(File photo)
Company proposing to build 32,500 sq. ft. facility to accommodate upgrades and new product line; would create 48 new jobs
Press release
BATAVIA, NY –The Genesee County Economic Development Center (GCEDC) Board of Directors will consider a final resolution for HP Hood’s $120 million proposed expansion project at its meeting on Thursday, March 7, 2024.
Announced by New York State Governor Kathy Hochul last fall, HP Hood plans to expand its footprint at the Genesee Valley Agri-Business Park. The project includes the construction of a 32,500 sq ft expansion to accommodate its automatic storage and retrieval system (ASRS) refrigerated warehouse. The project will also include new batching and processing systems and other upgrades which will allow the company to increase capacity and begin a new production line.
“The agricultural sector is a backbone of our regional and state economy as evidenced by the significant investment and jobs provided by companies such as HP Hood, Upstate Niagara Cooperative, and O-AT-KA Milk Products among many others,” said GCEDC President and CEO Steve Hyde. “The growth of the sector here is the result of the Genesee Agri-Business Park which was constructed in 2011 and now is almost at full build-out.”
The expansion would create 48 new jobs while retaining 455 full-time positions as part of the company’s 1,200 employees throughout New York State. Investments at the Genesee Valley Agri-Business Park have resulted in a cluster with over 1.2 million sq. ft. of food and beverage facilities employing over 1,000 professionals in the food processing industry, the leading employment sector in Genesee County and GLOW region.
The company is seeking sales tax exemptions estimated at $4.52 million, a property tax abatement estimated at $549,705 based on an incremental increase in assessed value, and a mortgage tax exemption estimated at $536,000.
The expansion is projected to generate a return on investment of $16 for every $1 of public benefit, resulting in a local economic impact of approximately $49.87 million in wages and tax revenues.
The March 7, 2024, GCEDC board meeting will be held at 4 p.m. at the MedTech Center’s Innovation Zone, 99 MedTech Drive, Batavia. Meeting materials and links to a live stream/on-demand recording of the meeting is available at www.gcedc.com.