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Genesee County Economic Development approves tax breaks for two businesses
Genesee County Economic Development approves tax breaks for two businesses
Expansion and/or improvement projects by Gateway GS LLC and Tenney Coin Laundry were approved for incentives by the Genesee County Economic Development Center (GCEDC) on Thursday.
Gateway GS has plans to invest $450,000 to build out the interior of an existing 27,000-square-foot spec building that the company built in 2018 at Gateway II Corporate Park in the Town of Batavia. The project will create five new jobs. Gateway II is a Gallina Development Corp. entity.
In return, Gateway will receive sales, mortgage and property tax exemptions totaling approximately $206,000. For every dollar of public benefit, the company will invest approximately $12.61 into the local economy.
The new space will be leased for warehouse, distribution, light manufacturing, technology and commercial operations, and tenants are already lined up, the GCEDC said. There also are plans for four additional buildings.
Tenney Coin Laundry, located on Ellicott Street in the City of Batavia, will receive a tax abatement of approximately $15,832 on the purchase of $197,896 in new equipment. For every dollar of public benefit, Tenney is investing $56.70 into the local economy, according to the GCEDC.
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