posted on June 03, 2011 18:03
The Genesee County Economic Development Center has announced the final benefit package for international dairy producer Alpina Foods.
Alpina is the Columbian company that is to be the first client in GCEDC’s Genesee Valley Agri-Business Park between Routes 5 and 63 in Batavia. Alpina plans to build a yogurt factory there.
The package includes $767,096 dollars in tax breaks and incentives., including $458,346 in property tax exemptions; $260,000 in sales tax exemptions; and $48,750 in mortgage tax exemptions.
Alpina is contributing a total capital investment of $15,000,000 in the project. They expect to create 50 jobs in the local community. According to GCEDC's Direct Economic Impact Analysis, for every $1 of tax incentives they receive, Alpina is investing $40 back into the local economy.
This statement is included in the GCEDC Project Summary:
"In addition to GCEDC support of the project, OCR is supporting the project with up to $750k grant/loan program along with ESD Excelsior Program for wage tax credits valued at $288k. Also, the utility companies have incentives valued at $250k from National Grid and $100k from National Fuel Gas."