Quantcast

Adirondack Meat Company may receive tax relief through Essex County IDA

— The Adirondack Meat Company proposed for Ticonderoga may be free from property taxes for two years under a Payment In Lieu of Taxes (PILOT) program offered by the Essex County Industrial Development Agency (IDA).

Members of the Economic Development, Planning and Publicity Committee passed a resolution July 9 on to the Ways and Means Committee authorizing the PILOT agreement between the IDA and proposed slaughterhouse, the first of its kind in the Adirondack Park.

“I think the proposed incentives on the pilot alone are considerable for a small manufacturing business based on what they have proposed,” Jody Olcott of the IDA said. “We felt that the need to reduce overhead expenses for the first couple of years was considerable to make sure that they could get out there and get established.”

Olcott said the company qualified for a Schedule A PILOT, which includes a sales tax exemption, mortgage recording tax exemption and 10-year property tax abatement schedule, which starts at 100-percent forgiveness of property taxes for the first two years, then reduces to 50-percent in year three with five percent drops through year seven and 10-percent drops for the final three years.

North Elba Supervisor Roby Politi asked about the process in granting a PILOT agreement.

“An application is made to the IDA,” Olcott said. “We evaluate the project based on need and community support and economic impact.”

Chesterfield Supervisor Gerald Morrow said he was part of the committee that oversaw the application.

“We looked at this very close,” Morrow said. “We looked at jobs and the necessity. There is no meat processing plant in the North Country and it is a hardship on the farmers to travel to Vermont or south. I think that this will lead to more jobs being created in the future. We would love to have something like this in our town.”

0
Vote on this Story by clicking on the Icon

Comments

Use the comment form below to begin a discussion about this content.

Sign in to comment