The Corfu-based artisan cheese maker Yancey's Fancy is planning a $296,000 expansion and will receive $20,000 in tax abatement, the Genesee Economic Development Center announced today.
The tax exemptions were ratified by the GCEDC board on Tuesday on the promise from Yancey's Fancy of 100 jobs retained.
No new jobs are expected to be created by the expansion.
The 60 percent PILOT will save Yancy's Fancy $13,000 in property taxes over 10 years.
The company also gets a $6,900 sales tax exemption on construction materials.
Information on the nature of the expansion was not released by the GCEDC.
Yancey's Fancy is located at 856 Main Road.
stop the presses... Steve
stop the presses... Steve Hyde needs a bigger bonus, this is sure to retain several $11 an hour jobs. (Which equates to 3 people making a yearly salary equal to Mr. Hyde's current bonus). He should get an increase. This is a travesty his bonus is only $72,000, after this fantastic cheese deal.
So know as long as you retain
So know as long as you retain jobs you get a tax break... Corporate Welfare...I thought you had to create jobs to get a PILOT....Can i get a tax break if i promise not to move and add on to my house... This is why Hyde needs a bonus...Is this another win for GCEDC....Who makes up the property tax loss..How can an Authority such as GCEDC give away tax dollars and we the voters have no say as to who gets a break and who has to pay the full shot ,when it comes to taxes....This is an example of taxation without representation......