JAMESTOWN – The Chautauqua County Industrial Development Agency will be providing its help to a local business as it moves from the city of Jamestown to the Mason Industrial Park in the town of Ellicott.
The Post Journal says the IDA board Tuesday approved resolutions that provide a 15-year payment in lieu of taxes agreement; sales and mortgage tax abatement; and a $500,000 Al Tech Revolving Loan for the project for the Stannard Group LCC.
The business plans to consolidate its two operations – Weaver Materiel Services and Naco Express – under one roof in a new 26,000 square foot facility in the industrial coordinator of Ellicott, just south of Falconer. Total cost of the project is estimated at $2.885 million.
Deputy County Executive for Economic Development and IDA director Mark Geise said the company will save $924,000 from the IDA benefits, but will have more than a $50 million economic impact on the local community during the next 15 years by keeping the business in the county.
That’s largely due to 36 jobs being retained and three new ones being created once the new building has been constructed.