{"id":51339,"date":"2024-03-08T13:07:19","date_gmt":"2024-03-08T18:07:19","guid":{"rendered":"https:\/\/videonewsservice.net\/?p=51339"},"modified":"2024-03-08T13:07:19","modified_gmt":"2024-03-08T18:07:19","slug":"genesee-county-hp-hood-120-million-expansion-moves-ahead-with-support-of-gcedc","status":"publish","type":"post","link":"https:\/\/videonewsservice.net\/index.php\/2024\/03\/08\/genesee-county-hp-hood-120-million-expansion-moves-ahead-with-support-of-gcedc\/","title":{"rendered":"GENESEE COUNTY\/HP Hood $120 Million expansion moves ahead with support of GCEDC"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

File photo<\/p>\n\n\n\n

Press release<\/p>\n\n\n\n

Expansion will create 48 new jobs and generate an economic impact of almost $50 million<\/em><\/strong><\/p>\n\n\n\n

BATAVIA, NY \u2013The Genesee County Economic Development Center (GCEDC) Board of Directors approved a final resolution for HP Hood\u2019s $120 million proposed expansion project at its meeting on Thursday, March 7, 2024.<\/p>\n\n\n\n

The 32,500 sq. ft. expansion project pledges to create 48 new jobs while retaining 455 FTEs adding to 1,000+ professionals in the food processing industry and cluster with over 1.2 million sq. ft. of food and beverage facilities at the Genesee Valley Agri-Business Park.<\/p>\n\n\n\n

\u201cThe dairy hub of the northeast at the Genesee Valley Agribusiness Park has built itself upon the qualities of our workforce, our dedicated farming families, and our strategic location close to major consumers,\u201d said GCEDC President and CEO Steve Hyde. \u201cThe economic infrastructure generated by shovel-ready sites and workforce development programs has set up HP Hood and our robust food and beverage industry for sustained success.\u201d<\/p>\n\n\n\n

HP Hood\u2019s expansion accommodates 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.<\/p>\n\n\n\n

\u201cThe addition of another generational investment will result in the Genesee Valley Agri-Business Park delivering more benefits to our community and agricultural sector,\u201d added Hyde.<\/p>\n\n\n\n

Genesee County\u2019s shovel-ready sites have been designed and strategically located at key transportation routes with access to population centers across the Northeast and Midwest and infrastructure corridors, including access to low-cost hydropower.<\/p>\n\n\n\n

HP Hood\u2019s investment is projected to result in a local economic impact of $49.87 million in wages and tax revenue. The GCEDC approved 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 bringing the value of the proposed financial agreements to approximately $5.6 million. For every $1 of public benefit, HP Hood is investing $16 into the local economy.<\/p>\n","protected":false},"excerpt":{"rendered":"

File photo Press release Expansion will create 48 new jobs and generate an economic impact of almost $50 million BATAVIA, NY \u2013The Genesee County Economic Development Center (GCEDC) Board of Directors approved a final resolution for HP Hood\u2019s $120 million proposed expansion project at its meeting on Thursday, March 7, \u2026<\/p>\n

Continue reading<\/i><\/a><\/p>\n","protected":false},"author":1,"featured_media":51255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[23],"tags":[4184],"class_list":["post-51339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-genesee-county","tag-hp-hood-expansion"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p8eTP4-dm3","jetpack-related-posts":[{"id":51254,"url":"https:\/\/videonewsservice.net\/index.php\/2024\/03\/05\/genesee-county-hp-hoods-120-million-expansion-to-be-considered-at-gcedc-board-meeting-on-thursday\/","url_meta":{"origin":51339,"position":0},"title":"GENESEE COUNTY\/HP Hood’s $120 Million expansion to be considered at GCEDC Board Meeting on Thursday","author":"aka","date":"March 5, 2024","format":false,"excerpt":"(File photo) Company proposing to build 32,500 sq. ft. facility to accommodate upgrades and new product line; 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