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Nardozzi Companies HQ project to tax break public hearing

  • / Updated:
  • Staff Report 

Nardozzi Companies is close to completing its move to a 17-acre plot of land purchased in the city’s Industrial Park for its new headquarters at an estimated cost of $2.5 million.

Finger Lakes Partners (Billboard)

The company is seeking $1.1 million in tax breaks in exchange for job creation and retention guarantees, with a property tax exemption of nearly $920,957 over 10-15 years, a sales tax exemption of $168,750, and a mortgage tax exemption of $19,743.

The IDA is expected to set a date for a public hearing on the tax incentives during its meeting on Friday.

The project is expected to create 12-15 jobs over three years and retain 40-60 positions. The land sale and PILOT will close at the same time, according to Tracy Verrier of MRB Group, who serves as administrator for the IDA.