GCEDC board approves incentives for Yancey's Fancy and Gateway GS

Sep 8, 2017

 

Press release:

The Genesee County Economic Development Center approved incentives for development projects by Yancey's Fancy in Pembroke and Gateway GS LLC in the Town of Batavia at the agency’s Sept. 7 board meeting.

Yancey's Fancy is investing $5.5 million to renovate the original Kutters Cheese facility at 857 Main St. in Pembroke. The renovations will allow the company to nearly double its natural cheese making capacity by expanding the facility by 6,000 square feet, bringing the total size to 34,000 square feet. The project is anticipated to create 15 new jobs.

Yancey's Fancy was approved for approximately $173,000 in sales, and property tax exemptions. For every $1 of public investment, Yancey's Fancy will invest $117 into the local economy.

Gateway GS LLC is investing $2.6 million to construct a 25,000-square-foot shell spec built facility intended to attract warehouse, distribution, light manufacturing, technology and office space tenants. The building will be engineered as a shell so that prospective tenants will control the buildout, making it more flexible as compared to fitting out the entire building. It is expected that a complete build-out will occur in five phases.

Gateway GS LLC was approved for approximately $140,000 for sales tax and mortgage tax incentives. For every $1 of public investment, Gateway GS LLC will invest $6.90 into the local economy.

“As important as it is to bring new companies and investment to our community such as Gateway GS, it is just as important to help companies such as Yancey's Fancy that are already here to grow and retain and create new jobs,” said GCEDC Board Chairman Paul Battaglia.

By Howard B. Owens, The Batavian