Welch Allyn gets $3 million tax break for expansion in Skaneateles
Wednesday, February 8, 2017
Source: Syracuse Post Standard
The Onondaga County Industrial Development Agency has approved $3.1 million in tax breaks for medical equipment maker Welch Allyn's expansion in Skaneateles.
The agency voted 6-0 Tuesday to grant the company $2.1 million in property tax breaks over 15 years and an exemption, worth $1 million, from sales taxes on construction materials.
Welch Allyn, which was purchased by Chicago-based Hill-Rom Holdings Inc. in 2015 for $2.05 billion, plans to retrofit 15,000 square feet of space at its plant off State Street Road in Skaneateles and build a 110,000-square-foot expansion for new distribution, warehouse and laboratory space.
The company estimates the project will cost $12.7 million. Construction is expected to start in the spring and take 18 to 24 months.
Welch Allyn has said the project will add 109 new jobs in Skaneateles over the next two years as part of a deal under which the state will provide a $6 million grant and $6 million in state income tax credits. It currently employs about 900 people in Skaneateles.