The extension of the HPEZ would create a much-needed incentive for the Bronx-Westchester Tempering Corporation to build a glass manufacturing facility at this location by enabling it to apply for NYS tax credits. This project previously received the approval of the Empire State Development Corporation, a necessary step prior to Council consideration.
Locating the Bronx-Westchester Tempering Corporation in the Bronx, is expected to bring about economic, social and environmental benefits. The owner of this high-tech manufacturing company is committed to hiring from the Bronx.
“Without the incentive of NYS tax credits, it is unlikely that the Bronx-Westchester Tempering Corporation will build a facility in the Bronx, which will cause the borough to lose 60 new jobs and $4.6 million in private investment.” Koppell said.
In addition to its other benefits, the project will help to develop a deserted industrial lot and, through continual monitoring of the area by factory employees and local personnel, will put an end to illegal dumping and other delinquent activities with which the area has been synonymous.
“If this legislation is approved, the area will be protected and local residents will have the opportunity to work in jobs that pay a livable wage,” Koppell said.
©2008 Community News Group