IDA’s incentives packages tallied for county board

NORWICH – The Chenango County Industrial Development Agency released a summary of companies receiving payment-in-lieu of taxes agreements, bond finance packages and one-time sales tax abatements last year and the number of corresponding jobs created or retained as a result.

For the nine payment-in-lieu of taxes projects, called PILOTs, the amount of county, local and school taxes not paid in 2011 was more than a half a million dollars, or $530,718. (In comparison, in 2010, the amount was greater, at about $658,000.) But the companies collectively paid approximately $338,000 on the parcels they had enrolled in PILOT programs last year, not to mention taxes on other parcels that they might own.

In 2011, the nine businesses that have PILOTs collectively created a net increase of 336 full-time equivalent jobs. Chobani, Inc. of Columbus and Norwich Pharmaceuticals of North Norwich both performed well. The nation’s number one Greek yogurt manufacturer went from 250 jobs to 966; Norwich Pharmaceuticals started its PILOT with 202 employees and ended the year with 350.

“Chobani far outperformed the originally created FTE’s number,” said Commerce Chenango President Steve Craig, upon presenting the summary to the county board last week. The IDA is an independent board that is appointed by and serves at the pleasure of the Board of Supervisors.

In 2010, Norwich Pharmaceuticals led the way in job creation and greatly exceeded projections with 329 jobs versus only 202 anticipated. There were 10 businesses with PILOTs in 2010 that created a net increase of 150 jobs.

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