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Incentives package to lure Samsung to Genesee County could exceed $900 million

The package of state and local incentives could exceed $900 million in tax breaks, construction of utilities, job creation grants and low cost water and hydropower.

ALABAMA, N.Y. — Will one of the largest incentive packages for a Western New York development be enough to lure Samsung's proposed $17 billion semiconductor production facility to Genesee County’s STAMP site?

The package of state and local incentives could exceed $900 million in tax breaks, construction of utilities, job creation grants and low cost water and hydropower.

To put that in perspective, the total is about 20% more than what New York state provided to Tesla to open its solar panel production plant in Buffalo’s RiverBend complex. New York invested $750 million from the initial Buffalo Billion economic recovery program to build and help equip the 1 million square foot South Park Avenue plant. The Samsung plant, at 7 million square feet, would be seven times larger than the Tesla plant in South Buffalo.

You can read the full story from our partners at Buffalo Business First here.