Projects will generate over $172.6 million of economic benefits to Genesee County and other communities
Press release
BATAVIA, NY – The Genesee County Funding Corporation (GCFC), an affiliate of the Genesee County Economic Development Center (GCEDC), approved tax-exempt bonds to support projects by Rochester Regional Health (RRH) expanding healthcare services in Genesee County and throughout New York State at its April 28th board meeting.
The tax-exempt bonds approved by the GCFC support the construction of a 105,393 square-foot healthcare facility on Oak Orchard Road in the Town of Batavia and 56,147 square feet of related ground floor parking.
In Batavia, Rochester Regional Health will offer outpatient cardiac care, women’s health services, primary care, urgent care, outpatient surgical services, gastroenterology, outpatient radiology and other outpatient services.
The Batavia project is projected to create approximately 70 full-time equivalent jobs with an average salary of $110,000, and over 200 construction jobs.
In addition to new bonding, the project also includes improvements of machinery, equipment and other tangible personal property, the refunding or refinancing of all or a portion of the outstanding principal amounts of existing bonds, and the construction of a 96,189 square-foot healthcare facility in the town of Potsdam in St. Lawrence County.
The projects will generate over $172.6 million of economic benefits to Genesee County and other communities over 10 years, including $161.4 million of payroll for temporary and ongoing jobs, and $11.2 million of tax revenues.
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About the Genesee County Economic Development Center (GCEDC): The GCEDC is the primary economic development agency in Genesee County, NY. The GCEDC’s mission is to facilitate local economic growth and development which fosters investment and job creation for the benefit of our residents and children. We do this by offering financial assistance, real estate solutions, workforce development programming and placemaking options in order to build back local and regional manufacturing and by supporting the continued growth and success of our local businesses all across Genesee County. Genesee County has been recognized for 18 consecutive years by Site Selection Magazine for having among the strongest business growth in the U.S. among peer micropolitan communities. Led by projects at the Western New York Science & Technology Advanced Manufacturing Park and the Genesee Valley Agribusiness Park, Genesee County has welcomed over $1.5 billion of capital investment since 2003.
About the Genesee County Funding Corporation: The GCFC was created to assist local economic development efforts by serving in a conduit financing capacity enabling the issuance of taxable and non-taxable debt to benefit the growth, expansion, on-going operations and continued viability of non-profit business enterprises in Genesee County thereby helping to maintain a sustainable long-term economy.