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
Genesee County Economic
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 electrical user is paying this 50,000 dollars.This is why electrical rates are so high on top of all the taxes that we pay for electric.
The GCEDC should be thanking all of us who are fronting this money..Just another way IDA's take money out of your pocket and give to million dollar corporations...more corporate welfare.