GCEDC will hold public hearing on 1366 Technologies application
The Board of Directors of the Genesee County Economic Development Center (GCEDC) authorized a public hearing for 1366 Technologies, Inc., and approved a final resolution for an amendment to an original application for assistance from Manning Squires Hennig Co., Inc., at the agency’s Dec. 17 board meeting.
1366 Technologies, Inc., plans to build its first commercial Direct Wafer™ production plant at the Science and Technology Advanced Manufacturing Park (STAMP) in the Town of Alabama.
The project includes the construction of a new 130,000-square-foot manufacturing facility that will grow to eventually create 1,000 full-time jobs and approximately another 5,000 construction and indirect and induced jobs. The total economic impact is preliminarily estimated to be in the range of $1.5 billion over the next 10 years.
1366 Technologies, Inc., is seeking approval for approximately $34.7 million in sales, mortgage and property tax exemptions. The planned capital investment will total approximately $700 million.
“As the largest economic development project in the history of Genesee County, 1366 Technologies will undoubtedly be a game changer in establishing our region as a major high-tech manufacturing hub,” said GCEDC Chairman Paul Battaglia. “This project also will create hundreds of manufacturing jobs and indirect supply chain jobs not to mention hundreds of jobs throughout the construction process.”
The GCEDC board also approved amended incentives for Manning Squires Hennig Co., Inc., a well-known general contractor in Finger Lakes and Western New York regions. The company will expand its corporate offices and maintenance facilities in the Town of Batavia by up to 5,000 square feet, as well as renovate its existing shop and office space.
The project was approved for sales tax, mortgage tax and property tax exemptions totaling $215,529 in incentives. The project’s capital investment is approximately $2.2 million.
“We are pleased to see continued investments being made to improve the facilities of existing companies like Manning Squires Hennig in the Town of Batavia,” said Steve Hyde, president and CEO, GCEDC. “We remain committed to help existing businesses in the County expand their operations in our ongoing efforts to enhance the business climate throughout the region.”
In other agency business, the board approved a 2-percent salary increase for all GCEDC staff for 2016, as well as an increase for the GCEDC office manager.