environmentally friendly, would help make the yogurt plants more sustainable and more efficient to operate, and help attract business to the ag park.

The owners of the plant would be CH4 Biogas, which already operates a plant in Covington.

CH4 has a purchase agreement with Genesee County Economic Development Center for five acres in the ag park. The project would be eligible for economic incentives from GCEDC.

The proposed facility would be 8,500 square feet, housing processing equipment, an office, bathroom, dock area and de-packaging area.

The waste accepted by the facility would be organic and non-hazardous. The waste would go through a methane-capture process, pumped into a grinder and put into a receiving tank.

The waste is then pasteurized in three 15-foot-high tanks. This optimizes methane release. Next, the waste is moved to digester tanks that are completely enclosed. Methane is collected and stored in another tank. It is then converted into electricity by a CHP engine. The engine is not located on site, but at the thermal end-user's location and enclosed to reduce noise.

The organic waste, if not sent to a digester plant, could be used on farm fields or simply taken to a dump. In either case, the methane eventually released by the waste would drift into the atmosphere. Methane is considered a greenhouse gas. This process captures 100 percent of the methane from the waste and converts it to electricity.

May 11, 2015 - 1:38pm
posted by Howard B. Owens in GCEDC, business.

Press release:

The Board of Directors of the Genesee County Economic Development Center (GCEDC) and Genesee Gateway Local Development Corporation (GGLDC) approved projects at the May 7 board meetings.  

The GCEDC approved an application from the Depew, Lancaster & Western Railroad for the purchase of a specialized forklift and two track vehicles for servicing truck and rail service at the transload warehouse facility in the City of Batavia.

Depew, Lancaster & Western Railroad company also received approval for a sales tax exemption of $9,512. The anticipated capital investment will be approximately estimated $118,000. Further, for every $1 of public benefit, the company will invest $12.50 into the local economy.

The GCEDC Board also passed an amended insurance policy to allow for the approval of lower insurance limits specifically for small-scale sales-tax exemption projects on a case by case basis. The new policy will allow smaller projects to take advantage of GCEDC’s incentives without having to incur the increased costs of changing insurance coverage to receive the benefits.

The GGLDC, the real estate arm of the Genesee County Economic Development Center (GCEDC), approved a purchase and sale agreement with Fancher Properties LLC for 2.6 acres of land in the Buffalo East Technology Park. 

Fancher Properties plans to build a 15,000-square-foot facility at the Technology Park to house an office, manufacturing and warehouse facility. The company, which manufactures and installs specialty signs and closets for housing developments and hotels, plans to invest $500,000 in the project and will work with the GCEDC to seek IDA benefits.

“While it’s great to see new businesses coming into the community, it’s also very important that our agency can assist existing companies with their expansion and growth needs,” said Steve Hyde, GCEDC president and CEO. 

Hyde also stated that “the change approved by the GCEDC Board in the insurance requirement policy will allow us more opportunities to help small businesses take advantage of IDA benifts for their projects."

April 29, 2015 - 6:25pm
posted by Howard B. Owens in business, GCEDC, Le Roy, bergen.

Le Royans will often tell you, they live in a special place. Now they have some proof and a chance to demonstrate just how special it is, with the chance at a $3 million prize at the end of the rainbow.

Frontier Communications, drawing from 138 applications in 27 states, has picked Le Roy as one of the Top 50 communities in America.

The honor comes with a $50,000 prize to help fund writing a comprehensive plan aimed at spurring business growth with assistance from business leaders at IBM.

"For those of us who choose to live here, and those people who have chosen to move away and come back, there is a draw to la-roy, or lee-roy (pause for laughter), and we need to capitalize on that, and I think maybe that's why we were so strong with our application," said Lynn Belluscio, curator of the Le Roy Historical Society, who helped with the application process. "It is going to take all of us going in the same direction, which we know is sometimes difficult in this community, but I think we can do it."

The impetus to apply came from County Legislator Shelly Stein, who worked with the staff at GCEDC to get the ball rolling, but the application process and letters of support brought together not just Stein and the GCEDC, but Belluscio, Supervisor Steve Barbeau, the Rotary Club of Le Roy, the Chamber of Commerce, Superintendent of Schools Kim Cox, the Le Roy Business Council, County Planning Director Felipe Oltramari and the Village of Le Roy.

The Village and Town of Bergen also pitched in because Le Roy by itself didn't have a big enough population to qualify.

The business project that will be targeted for infrastructure improvement -- a bigger natural gas pipe and broadband -- is the park at Route 19 and West Bergen road.

