Monroe County Executive Maggie Brooks announced that the County of Monroe Industrial Development Agency (COMIDA) today approved incentives for eight local economic development projects.

 

“This has been another productive year for COMIDA,” said Brooks. “COMIDA continues to be a strong partner in helping local companies expand their operations and create new jobs. We look forward to more investments to come in 2007.”

 

The following projects were approved by COMIDA:

 

Klein Steel Service, Inc. (Tax-exempt Bond)

 

Klein Steel Service, a producer and distributor of steel and steel products, proposes to construct and equip a 63,000 square foot addition to its existing 135,000 square foot facility located on 13 acres in the Western Gateway Outer Loop Industrial Park in the City of Rochester. The addition will allow for added production capacity and new products. The $8.8 million project will impact 99 existing jobs and result in the creation of 65 jobs within five years. The applicant is seeking approval of a tax-exempt bond. 

Polymer Engineered Products (Lease/leaseback with JobsPlus)

Polymer Engineered Products intends to build a 30,000 square foot addition to its existing 115,000 square foot manufacturing facility located at 23 Moonlanding Road in the Town of Gates. The addition will be used for manufacturing and warehousing with the addition of three plastic compounding lines. The project, which will cost $1.7 million, will impact an existing employee base of 90 and result in the creation of 50 jobs within five years of project completion. The company also seeks approval of JobsPlus as a manufacturer, and will also be located in the Empire Zone.

 

City Stamp Works, Inc. (Lease/leaseback with JobsPlus)

 

City Stamp Works (CSW) offers a complete line of prepress products to the commercial printing industry including film separations, photopolymer printing plates, and steel rule cutting dies. CSW is headquartered in Massachusetts and in addition to Monroe County, has operations in North Carolina and Ohio. After an analysis of their customer base and cost comparisons, it was determined that the Monroe County facility was the best location for this expansion. This project includes the purchase of a laser ($400,000) and a 2,600 square foot addition ($256,000) to its existing facility. The $662,600 project will impact 35 existing jobs and result in the creation of five jobs within five years.

 

Sydor Optics, Inc. (Sales tax exemption only)

 

Project Address:   31 JetView Drive

Rochester, NY 14624

 

Sydor Optics was established in 1964 to serve local customers, such as Eastman Kodak, for aerial reconnaissance optics. The company’s instrument subsidiary, Sydor Instruments, formed in 2004, manufactures high-speed diagnostic imaging systems for the photonics industry, and is the exclusive licensee of the patented ROSS camera technology developed at the University of Rochester Laboratory for Laser Energetics. Sydor has commercialized the product and is now selling the systems to U.S. and European government agencies. This $2.9 million project includes the purchase and renovation of an existing 26,000 square foot building to consolidate the company’s three existing Monroe County locations. The project will impact 32 existing jobs and result in the creation of 10 new jobs within five years.

 

Redman Construction, Inc. (EquiPlus)

 

Redman Construction (RCI) is a commercial site developer located in Brockport. RCI will be purchasing a 2006 International 7600 Dump Truck. The cost of the truck is $107,720. RCI employs 12 and will be creating two new full-time positions. RCI has been approved for a GreatRate through the Monroe County Industrial Development Corporation and is seeking approval of EquiPlus. 

VanDamme Associates, Inc. (EquiPlus)

 

VanDamme Associates provides consulting, software, web development and hosting services to associations and nonprofit organizations nationwide. VanDamme will be purchasing new servers, including hardware and software. The combined cost of the equipment is $67,365. VanDamme employs 14 and will be creating two new full-time positions. VanDamme has been approved for a GreatRebate through the Monroe County Industrial Development Corporation and is seeking approval of EquiPlus. 

 

Henrietta Building Supplies, Inc. (EquiPlus)

 

Henrietta Building Supplies (HBS) is a distributor for commercial and residential building materials, located in West Henrietta. HBS will be purchasing two 2007 Sterling Boom Trucks for $400,000 and will also invest another $95,600 in other equipment. HBS currently employs 63 within Monroe County and will be creating four new jobs within two years. The company has been approved for a GreatRebate on the truck and equipment purchases through the Monroe County Industrial Development Corporation. HBS previously used the GreatRebate program for another project.

 

CGI Communications, Inc. (EquiPlus)

 

CGI Communications delivers high impact marketing and promotional products to municipalities and chambers of commerce nationwide. Products include boulevard banners, digital community maps, and web-based videos. CGI will be purchasing computers, printers, copier and telephone system, and other equipment totaling $262,000. CGI is expanding its space at 130 East Main Street purchasing a total of four floors, two of which are currently leased while the others will be renovated and occupied. The company will invest $188,000 over the next year in renovations and furnishings. CGI currently employs 82 within Monroe County and will be creating four new jobs within two years. The company has been approved for a GreatRebate on the equipment purchases through the Monroe County Industrial Development Corporation. 

 

The EquiPlus program combines the investment incentives of the GreatRate and GreatRebate programs with the sales tax exemptions offered through COMIDA. Companies that receive GreatRate or GreatRebate benefits through MCIDC for the purchase of equipment can receive an additional sales tax exemption on the purchase of that equipment through COMIDA.

 

JobsPlus is a tax abatement program that, in addition to sales tax exemption and/or mortgage tax exemption, provides 90% abatement on increased assessment associated with the project in the first year, decreasing 10% per year for a ten-year period.