The Genesee County Economic Development Center (GCEDC) Board of Directors approved incentives for a $3.72 million financial investment by Ivy Village Corp. that would create 20 units of market-rate senior housing in the village of Le Roy at its board meeting on Thursday, August 4, 2022.
The GCEDC board also accepted an initial application for a proposed project by Nexgistics to construct a $17.6 million warehouse distribution center and on 30 acres of land on Vision Parkway in the town of Pembroke. The 140,000 sq. ft. facility also would serve as national headquarters for the company.
Nexgistics is a third-party logistics provider specializing in consumer electronics, sporting and outdoor goods, e-bikes and related products with operations in New York and Nevada. The project enables Nexgistics to retain 21 full-time positions and create three new jobs.
Nexgistics has requested sales tax exemptions estimated at $812,000, a property tax abatement estimated at $1,116,360, and a mortgage tax exemption estimated at $154,650. For every $1 of public benefit the company is investing $7 into the local economy.
“Nexgistics provides another example of how Genesee County and the Buffalo-Rochester Tech Corridor provide the ideal location for industries that need shovel-ready sites, a trained workforce and a strong logistics network,” said Steve Hyde, Genesee County Economic Development Center president and CEO.
Ivy Village Corp. plans to build market rate residential units in three phases with each phase calling for the construction of 10 duplex residences. The development is located on 16 acres off Lake Street with easy access to village amenities and is a twenty-minute drive to downtown Rochester. Ivy Village Corp. has requested approximately $805,000 in mortgage, property and sales tax incentives. The project's fiscal impacts (indirect payroll and tax revenues) are estimated at over $3.5 million over the PILOT's term, with $6 of local benefits from the project for every $1 of public investment.
“Housing at all levels is a critical need across Genesee County,” Hyde continued. “This project while providing new housing options to our senior population, opens up existing housing stock for the next generation of homeowners.”
A public hearing will be scheduled for Nexgistic’s proposed financial assistance.