Robert Smith, the Rochester area general manager for Frontier, said he though Le Roy and Bergen were a great choice.

"But the work doesn't end here," Smith said. "You have a lot more to do because there is a lot more that can come from this."

The comprehensive plan will be reviewed in November and after that the Le Roy group will find out if it moves onto the next stage.

The eventual payoff for the winner is a $3 million prize, but second plays will earn $2 million and third, $1 million.

Growing the local business base is critical, Barbeau said.

He noted that for every tax dollar generated by a commercial property, businesses consume about 60 to 70 cents and services. For agriculture, it's about 30 cents in services. But residential, he said, eats up about $1.30 in services.

"We feel like this is a perfect opportunity to expand our infrastructure and bring in more business," he said.

Steve Hyde, CEO of GCEDC, said this is an exciting opportunity for Le Roy and Bergen and fits right in with everything GCEDC is trying to do to attract more industry to Genesee County.

"When you try to grow an economy, you need to be able to talk about the quality of life and the factors that make it a place where people want to live, work and play," Hyde said. "This community has that."

Photo: Smith presenting a finalists' certificate with Rotary president Randy Vink and Stein in the background.

April 11, 2015 - 7:58am
posted by James Burns in batavia, GCEDC, MedTech Park, Innovation Zone.

Officials unveiled the Innovation Zone at MedTech Park in Batavia yesterday. The Innovation Zone is designed to attract high-tech entrepreneurs and start-ups. To help start-ups it will provide working space and free Wi-Fi as well as programing and business services for a $200 a month fee.

A total of $50,000 for the Innovation Zone was provide by the National Grid’s CleanTech Incubation Program. The project was run by the GGLDC (Genesee Gateway Local Development Corp.), which is the real-estate arm of the GCEDC (Genesee County Economic Development Center).

March 31, 2015 - 10:35am
posted by Howard B. Owens in business, GCEDC.

Press release:

Mostert, Manzanero & Scott, LLP, presented a summary of the audit process undertaken and the scope of their engagement, as well as the findings and various observations related to the Genesee County Economic Development Center’s financial position at an open meeting of the GCEDC Board on March 30, 2014.

The GCEDC Board engaged Mostert, Manzanero & Scott, LLP, a certified public accounting firm, to perform the audit of 2014 financial statements. The audit was designed to issue an opinion on the financial statements of the GCEDC for the year ending December 31, 2014, a management letter to the Board of Directors and management and a report about internal control over financial reporting in accordance with Government Auditing Standards.

Included in the management letter is a statement from Mostert, Manzanero & Scott, LLP, affirming that no material deficiencies in internal controls were identified during the audit. They also affirmed that, in their opinion, the audited financial statements present fairly, in all material respects, the financial position of the GCEDC as of December 31, 2014, in accordance with accounting principles generally accepted in the United States.

“I am confident that the GCEDC internal control policies are functioning correctly and that our finance team monitors the finances in accordance with the highest accounting principles,” said Steve Hyde, president and CEO of the GCEDC. “GCEDC CFO, Lezlie Farrell, who is a Certified Public Accountant, does an outstanding job monitoring all of our agency procurement and financial activities."

The financial statements of the GCEDC are reported using the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash transaction takes place. For example, expenditures are recorded in the period that services are provided, even though corresponding payment for those services may not be made until a later date.

The GCEDC finished 2014 with a net operating loss of $14,990 as compared to a net operating loss of $198,403 in 2013. As expenses remained consistent overall in 2014, revenues from project fees were significantly higher in 2014 as compared to 2013. The largest project in 2014 was the Yancey’s Fancy project. Yancey’s began construction on their 112,000-square-foot facility in the Buffalo East Technology Park, located in Pembroke, NY, in the spring of 2014. Overall, Yancey’s Fancy will invest more than $20 million and create 50 new jobs at the facility.

“The GCEDC budgeted for a loss of $175,000 for 2014 and I am pleased with our year end results,” said CFO Farrell. “At the end of 2014 there were several attraction projects in the sales pipeline that still remain active today. We anticipate that one of these major attraction projects will close in 2015 and bring significant investment and jobs to the region."

March 31, 2015 - 10:33am
posted by Howard B. Owens in business, GCEDC, darien lake, Darien, darien lake theme park.

Press release:

The Board of Directors of the Genesee County Economic Development Center (GCEDC) approved a final resolution for an application for assistance from Darien Lake Theme Park Resort at the March 30, 2015, board meeting. 

