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American City Business Journals

The tax breaks backing Plug Power’s new $93 million factory

Plug Power Inc. is seeking millions of dollars in tax exemptions and other financial assistance to offset its big investment at the Vista Technology Campus. The requests, which are pending before the Albany County Industrial Development Agency, are separate from the millions of dollars in tax exemptions that have been awarded to an LLC controlled by Joe Nicolla, president of Columbia Development Cos., who put the Plug Power deal together with assistance from county and town officials. The facilities will house Plug Power’s fast-growing GenDrive business unit, which manufacturers fuel cells that power forklifts, pallet jacks and other equipment for customers such as Amazon, Walmart and Home Depot.

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