*NEWS*XEROX GETS 100K IN TAX BREAKS

[Anonymous]

Xerox receives $100K in tax breaks for new plant

September , 2005

The County of Monroe
Industrial Development Agency today approved some $100,000 in tax
breaks for Xerox Corp., which plans to build a five-story,
100,000-square-foot toner plant at its Webster campus.
The approval was among 10 given to companies and organizations that are
pledging to create a total of 159 full-time-equivalent jobs.
The Xerox project includes $11.1 million in construction costs and $48 million for manufacturing equipment, officials said.
Slated for completion in 2007, the plant will produce chemically grown
emulsion aggregation toner, which results in less toner per page with
sharper images than traditional toner, officials said. Forty jobs will
be created as a result of the project.
Also on Tuesday, COMIDA approved sales and mortgage tax exemptions to
Maximus Hill LLC, which plans to renovate the six-story,
32,100-square-foot David Building on Water Street to 36 loft apartments.
The $2.3 million project will create five two-bedroom, 25 one-bedroom
and six studio apartments, Maximus representatives said. The
apartments, which would be marketed to college students and young
professionals, will go for $12 per square foot.
COMIDA approved a tax-exempt civic facility bond for the YMCA of
Greater Rochester for a branch in Penfield. The $15.5 million project
will be 69,000 square feet. It will be similar to the YMCA’s recent
$8.5 million expansion of its Gates facility, YMCA representatives
said. Some 95 jobs will be created as a result of the project.

Tax breaks OK’d for Xerox plant, 9 other Monroe projects
(September , 2005) – The County of Monroe Industrial Development Agency
today approved tax incentives for 10 local construction and equipment
upgrade projects, including a new Xerox Corp. plant at the company’s
Webster complex.

The 100,000-square-foot plant will produce a new kind of dry printing
ink, an emulsion aggregation toner which the company says is more
energy efficient to manufacture, and which produces sharper images.

COMIDA will give Xerox $355,000 in tax incentives for the new plant over a 10-year period.

The plant will cost $59 million and result in the protection of 50
current jobs and the addition of 40 new jobs over five years. Xerox’s
Webster campus is already the world’s largest toner production facility.

The company had considered building the plant in England, Canada and Oklahoma.

[Author]

September 22, 2005 at 10:25 AM