ENDICOTT, NY (WIVT/WBGH) – A Vermont-based electrical supply company is receiving lots of government assistance in its project to transform the former K-Mart building in Endicott into a warehouse and distribution facility.
Green Mountain Electric Supply was approved for a series of tax exemptions by the Broome County Industrial Development Agency yesterday.
The property tax, sales tax and mortgage tax exemptions are valued at about $2 million over the course of the 15 year PILOT agreement.
In addition, Green Mountain is getting more than $3 million from Endicott’s Downtown Revitalization Initiative state grant as well as $350,000 in Restore New York funding.
Green Mountain plans to hire 20 warehouse workers and truck drivers to work out of the 100,000 square foot facility.
The IDA has calculated the total local benefit of the project at more than 46 million dollars.
One issue that still needs to be resolved is what to do with a large portion of the former plaza’s parking lot that Green Mountain does not want.
It had wanted to donate it to the village for creation of a park and a walking path for students headed to nearby Jennie F. Snapp Middle School.
But Mayor Linda Jackson says the village does not want to be responsible for the land which has some ground contamination from having previously been the village dump.
Green Mountain told the IDA that if it can’t get the village or county to take it, it will landscape the property and fence it off.