NORWICH – A recently renewed agreement that exempts Outsourcing Services Group from nearly $50,000 in local property taxes each year would have to be re-authorized if the company were sold, a county Industrial Development Agency official said last week.
At its monthly meeting June 27, IDA Attorney James Downey said potential buyers of the New Jersey-based OSG, who haven’t been named, have asked if the pharmacal company’s current Payment in Lieu of Taxes agreement (PILOT) for its North Norwich plant would automatically carry over to the new owners. He said it would not. However, if the new ownership planned to keep the operation as is, Downey doesn’t see why the board would not approve to continue the PILOT.
“I conveyed that if they planned to take over ownership, loot the company, lay-off the workers and leave Dodge,” Downey said, “that the board would not be inclined (to continue the PILOT).”