JAMESTOWN – A major economic development project in northern Chautauqua County has taken a step forward with the Chautauqua County Industrial Development Agency board of directors signing off on two different tax abatement programs.
The $200 million Athenex project in Dunkirk, announced in the spring of 2016 by Gov. Andrew Cuomo, received both sales and property tax exemptions from the IDA during its meeting Tuesday morning.
According to the Post-Journal, Incentives include a sales tax exemption, with an estimated value of $9.1 million, and a 20-year payment in lieu of tax agreement for the construction and outfitting of the $208 million facility. Both exemptions were placed within the Athenex deal that was originally negotiated and finalized by the state earlier this year.
Once complete, officials say Athenex will have a multi-million dollar, 320,000-square-foot facility located Lake Shore Drive East and will employ 450 people within the first five years of operation.