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First phase of Edwards Vacuum’s $209 million project receives tax exemptions
First phase of Edwards Vacuum’s $209 million project receives tax exemptions
Listen to this articleThe Genesee County Economic Development Center Board recently approved financial agreements to support Edwards Vacuum, part of the Atlas Copco Group, for the first phase of the company’s $209 million semiconductor dry pump manufacturing facility at the Science Technology and Advanced Manufacturing Park in the town of Alabama.
Atlas Copco USA Holdings Inc. and subsidiaries had requested, and received, sales tax exemptions of roughly $4.34 million and a 20-year property tax abatement of some $12.85 million.
The Edwards Vacuum’s facility will serve the semiconductor industry and advanced manufacturing sectors and create some 343 jobs.
The facility is projected to generate more than $13.4 million in future revenues to the town of Alabama, Genesee County, Oakfield-Alabama School District and the Alabama Fire Department over 20 years.
The project is estimated to generate $644 million in payroll and projected future municipal revenues and a $39 benefit to the local economy for every $1 of public investment, the GCEDC reported.
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