Darien Lake Theme Park Resort is planning to add new attractions for its 2015 operating season, including a 75-foot “super loop” thrill ride and dual waterslide complex speed ride.
The company was approved for a sales tax exemption of $180,000 and the planned capital investment will total an estimated $2.5 million.

“The tourism industry is extremely competitive so enhancing our attraction through new rides and investments in other amenities is critically important to our business operations,” said Chris Thorpe, general manager, Darien Lake. “The support of the GCEDC allows us to make these investments and maintain our reputation as a popular and fun tourism destination and remain competitive against other attractions in the Northeast.”

“Darien Lake is one of the most impactful economic contributors to our local economy, providing over 400 full-time equivalent jobs and approximately 2,000 seasonal positions each year,” said Wallace Hinchey, GCEDC Board chairman. “It is in the best interest of our community to help Darien Lake remain a popular tourism destination and the resulting economic benefits in doing so.”

March 27, 2015 - 3:00pm
posted by Howard B. Owens in business, GCEDC, darien lake, Darien.

Press release:

The Board of Directors of the Genesee County Economic Development Center (GCEDC) will consider a project from Darien Lake Theme Park Resort at its March 30 board meeting.

Darien Lake Theme Park Resort is planning to add several new attractions, including a 75-foot “super loop” thrill ride and dual waterslide complex speed ride for the 2015 operating season. The projected capital investment is approximately $2.5 million. The company is seeking final approval of a sales tax exemption of $180,000.

The GCEDC Board meeting will take place at 10 a.m. and is open to the public. Meetings are held at the first-floor Innovation Zone Conference Room at MedTech Centre -- 99 MedTech Drive, Batavia, across from Genesee Community College.

March 24, 2015 - 5:20pm
posted by Howard B. Owens in GCEDC, National Grid, Upstate Medtech Center, Innovation Zone.

Press release:

The Genesee Gateway Local Development Corporation (GGLDC), the real estate arm of the Genesee County Economic Development Center (GCEDC), recently received a grant of $50,000 from National Grid that was used to build the Innovation Zone.

The Innovation Zone has been designed to be an affordable, high quality networking and incubator space and will be located in the 34-acre Upstate MedTech Park in Batavia. It is strategically located across from Genesee Community College, which was recently designated as a START UP NY site. The grant from National Grid is through the company’s CleanTech Incubation Program.

“The concept of creating a space that not only brings entrepreneurs and start-up businesses together, but also allows these individuals to collaborate, has the potential to enhance economic development opportunities in Genesee County even further,” said Dennis Elsenbeck, regional executive for National Grid in Western New York. “From the Genesee Valley Agri-Business Park to STAMP, economic development officials in Genesee County have proved that the ‘build it and they will come’ approach works and I am confident it will in this instance.”

To accommodate an existing tenant of the Upstate MedTech Park, construction included the addition of 1,075 square feet of space to expand opportunities for high-tech manufacturing and a loading dock facility. The GGLDC also plans to build out 2,300 square feet of vacant space to increase marketability of the site and allow for a quicker turnaround of market demands. The total capital investment of the project is $155,000 and is expected to create 10 new jobs over the next five years and three new jobs within the first year.

“The new incubator will support the expansion of the Upstate MedTech Park, which will help us attract entrepreneurs in emerging industries such as life sciences and medical device manufacturing among others,” said Steve Hyde, president and CEO of the GCEDC. “This grant is just another example of National Grid’s tremendous support of economic development initiatives in Genesee County.”

National Grid officials and local and state government representatives will participate in a ribbon-cutting event on April 10 in the Innovation Zone to formally unveil the new facility and amenities.

The National Grid CleanTech Incubation Program supports the development of a self-sustaining entrepreneurial and innovation “ecosystem.” The program is intended to stimulate and support the growth of new businesses that, in turn, generate jobs and investment in National Grid’s Upstate New York service territory. Information about National Grid’s suite of economic programs is available at www.shovelready.com

March 7, 2015 - 8:36am
posted by Howard B. Owens in batavia, business, GCEDC.

Howard Zemsky was the keynote speaker Friday at the Genesee County Economic Development Center's annual meeting, which was held at Batavia Downs this year. He is acting president, CEO and commissioner of Empire State Development, New York’s economic development agency.

Some 300 people attended, including business and economic development leaders from Erie and Monroe counties.

Zemsky's primary message was that Gov. Andrew Cuomo fully supports economic development in Upstate, in Genesee County and is particularly bullish on the STAMP project.

