x
Breaking News
More () »

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.

    

Paid Advertisement

Before You Leave, Check This Out