View the complete suite of Town Planning and Zoning Board of Appeals project application materials HERE.
For every $1 spent in warehousing another $3 is generated in community spending.
Calculations had been updated to reflect the MRB Group Highbridge Development Schoharie, LLC Route 30 A Development Economic and Fiscal Impact Analysis.
The Highbridge development may dramatically increase Town and County real property tax collections over the next 10 years.
As indicated in the County Budget Book, the Schoharie County Budget is heavily dependent on real property tax collection, estimated at 26% revenue or $22,597,987 in 2023.
Town of Schoharie total tax to be collected in 2023 is budgeted at $956,560.
How will the tax breaks work if the current agreement moves forward?
- Highbridge is working with the Industrial Development Agency to secure a Payment in Lieu of Taxes (PILOT) agreement.
- As the current anticipated real property tax payment will be honored throughout the first 5 years, there will be no loss in expected real property tax revenue.
- Typically, for the first 5 years they will will pay the current real property tax. Today, real property tax on this vacant land is estimated at $13,651 combined collection for all taxing jurisdictions.
- Typically, after the proposed $67,800,000 new construction investments, beginning in year 6 of the agreement, they will begin paying real property tax on a percentage of the new assessed value.
- Current estimates indicate that the resulting tax will be more than 30X the current amount billed by end of year 6.
Planning Board Presentation
Economic Impact Report
When Amazon Comes to Town
The quaint and rural town of Schodack in Rensselaer County became the home of a "mammoth" Amazon distribution facility in September 2020. Since then, the community has seen a variety of impacts. For small business owner Jason Grant, making an effort to build a relationship with the new facility has proven to be worthwhile for him and his business. Jason, owner of The Crisp Cannoli Bakery & Cafe in East Greenbush, immediately reached out to "everybody and anybody" after ground was broken on the new facility and dropped off boxes of free pastries and breakfast sandwiches for employees. As a result, Jason has successfully established a strong relationship with the facility's employees and administrative staff. Jason has consistently catered large orders from administrators and sees facility employees in his bakery on a regular basis.
Click to read the full article.
* industry standards may include full or part-time jobs. Job counts will be revised based on the Highbridge formal Schoharie County Industrial Development Agency (SCIDA) application submission.
Economic Policy Institute, 2019
Average Wages Sources:
Department of Labor – Wage Comparison