Salina, N.Y. -- The Onondaga County Industrial Development Agency on Tuesday approved $2.4 million in tax exemptions for a project that will turn the old Will & Baumer candle factory into apartments.
The agency voted unanimously to give Pascarella Development $1.1 million in property tax discounts over 10 years, and exemptions consisting of $1.2 million in sales taxes on construction materials and $116,587 in state mortgage recording tax.
The family-owned development company plans to build 200 to 250 apartments, plus commercial and warehouse space, in the factory’s buildings, which have been vacant since the candle company moved to Lewisburg, Tennessee, in 2009.
Will & Baumer was founded in 1855 by Anton Will, a carpenter who moved to Syracuse from Germany. The company opened the Salina factory at 100 Buckley Road, near Old Liverpool Road and overlooking nearby Onondaga Lake, around 1910.
When the company closed the factory 12 years ago, it was the oldest manufacturer in Onondaga County, but employment was down to 25 people.
The site is known for a smokestack that is painted to look like a giant candle. Vittorio Pascarella, vice president of the family-owned development company, said he hopes to save the smokestack as part of the site’s redevelopment.
24
Rick Moriarty covers business news and consumer issues. Got a tip, comment or story idea? Contact him anytime: Email | Twitter | Facebook | 315-470-3148
"Factory" - Google News
May 11, 2021 at 11:29PM
https://ift.tt/3w09M8C
Will & Baumer candle factory plan wins approval for tax deal - syracuse.com
"Factory" - Google News
https://ift.tt/2TEEPHn
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "Will & Baumer candle factory plan wins approval for tax deal - syracuse.com"
Post a Comment