GCEDC approves PILOT reassignment for Upstate Niagara, OKs GAIN loan for NY Craft Malt
The Genesee County Economic Development Center (GCEDC) voted Thursday to approve reassigning the terms of previously approved PILOT (Payment In Lieu Of Taxes) agreements for Upstate Niagara Cooperative.
The company recently announced the purchase of the former Alpina Foods manufacturing facility in the Genesee Valley Agri-Business Park.
Under the PILOT agreements, local taxing jurisdictions will receive $378,010 in revenues over the life of the PILOT. Upstate Niagara Cooperative plans to invest $22 million in the facility to meet the company’s operational needs.
“Genesee County has benefited greatly from the repeated investments by food and beverage companies into dairy production facilities,” said GCEDC Board Chairman Paul Battaglia. “The Genesee Valley Agri-Business Park provides excellent opportunities for the Upstate Niagara Cooperative and businesses in the dairy and food industries to succeed.”
The GCEDC Board also approved a loan from the Growing the Agricultural Industry Now! (GAIN) fund for New York Craft Malt. The $82,000 GAIN loan is part of a $206,968 investment for the purchase of new equipment and building improvements at the company’s facility at 8164 Bank Street Road in the Town of Batavia. The project will create two new jobs.
“NY Craft Malt’s project builds on our successful GAIN Loan Fund program, which supports the growth of agricultural products and businesses in Genesee County,” said GCEDC President and CEO Steve Hyde. “Low-interest GAIN loans have enabled producers to invest over $1 million into dairy, maple and malting operations.”
The NY Craft Malt is the fifth project in Genesee County to receive a GAIN loan. Previous recipients include Cottonwood Farms in Pavilion, Sandvoss Farms in East Bethany, and Junior’s Maple in Batavia.