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Another subsidized tenant for STAMP

Nothing is getting built at the industrial park in Genesee County without tax breaks. The latest company to sign on is getting $39 million and there's more to come.
Credit: WGRZ

GENESEE COUNTY, N.Y. — A remote industrial park in Genesee County will soon have its second tenant: Edwards Vacuum, a company that manufactures equipment used in the semiconductor industry.

But luring Edwards Vacuum, a British company, to the Science, Technology and Advanced Manufacturing Park, or STAMP, has come at a cost: $39.2 million in taxpayer subsidies. That’s in exchange for 600 jobs over the next decade, with 343 being hired in the next three years.

And that’s just the beginning. In addition to $22 million in subsidies from Empire State Development, New York’s economic development arm, and $17.2 million in property and sales tax breaks from Genesee County, Edwards Vacuum is expected to apply for CHIPS Act incentives, as well as discounted hydropower from the New York Power Authority.  You can read the full story on Investigative Post.

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