GCEDC board to consider assistance for $233 million green energy facility at WNY STAMP
The Genesee County Economic Development Center (GCEDC) Board of Directors will consider accepting an initial application for incentives for Plug Power’s proposed $232.7 million green energy technology facility at Western New York Science & Technology Advanced Manufacturing Park (STAMP) at its March 4 board meeting.
The facility would produce green hydrogen through an electrolysis process of water utilizing clean hydropower. The production facility would produce approximately 45 metric tons of liquid hydrogen on a daily basis and sold to customers to replace fossil fuels in the transportation sector.
Construction is anticipated to begin this summer.
Plug Power would initially create approximately 68 new jobs at an average starting salary of approximately $70,000 plus benefits, totaling over $102 million over 20 years.
The company is requesting $118.2 million in sales and property tax exemptions from the GCEDC. For every $1 of public benefit requested, more than $4.3 of investment is proposed by the company or $520 million over 20 years.
Additionally, under the terms of a proposed 20-year PILOT agreement, Plug Power would pay approximately $2.3 million annually to support local municipalities and infrastructure, including Genesee County, the Town of Alabama, and the Oakfield-Alabama Central School District.
Plug Power will also invest $55 million for the construction of a 345/115KV electric substation in partnership with the New York Power Authority and National Grid to support future expansion and growth opportunities at STAMP.
Plug Power and New York Governor Andrew M. Cuomo announced the proposed project on Feb. 25, which is also being supported by the New York Power Authority and Empire State Development.
A public hearing on proposed incentives will be scheduled if the Board accepts the project application.