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Comptroller reports on local IDAs
Jun 11, 2019 12:51 am
Melanie Lekocevic reports in The Greenville Pioneer that Greene County's Industrial Development Agency has given out far more tax exemptions than Columbia County. A report last week from the State Comptroller‘s Office reported that Columbia County had eight active IDA projects for $400,000 in net tax exemptions in 2017, while Greene County had 11 projects, with $26.4 million in net tax exemptions given to various companies. Most of Greene County's tax exemptions went to just one company, Athens Generating. They've had a payment in lieu of taxes agreement since 2002, which ends in 2024. Athens Generating paid $4,896,986 in taxes in 2017, on an assessed $1.2 billion. "People are of differing opinions on the necessity for PILOTs and tax breaks, but at the end of the day, the [Greene County] IDA has never done a project with zero taxes," Greene County IDA Executive Director Rene VanSchaack said. "Every project we have ever done has paid more money in taxes than was paid on the property before they took it over." IDA projects created 782 jobs in Greene County and retained an estimated 544 jobs in 2017 according to the comptroller's report. In Columbia County 135 jobs were created and 1,145 jobs were retained, according to the report. F. Michael Tucker, the president and CEO of the Columbia Economic Development Corporation said they have a new project soon in Claverack. "The only project in the pipeline right now is the Drumlin Fields Distillery. It should close this year," he said. "The project has received preliminary approval from the county IDA and final approval is expected in July. It‘s a $10 million cognac distillery in the town of Claverack. Construction will start after the closing" Read more about this story in The Greenville Pioneer.