Empire State Development Corp.’s board Wednesday in New York City approved funding totaling $18.6 million. Among the local beneficiaries are a high technology manufacturing site in Genesee County and an expansion of Monro Muffler Brake Inc.’s Rochester headquarters.
The funding statewide will lead to the creation and retention of more than 400 jobs and lay the groundwork for the creation of hundreds of new jobs in the near future, ESDC officials said.
The Western New York Science, Technology and Advanced Manufacturing Park in the Genesee County town of Alabama is slated to receive a $500,000 grant and loan of $1.1 million.
Called STAMP, the facility will create significant opportunities for semiconductor, flat-panel display, photovoltaic and bio-manufacturing projects.
The Genesee Gateway Local Development Corp., which serves as the recipient of ESD’s grant and loan, was established in 2004 to handle industrial park development.
This project is expected to position Western New York as a hub for advanced technology manufacturing and spur significant regional economic growth. There is potential for up to 1,200 jobs at the STAMP site by 2016, and more than 9,300 projected jobs at full build-out in 2032, officials said.
The board approved an economic development fund grant of up to $400,000 for a project involving the expansion of Monro’s Rochester headquarters facility. The plan is to add an additional 15,000 square feet of office space and 55,000 square feet of warehouse space, which now totals 175,000 square feet.
The company also installed furnishings, fixtures and equipment, including information technology and heating, ventilation and air conditioning upgrades. The project was completed in December 2012, and will create 20 new jobs and retain 190 existing jobs in the county.
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