The Saratoga County Industrial Development Agency will award nearly $1.5 million in tax breaks to two manufacturing companies.
The tax breaks offset the cost for both PeroxyChem LLC and Greenfield Manufacturing Inc. to build manufacturing plants at the Grande Industrial Park in Saratoga Springs, New York. The industrial development agency approved tax incentive packages for the two companies Tuesday.
PeroxyChem, a Philadelphia chemical manufacturer, plans to build a 7,140-square-foot peroxide purification plant in Saratoga Springs, New York. PeroxyChem, which employs 600 globally, will receive nearly $894,000 in tax breaks over a period of eight years.
The move brings jobs and production from the company’s plant in Texas to New York. The company estimates the project will cost $23.1 million. More on that here:
Greenfield Manufacturing will receive $525,000 in tax incentives.
The specialty chemicals manufacturing company plans to construct a 33,000-square-foot factory in the Grande Industrial Park, where it leases a smaller factory. It will own the new building. More on that here: