A manufacturing company that produces equipment used for industrial drum handling was awarded with a tax break worth $618,351 because it has recently moved to Salina from its previous headquarters in East Syracuse. The company believed that the move will help them ensure their future but it does not mean there will be available jobs.
A vote was casted by the Onondaga County Industrial Development Agency, Morse Manufacturing Company won by 6-0. They will receive property tax exemptions worth $499,611 in the next 12 years, $100,000 sales tax exemptions for the construction materials they will be purchasing and sales tax exemption of $18,750 for their mortgage recording.
The previous headquarters of the company is located at 727 W. Manlius St. found in a village in East Syracuse which served its home for a long time. Its new address will be a vacant distribution facility with 87,831 square feet located at 103-105 Kuhn Road, Salina.
Nathan Andrews, the president of Morse, said in a previous statement that the relocation will make it possible for them to have a laser cutting machine to be used in sheet metal as well as a paint system for powder coating since they will have more space. These equipment will make them more competitive compared to Chinese manufacturers of drum handling equipment.
Despite the move, Andrews said that they could not promise that their will new jobs for the people of their relocation site since the sales of the company are dependent on the current state of the manufacturing sector. The company has currently 34 people under their employment.
Morse is a family-owned business and they are expecting to do renovations that will cost them around $3.9 million together with the new equipment they will be purchasing. A project fee will be paid by Morse to the industrial development agency worth $39,850.
More and more companies are moving as a strategy to get tax break. Moving is not quite easy though thus a moving company is required during the relocation. If your business is moving, contact Wise Move online.