"We're all in," Zemsky said. "We love what you're doing. It's extremely impressive. I couldn't be more proud of what you have accomplished, and your vision and your commitment and your collaboration on your strategic approach. The governor is all in on what you're doing and is very excited about it."

He noted that Brooklyn is undergoing a renaissance, driven by people like his 22-year-old son who now think urban areas such as Brooklyn are the place to be. If Brooklyn can experience a turnaround, so can Batavia, he said.

"I'll tell you this, if Brooklyn can become cool, Batavia can become the center of the next generation of chip fabrication. Period. End of discussion," Zemsky said. "Because compared to Brooklyn being cool, Batavia being center of a high-tech world is a relative layup."

GCEDC Steve Hyde also provided his annual update on the progress of the GCEDC over the past year and the projects it continues to work on, such as STAMP and the Genesee Valley Agri-Business Park.

March 5, 2015 - 5:36pm
posted by Howard B. Owens in business, GCEDC, STAMP.

From The Batavian's news partner, WBTA:

An announcement of a company to occupy Genesee County’s long anticipated STAMP project in the Town of Alabama could be just weeks away.

The Science and Technology Advanced Manufacturing Park has been in the works for years and holds the prospect of hundreds, if not thousands, of high-paying jobs.

Steve Hyde is the president of the county’s Economic Development Center:

“We are weeks away on the final decision on the one we have been working on, less than weeks away. This has been over 12 months we have been working the sales process on this one project. It has been long with multiple versions and very competitive. We have competed against 54 different sites and eight states.”

Hyde issued his annual report to the county legislature’s Ways and Means Committee last night.

The committee went on record opposing a change in state industrial development regulations that would transfer final decisions on state tax breaks from local IDAs to Albany.

If you've downloaded the Reacht App for your smart phone, at some point within the next day, we'll ask you this poll question: Do you think a manufacturing company will commit to STAMP within the next few weeks? To download the app, click here.

March 3, 2015 - 7:33pm
posted by Howard B. Owens in business, GCEDC, darien lake, Darien.

Press release:

The Board of Directors of the Genesee County Economic Development Center (GCEDC) will consider a project from Darien Lake Theme Park Resort at its Thursday, March 5, board meeting.

Darien Lake Theme Park Resort is planning to add several new attractions, including a 75-foot “super loop” thrill ride and dual waterslide complex speed ride for this operating season. The projected capital investment is approximately $2.5 million.

The company is seeking a sales-tax exemption of $180,000, which would require a public hearing should the board approve the application.

The GCEDC Board meeting will take place at 4 p.m. and is open to the public. Meetings are held at the Dr. Bruce A. Holm Upstate Med & Tech Park - 99 MedTech Drive, Batavia, on the first floor across from Genesee Community College.

March 2, 2015 - 3:11pm
posted by Howard B. Owens in business, GCEDC.

Press release:

For the 11th consecutive year Site Selection Magazine has recognized Batavia/Genesee County as one of the Top Micropolitans in the United States. Among the criteria for receiving the recognition includes capital investment and job creation. Through the Genesee County Economic Development Center (GCEDC), approximately $58.07 million in new capital investments were made in the county creating more than 140 new jobs in 2014.

“Throughout 2014, we continued to see tremendous growth in Genesee County as a result of our strategic business attraction and expansion efforts to generate capital investment and create more job opportunities,” said Steve Hyde, president and CEO of the GCEDC. “Further development of the Science and Technology Advanced Manufacturing Park (STAMP), among several other shovel-ready sites, will remain a top priority on our agenda as we move forward into 2015.”

In 2014 the GCEDC achieved 20 project “wins,” and celebrated the $20 million expansion of Yancey’s Fancy, one of Western New York’s most prominent food manufacturing companies. Yancey’s investment will result in a new 112,000-square-foot building at the Buffalo East Technology Park in Pembroke and will create 50 new jobs in the region. Other significant projects the GCEDC assisted with were the expansion of Liberty Pumps in Bergen and US Gypsum in Oakfield.

The ranking of Top Micropolitans is based on cities of 10,000 to 50,000 people which cover at least one county. To make the rankings, the projects must be at least $1 million in value, employ at least 50 people, or involve construction of at least 20,000 square feet. There are approximately 576 micropolitans in the United States according to Site Selection Magazine. Batavia was tied for fourth place in the national rankings.

The Genesee County Economic Development Center will unveil its 2014 annual report highlighting its project “wins” at the organization’s annual meeting on Friday, March 6th, at noon at Batavia Downs.

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