Press Release:
The Genesee County Economic Development Center (GCEDC) will consider an initial application for incentives from Edwards Vacuum, part of the Atlas Copco Group, for the $212 million first phase of the company’s semiconductor dry pump manufacturing project at the Science Technology and Advanced Manufacturing Park (STAMP) in the town of Alabama, NY. The GCEDC Board of Directors will review and consider the application at its January 12, 2023 meeting.
Edwards Vacuum’s “factory of the future” is being constructed to serve the semiconductor industry and advanced manufacturing sectors and would create approximately 343 new high-paying jobs. The new facility is projected to generate more than $13.4 million in future revenues to the Town of Alabama, Genesee County, Oakfield-Alabama School District and the Alabama Fire Department over 20 years.
“Thanks to Senator Schumer and his leadership in passing the Federal CHIPS and Science Act and New York Governor Kathy Hochul’s advocacy in passing New York's Green CHIPS legislation, we are bringing a ‘factory of the future’ to STAMP now,” said GCEDC President and CEO Steve Hyde.
Atlas Copco USA Holdings Inc. & Subsidiaries (Edwards Vacuum) is requesting sales tax exemptions with estimated savings of $4.34 million and a 20-year property tax abatement with approximately $12.85 million in estimated savings. The project is estimated to generate $644 million in payroll and projected future municipal revenues, a $39 benefit to the local economy for every $1 of public investment.
If the incentives application is accepted, a public hearing will be scheduled on the proposed project agreements in the town of Alabama. The GCEDC Board meeting is Thursday, January 12, 2023 at 4 p.m. at 99 MedTech Drive in Batavia.
2021 File Photo of Sen. Charles Schumer and Steve Hyde, CEO of Genesee County Economic Development Center during an announcement about Edward's Vacuum, by Howard Owens.
