O-AT-KA Milk Products Cooperative, Inc., is receiving $204,000 in tax abatements through the Genesee County Economic Development Center (GDEDC) for an expansion at its facility at 700 Ellicott St., Batavia.
O-AT-KA intends to build a two-story dairy processing facility for producing dairy-based beverages and "ultra-filtered" milk ingredients. The project summary reads, "The additional dairy batch blend capacity allows more dairy-based products to be manufactured at O-AT-KA for shipment both nationally as well as exports."
Both projects would use milk produced exclusively in New York. O-AT-KA is receiving sales-tax exemption on construction material of $204,000. The estimated 10-year return on investment into the local economy is $21.2 million.
Graham Corp., of 20 Florence Ave., Batavia, is receiving a tax abatement of $125,906, through the GCEDC for the addition of a 10,000-square-foot sandblasting and painting building. Graham is receiving an $89,088 property-tax exemption (PILOT) and a sales-tax exemption on building materials of $36,818. The estimated 10-year economic impact is $89.8 million
Marktec Products, Inc., has been approved by the GCEDC for $57,109 in tax abatements for relocation to the Genesee Valley Agri-Business Park. Marktec, owned by Bill Cox, will build a 5,002-square-foot building on two acres of land in the park. The company will receive a property-tax exemption (a 60 percent PILOT) of $32,739, a sales-tax exemption on building material of $18,800 and a mortgage-tax exemption of $5,570. The project is expected to retain four jobs and create two new jobs. The estimated return on investment over 10 years for the local economy is $2.45 million.
Seems like all these IDA's do
Seems like all these IDA's do is give out tax breaks..who makes up all these lost revenue's...I just read where genesse county is tappped out and might have to borrow money..And then we have the GDEDC cutting taxes ..
Is this how we control behavior in this Country..
Lower taxes across the board for all..No tax breaks for anyone..Could eliminate many of these agency's who's only role it is to forgive taxes..Would none of the above company's build what they plan to build..
I like the new spin GCEDC
I like the new spin GCEDC came up with. Instead of trying to sell us on how many jobs will be created and saved, which we no know is BS, now we're being told of a fictitious dollar amount/ROI over a ten year period. Perhaps Mr. Hyde could share with us the magical formula with which he arrived at these astounding figures. I wish this was done in the spring as my garden isn't doing as well this year...could have used this load of crap out there.