Pete Mitchell, owner of Parker’s Grille Inc. currently operates six restaurants in Geneva, Seneca Falls, Newark, and Auburn. The restaurant portfolio is made up of the four Parker’s Grille locations, plus Halsey’s, an upscale steak house in Geneva, and 84 Fall an upscale dine-in restaurant in Seneca Falls.
According to Finger Lakes Economic Development Center CEO Steve Griffin, Mitchell has recently signed a purchase agreement to acquire 11 Main St. Penn Yan in pursuit of opening a seventh restaurant.
“Pete intends to open the new restaurant under the Parker’s Grille label while combining the food and atmosphere as a mix between Parker’s and Halsey’s. The new restaurant will add an additional dining option to downtown while offering unique fare and environmen,” explains Griffin.
Griffin reports the total capital investment of the project is projected to be $750,000, and the company is seeking a 10-year Payement in Lieu of Taxes (PILOT) agreement with FLEDC. Mitchell is planning to hire 35 employees in the first year of operations.
Griffin calculates the total 10-year economic benefit to be $2,587,719; consisting of building development costs, wages paid, and PILOT payments.
Griffin says the total projected tax savings would be $120,098 over the 10-year period, resulting in a 22:1 company investment to community investment ratio over the course of the PILOT.