Bonadent got HUGE TAX BREAKS.
Bruce added jobs. Rehabbed a building that would have been abandoned and this could be the biggest one. . .
HE DOESN'T MAKE THE AREA SMELL LIKE THE DUMPSTER OF THE NORTH EAST!
and can you prove he received any PILOT agreements?
You say you are pro-business in Seneca County but it sounds like the only business you support is the Big Dump!
Danaren incentive package draws no comments
By DAVID L. SHAW email@example.com Aug 30, 2017 0
SENECA FALLS — Danaren Dental Laboratory of Seneca Falls is exploring three options to expand its manufacturing space and remain competitive in the marketplace.
The options are to expand its current operations in Seneca Falls by building a 7,500-square-foot addition to its existing facilities at the north end of the BonaDent facility, the former Wal-Mart building on Routes 5&20.
Another option is to relocate Danaren to one of BonaDent’s other manufacturing locations in Florida or South Carolina, which are offering incentives to move there.
Or they could outsource production to China or India, as other American dental labs do.
Danaren officials have applied to the Seneca County Industrial Development Agency (IDA) for financial assistance to help them make the decision to stay in Seneca Falls, retaining 29 current employees and adding up to 30 new employees over the next five years.
The IDA has proposed a land-lease agreement with BonaDent so it can:
• Offer a Payment In Lieu Of Taxes (PILOT) agreement in the form of an amendment to the current PILOT agreement between the IDA and BonaDent to include the 7,500-square-foot addition.
• An exemption from paying sales tax on building materials, supplies and equipment purchased for the expansion.
• An exemption from paying the mortgage recording tax when the lease ends.
No one showed up Tuesday to comment either for or against the proposed financial aid package. That means the IDA Board of Directors will likely vote to offer the package to the family-owned Seneca Falls company at its Sept. 7 meeting.
In its application, Danaren Vice President Danielle Bonafiglia Wirth said the company “has positioned itself within the dental lab industry as a cost-effective option for dentists looking for low-cost restorations.”
“We compete directly with laboratories in China, India and Mexico, along with American laboratories who currently outsource their work to those countries. Danaren has outgrown its current manufacturing space,” she said.
Danaren is proposing to lease a 10,000-square-foot parcel of property on the north end of BonaDent’s current facility. The company would build the addition on that parcel.
The expansion project has a price tag of $1.19 million. Documents submitted with the application state the company plans to mortgage the project for $952,000 and use $238,000 in equity to finance the project. The PILOT is projected to save the company $80,025. The mortgage tax exemption will save the company $13,600 and the sales tax exemption will save an estimated $56,800.
Having the expansion take place in Seneca Falls is projected to generate $4.6 million in income tax revenue, $26,402 in PILOT revenue and $2.39 million in sales tax revenue over 14 years. Sharing in the PILOT payments would be the town of Seneca Falls, Seneca County and the Waterloo school district.