Tractor sales company gets tax exemptions from GCEDC for expansion
A farm supply company on Route 98 in Batavia will receive nearly $60,000 in tax abatements to help fund expansion and create four new jobs within the next four years, the Genesee County Economic Development Center has announced.
Monroe Tractor, 7941 Oak Orchard Road (the corner of Route 98 and West Saile Drive), plans to add 6,000 square feet to its existing 16,800-square-foot facility.
The total project cost is $514,000.
GCEDC said the tax abatements will not only create four new jobs, they will help retain 20 jobs.
For this project, according to GCEDC, for every $1 of tax abatement, $313 will be returned to the local economy over 10 years.
The Henrietta-based company, which has 11 locations in western and central New York, will receive a $39,287 property tax exemption and an estimated $20,000 sales tax exemption on materials used in the construction project.
The property tax exemption is designed to offset the increase in assessed value the project will generate.
