NEW YORK STATE URBAN DEVELOPMENT CORPORATION d/b/a ...

Property tax rates are projected to decrease due to significant increases in the tax base
from STAMP.
The Town of Alabama could realize a decrease in the tax rate per $1,000 in value from
$1.11 to $0.11.
Genesee County could realize a decrease in the tax rate per $1,000 in value from $9.82
to $7.97.
Oakfield-Alabama School District could realize a decrease in the tax rate per $1,000 in
value and $23.73 to $16.94.
Total recurring annual State income taxes are projected to equal approximately $33.6
million and full build-out and occupancy.
Retail operations are projected to generate annual sales taxes of $2.3 million each to
the County of Genesee and the State of New York.
Public Need and Benefits
The Project’s central purpose is to play a significant role in reversing a trend of economic
stagnation that has affected the Western New York region in recent years. The need for
reversing this trend may be seen locally in the 2010 US Census figures indicating declines in
population for both the Town of Alabama and Genesee County over the past ten (10) years.
STAMP will result in a number of benefits that have the potential to mitigate this trend in a
substantial way. Specific anticipated benefits include:
Create well-paying, 21 st
century jobs in the local community.
Reduce the “brain-drain” of young people leaving the community.
Provide increased revenues to support local community services.
Provide enhanced utility infrastructure, such as water, sewer, natural gas, and
broadband.
Reduce local property taxes.
Demonstrate sustainable development.
Create a “place” of pride in the community.
The Project will achieve these benefits by developing a world-class high technology
manufacturing center, with a potential focus on renewable energy, serving as an economic
development engine central to the economic sustainability and well-being of the western
region of New York State. STAMP will provide economic development opportunities not
currently offered in the region, and will offer a variety of jobs for the residents of the Town of
Alabama, Genesee County, and the Greater Buffalo-Niagara and Rochester regions.
In addition, the Project has the potential to provide significant environmental benefits including
the enhancement and preservation (in perpetuity) of approximately 97 acres of wetlands and
4