Yonkers agency OKs incentives to lure 182 Internet jobs
Yonkers economic development officials have approved $408,000 in sales and use tax exemptions in a bid to lure 182 jobs from IAC/InterActiveCorp's search unit to a 40,000-square-foot space at the i. Park Hudson campus.
Melvina Carter, president and chief executive of the Yonkers Industrial Development Agency, acknowledged that IAC, known for its Match.com, Ask.com and Newsweek brands, also had looked at sites in Connecticut and New Jersey.
"They were doing their homework," she said. "They were trying to find the best fit for their company."
The status of those initiatives was unclear, and IAC officials did not immediately respond to requests for comment. The Yonkers Industrial Development Agency approved the incentives Tuesday.
Carter said the estimated $4.8 million construction project is smaller than the typical $20 million to $60 million deal handled by the agency, but the potential impact is great.
"Yonkers is aggressively trying to attract high-tech firms," Carter said. "We're very excited about it."
IAC, whose headquarters are on 18th Street in Manhattan, is run by Barry Diller, a onetime Hollywood studio executive who cobbled together a wide-ranging collection of Internet businesses such as dictionary.com, urbanspoon and okcupid. In the fourth quarter, IAC posted a 28 percent increase in revenue year over year to $765.3 million, but it also recorded a 10-cent decrease in diluted earnings per share to 43 cents amid restructuring charges and losses in its media unit.
Calls to IAC were not immediately returned.
The i. Park Hudson complex, which sits at the Yonkers Metro-North station, covers 24 acres and features 800,000 square feet of commercial space in eight buildings. Tenants include Kawasaki Rail Car Inc. and biotech company ContraFect Corp.
The IAC space would be in building four at 29 Wells Ave., according to the company's IDA application. Remodeling the space would take about six months.
The search unit includes About.com, which was purchased by IAC from The New York Times Co. in 2012 for $300 million in cash, and Ask.com.
The property is owned by Greenwich, Conn.-based National Resources, a real estate development and investment company. Officials at National Resources were unavailable for comment.
The company also owns the Hudson Harbor residential development in Tarrytown and the i. Park Lake Success property on Long Island.