Syracuse, N.Y. -- JMA Wireless will receive nearly $4 million in tax breaks for its proposed 5G equipment factory south of downtown Syracuse.
The Syracuse Industrial Development Agency voted 4-0 Tuesday to approve exemptions consisting of $2.9 million in property tax discounts over 15 years, sales taxes of $880,000 on construction materials and $94,890 in state mortgage recording tax.
JMA, a designer and builder of communication systems, plans to spend $15.8 million to turn the former Coyne industrial laundry plant at 120-154 Cortland Ave. into a factory for the manufacture of electronic components for 5G mobile networks.
The 119,000-square-foot factory will employ at least 100 people, according to JMA. The company employs nearly 1,000 people globally, including more than 500 at its recently expanded headquarters at 7645 Henry Clay Blvd. in Clay.
Coyne went bankrupt and closed its facility on Cortland Avenue in 2015, putting 90 people out of work. JMA said it is working with local organizations to train city residents for jobs at its factory. The company is owned by its CEO and founder, John Mezzalingua.
Rick Moriarty covers business news and consumer issues. Have a question or news tip? Contact him anytime: Email | Twitter | Facebook | 315-470-3148
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Proposed Syracuse factory for 5G equipment receives $4M tax break - syracuse.com
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