Big tax break approved for Plug Power

• Share on
• 
• 
• 
• 

Economic development officials in Genesee County on Thursday approved a huge tax break for a company that plans on building a hydrogen power plant. 

Plug Power would pay reduced property and sales taxes over 20 years that would save the company $118 million. The plant, located in what is now a vacant industrial park in the Town of Alabama, would employ 68 workers. The tax breaks were unanimously approved without discussion by the governing board of the Genesee County Economic Development Center. 

The project still requires approval by the board of the New York Power Authority. Plans call for the authority to provide discounted electricity that would save Plug Power $148 million over 10 years.

The tax breaks and discounted power amount to a subsidy for $4 million per job. That’s the largest subsidy deal in Western New York history.