The former Acu-Rite building in West Ellicott is one step closer to having a new business in place.

On Tuesday, the Chautauqua County Industrial Development Agency held a public hearing at the Ellicott Town Hall for Electrovaya, Inc. of Mississauga, Ontario, Canada regarding a 52 acre parcel at One Precision Way, Jamestown. No comments were made during the hearing.

According to Electrovaya’s application to the county IDA for financial assistance, Sustainable Energy Jamestown LLC is looking to create a gigafactory for lithium ion battery manufacturing. They have secured low cost hydro from Niagara Falls.

The application states it will create a significant number of jobs. After a three-year period, Electrovaya plans to have about 150 employees, earning anywhere from $35,000 to $100,000 annually, depending on the job title.

The company also estimates it will need 30 temporary construction jobs for renovation of the former Acu-Rite facility.

The entire project is expected to cost $42.5 million to complete.

Sustainable Energy Jamestown is seeking a Payment In Lieu Of Taxes agreement for Electrovaya. Following the public hearing, the county IDA Board of Directors will be voting on the proposed PILOT agreement at a future meeting.

Sustainable Energy Jamestown LLC purchased the former Acu-Rite building in May 2022 for $5 million.

Should Electrovaya come to fruition, it will be an even bigger project than was originally planned for the former plant.

In February of 2020, the county IDA announced that Arktura of California was purchasing that location. The company creates custom ceiling tiles, acoustic panels and facade systems. It was supposed to invest $7.3 million into the facility and generate 50 jobs.

County IDA Director and Chief Executive Officer Mark Geise said last year that project was canceled due to the COVID-19 pandemic, which was declared worldwide just 14 days after the Arktura announcement.