CCIDA Active Projects
The CCIDA currently has thirteen active projects, including industrial revenue bonds (IRB), payment in lieu of taxes agreements (PILOT), and civic facility bonds. Many of the following projects will expire in the next few years.
Bytheway Typesetting Services
Bytheway Typesetting Services approached the IDA in 2007 for a PILOT agreement. This project was expected to retain 17 jobs on site and create 2 new jobs. International competition and a worsening economic climate impacted this project’s performance, resulting in the business having only 4 FTE’s as of December 2009. The current PILOT agreement is set to expire in 2017.
Baillie Lumber
In 2000, Baillie Lumber approached the IDA for a $5.2 million industrial revenue bond and a PILOT agreement. This project proposed to create 42 new jobs and retain 100 jobs. Worsening economic conditions in the housing and commercial construction markets significantly impacted this business, and to date, 80 positions have been retained. This project is set to expire in 2012.
Chenango Memorial Hospital
Chenango Memorial Hospital requested a civic facilities bond refinance in 1998, in the amount of $5.3 million. At the time, the hospital had 574 jobs on payroll; since that time, many of these positions have moved over to a subcontract company. It is estimated that total employment at CMH remains approximately consistent with the original application. This project will expire in 2014.
Cross Country Manufacturing
In 1999, the IDA was approached by Cross Country Manufacturing to participate in a project by providing IRB financing as well as a PILOT agreement. Two separate bonds, totaling $470,000, were utilized. At the time, the business had 15 employees and projected up to 20 additional positions. Currently the business has 10 employees. The PILOT agreement will cease in 2010; the remaining bond payments will be completed in 2014.
CZ USA d/b/a Dan Wesson Firearms
In 2003-2004, the IDA was approached for assistance in the form of a PILOT agreement in order to retain this business’ operations in Norwich. At the time, 14 individuals were employed at CZ USA. Today, 14 individuals are still employed there. This project will expire in 2014.
Grace View Manor
The IDA was approached in 2003 to refinance existing bond debt with a civic facilities bond for Grace View Manor, a 40 bed independent living efficiency and one-bedroom apartment facility located in Norwich. At the time, Grace View Manor employed 100 full time equivalents; today they employ 56. The project is expected to retire in 2029.
NY Susquehanna & Western Railway
Initiated in 1982, when NYS&W first acquired the Utica Main rail line that runs north-south through Chenango County, the CCIDA was approached for a Payment in Lieu of Tax Agreement. This agreement, similar to many across New York State, conveyed the title of the rail line to the IDA, and the non-taxable status of the IDA to the company. The current agreement will expire in 2011.
Norwich Pharmaceuticals, Inc.
The CCIDA’s biggest success story, Norwich Pharmaceuticals, Inc. approached the IDA for a renewal of their existing PILOT agreement in 2007. The contract pharmaceutical manufacturing business, though sold twice in the last 15 years, has created over 200 jobs since the project was originally brought to the IDA. This project is scheduled to end in 2017.
The Mid-York Press, Inc.
The Mid-York Press, Inc. approached the IDA in 2007 for an industrial revenue bond in the amount of $3.5 million. Their project included the acquisition of new equipment that would position them as one of the most competitive commercial carton packaging printers in the nation. The proposal was to retain 66 positions and create 9 new jobs. To date, the company has already created 8 new jobs, and expansions during 2009 created an additional 8 construction jobs. This project is set to expire in 2016.
Twin Valley, LLC
Twin Valley is a lumber company located on the southern Chenango County border. They approached the IDA in 2000 for a project to retain and create jobs at their location, and their request included bond financing and a PILOT agreement. The project proposed to retain 2 jobs and create 1.5 additional FTE positions, and currently has 5 employees. This project will expire in 2011.
Upturn Industries
The IDA was approached in 2001 to assist Upturn Industries in constructing a new building in the Bainbridge Business Park. This proposed business expansion was a $1.5 million project; requested benefits were a mortgage recording tax abatement, sales tax abatement, and PILOT. The company proposed to retain 38 jobs, and create up to 19 additional jobs. Currently the business employs 36 people. This project is set to expire in 2011.
Wagner Nineveh
In 2007, the CCIDA was approached by Wagner Hardwoods owner Les Wagner. The company was hoping for a sales tax abatement and PILOT agreement to assist in the acquisition of the struggling Pomeroy Lumber business in Nineveh. Pomeroy was at risk of closure and 27 individuals at risk of losing their jobs. The proposal included retaining the 27 jobs and creating 9 additional jobs, and to date, the business has 43 existing jobs. This project is set to expire in 2018.
Who’s We, LLC
Who’s We, LLC is the management entity for a prime downtown Norwich office building that was previously owned by a public LDC. In 2007, Who’s We, LLC approached the IDA for assistance related to the acquisition of this property, in the form of mortgage recording tax abatements, sales tax abatements, and a PILOT. The project proposed to retain 7 FTE jobs, and to date, has met that goal. The project also is gradually putting this property back on the tax rolls, which was a goal of the LDC and IDA. This project will expire in 2017.