Business Letter of Intent Form Joint Venture

Document Sample
Business Letter of Intent Form Joint Venture Powered By Docstoc
					                  Genesee Valley Agri-Business Park

                                  Batavia, NY
                                Genesee County

                                Presented by
                              Steven G Hyde
                Genesee County Economic Development Center

One Mill Street, Batavia, NY 14020 – 585.343.4866 – -

1) Genesee Valley Agri-Business Park Overview

2) Why WNY/Genesee County

3) Challenges/Solutitons

4) GCEDC – Who we are

5) Farm Credit of WNY
              Genesee Valley Agri-Business Park
    A 200+ Acre “Shovel Ready” Ag Park
Dedicated to Agri-Business and Food Processing, Sits in Empire Zone
Largest Park of its type in the US
    Low Cost Process Water/Treatment
    Sits on Aquifer producing 6 Million Gallons/Day
    Pretreatment facility on site
    Confluence of Infrastructure
     Transmission, Sub-Transmission and Distribution Electric
     Natural Gas, Sewer, Municipal Water/Sewer at site Spring of 2008
     Sites near O-AT-KA on State Routes 5 and 63, minutes from I-90
     Access to Rail
    Proximity to Supply and NE Markets
     sits in “Upstate Milkshed”, 10 Hour drive from 184 Million People
     30 Miles to Rochester/Buffalo Airport, 7-8 hours from Port of NY
    Financial Incentives Available
     No State Income or Property Tax for 10 Years (Via Empire Zone)
     Elimination of State Sales Tax and Mortgage Tax
     NYS/ESD Grants, Small Cities Grants, Low Interest Loans
       Genesee Valley Agri-Business Park

O-AT-KA Milk Products
    Upstate Milk
            Why Genesee County/WNY?

   Proximity to Supply
    - New York is the 3rd largest milk producer in the US
    - Genesee/Wyoming are the #1 and # 5 producer of milk in NYS
    - Located in the heart of the “Upstate Milkshed” (produces 23% of NY Milk)
    - Access to several mid-sized farms (1500-3000 cows)

   Proximity to NE Markets
    - 184 Million people w/in 500 miles (10 hour drive)
    - Proximity to NYC and Port of NY (7-8 hour drive)
    - Easy access to Canada
Why Genesee County/WNY?
                     Why Genesee County/WNY?

    WNY is the #1 Food Producing Region in US
    - 5 Top 100 Food Producers located in region
Constellation Brands (Adult Beverages) Rich Products ( Desserts, Breads & Rolls)
Seneca Foods (Fruits and Vegetables) Birds Eye Foods (Canned & Frozen foods) Lactalis (Sorrento Cheese)
  - Productive and Trained Work Force (nearly double the national average)
 - Much of Supply Chain in Place (from packaging to transportation)

 Affordable Land/Labor
 - More affordable land and labor costs compared to major metros
             Why Genesee County/WNY?

   Industry Businesses and Employment:
      1200 businesses employing 16,446 regionally
  Land Percentage Assessed Ag by

16%-30%      31%-49%          49% +
 Challenge:
Promote Economic Growth While Preserving Farmland
 Solution:
Work with Ag Community to develop “Least” productive land
Locate Businesses in designated “Clustered” Areas
 Challenge:
Secure Funding for Infrastructure for Ag-Park
 Solution:
Secure Investments from State/County/Town
Form Joint Venture to bridge financing
Genesee Valley Agri-Business Park
     A Collaborative Effort

   A Public/Private Partnership consisting of the
    GCEDC and Farm Credit Of WNY
   Both have an equity stake in the park
   $3 Million Grant from NYS to provide phase 1
   $2.1 Million Funding from Genesee County
    w/direct investment from Town of Batavia
             Who we are:
   Quasi Government Agency designed to
    Enhance Economic Growth
   Works at “Speed of Business” to assist
    project implementation
   Works as Liaison with Government Entities to
    speed permitting process
   Offers Several State and Local Incentives
   Offers “Shovel Ready” Industry Specific Parks
   Offers “One Stop Shopping” via established
    regional partners
        Farm Credit: Who We Are

   Farm Credit of Western New York is a lending
    cooperative for the Ag Industry, making loans such
    as mortgages, seasonal loans and lines of credit.

   More than $927 Million in Assets

   Equity Stake in Genesee Valley Agri-Business Park

   Installation of Phase 1 infrastructure in Spring 2008

   Received International and Regional site visits

   Secured Letter of Intent from Canadian Food Processor

   Applied for Grant to Support Agri-Tourism at the Park

Shared By:
Description: Business Letter of Intent Form Joint Venture document sample