A Massachusetts-based solar tech company will be the first tenant of the Western New York Science, Technology, and Advanced Manufacturing Park in rural Genesee County. The company could invest as much as $700 million in the facility, and has promised to create at least 600 jobs in exchange for a generous package of tax incentives from the state and Genesee County.
State officials announced the agreement with the company, 1366 Technologies, during a press conference this afternoon. The company produces silicon wafers for solar cells using a proprietary process that it says costs less and generates less waste than common solar wafer manufacturing techniques. It'll set up its first large-scale factory at the STAMP site in the Town of Alabama.
A press release from Governor Andrew Cuomo's Office says that the company will build out its facility in phases, and that it'll make a $100 million initial investment. The Genesee County Economic Development Center will build the 130,000-square-foot facility and then lease it to the company; the lease will last for 10 years.
Empire State Development, the state's economic development arm, has approved tax incentives worth up to $56.3 million for the project, and the factory will also get low-cost electricity from the New York Power Authority. Additionally, economic development officials in Genesee County are considering tax incentives worth up to $41.7 million. Federal, state, and local governments have also spent several million dollars running water, gas, and electricity to the site, which used to be farmland.