GCEDC to consider Plug Power incentives for new STAMP facility

Velvet Spicer//March 1, 2021//

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As part of its plan to locate at Genesee County‘s Western New York Science & Technology Advanced Manufacturing Park (STAMP), Plug Power Inc. has requested incentives from the Genesee County Economic Development Center.

GCEDC‘s board of directors will consider a request for $118.4 million in sales and property tax exemptions. For every $1 of public benefit requested, more than $4.30 of investment is proposed by the company, equating to $520 million over 20 years.

Under the terms of a proposed 20-year Payment in Lieu of Taxes (PILOT) agreement, Plug
Power would pay roughly $2.3 million annually to support local municipalities and infrastructure, including Genesee County, the town of Alabama and the Oakfield-Alabama Central School District.

Plug Power has proposed a $232.7 million green energy technology facility at STAMP, which initially would create nearly 70 new jobs at an average starting salary of roughly $70,000 plus benefits, totaling over $102 million over 20 years.

The facility would produce green hydrogen through an electrolysis process of water using clean hydropower. The production facility would produce roughly 45 metric tons of liquid hydrogen on a daily basis and sold to customers to replace fossil fuels in the transportation sector.

Plug Power also will invest $55 million for the construction of a 345/115KV electric substation in partnership with the New York Power Authority and National Grid to support future expansion and growth opportunities at STAMP.

Construction is expected to begin this summer.

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