Three people spoke in favor Monday of Waterloo Container receiving a financial benefits package from the Seneca County Industrial Development Agency for its $2.2 million warehouse expansion project.
The company, at 2311 Route 414, Seneca Falls, applied for property tax and sales tax exemptions for the 37,000-square-foot addition to the north side of its building to provide more warehouse space and a bottle packing line.
The IDA is proposing a Payment In Lieu Of Taxes (PILOT) agreement that will save the company $160,000 in property taxes over the next 10 years and an estimated $35,000 in sales tax payments for a 10-year period.
A cost versus benefits analysis done by the IDA for the project indicates that $203,000 in benefits will be more than offset by $42.02 million in benefits in the form of payroll from hiring more people, more income tax revenue, the PILOT payments, some sales tax revenue and ongoing state sales tax revenue over 10 years.
Allison Stokes of Rochester, a former Seneca Falls resident who still owns a house in the community, said she supports Bill and Annette Lutz, owners of Waterloo Container.
“I hope you approve the incentives. They are willing to expand their business and care so much despite being located across from the Seneca Meadows Landfill. They are a local couple who have invested a lot in the business, in being good citizens and in being willing to take risks,” Stokes said.
“I’m thrilled the IDA wants to support them. The Lutzes are investing in the wine and tourism industry. They are creative people who want to do well. Annette was one of those on the Town Board who pushed for Local Law 3 of 2016, which would close the landfill by 2025. They deserve your support.”
Sandra Farnsworth of Seneca Falls said she also supports the incentive offer for Waterloo Container. She asked who picks up the cost for the incentives and IDA Executive Director Bob Aronson referred her to the cost-benefit analysis.
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