WindTamer Corp. has been awarded a package of state and local incentives valued at approximately $1.5 million. The package is in support of the company's proposed expansion at its Rochester, N.Y., facility. The project includes leasehold improvements, acquisition and installation of machinery and equipment, training of employees and working capital.
Empire State Development has awarded the company up to $900,000 in tax-credit assistance through its Excelsior Jobs Program, which may instead be received in cash under certain circumstances. The City of Rochester's Neighborhood and Business Development Department also provided a proposal letter for a potential low-interest loan subject to the appropriate review and approvals.
Monroe County's Department of Planning and Development also provided a letter offering up to $400,000 in assistance through a variety of programs, such as sales tax incentives and low-interest loans. The estimated total project is expected to result in a creation of at least 91 new jobs over a five-year period, with existing employees being retained, according to WindTamer.
SOURCE: WindTamer Corp.