A public hearing will be held Tuesday for a proposed multiyear tax abatement for an Amityville Village company.
The Babylon Town Industrial Development Agency is proposing a 12-year tax abatement starting at 50 percent for Jaxson Rollforming Inc., a designer and manufacturer of display fixtures and display stand structures. The company’s tax payments would increase by 5 percent each year until reaching 100 percent in the 12th year of the payment in lieu of taxes, or PILOT, being offered.
The company came to Amityville in 2015, according to IDA chief executive Matthew McDonough. Jaxson’s initial investment was $5.35 million and 19 full-time employees on the 2.8-acre site at 145 Dixon Ave.
The IDA in 2015 gave Jaxson a 12-year PILOT starting at 40 percent. In the first year of that deal, June 2017 to May 2018, the company paid $12,562 of the $31,407 village portion of the property’s taxes.
Jaxson has added 46 full-time jobs since 2015, McDonough said. The company now aims to invest an additional $1.07 million. This investment would include renovating the company’s existing 47,000-square-foot building and constructing a 5,000-square-foot addition. Jaxson promises to create an additional 23 full-time jobs over two years for a total of 88 full-time jobs, McDonough said.
The new PILOT will be based off the total taxes for the property — $71,724 — not the existing PILOT, he said. While it will not mean a lot of immediate savings, McDonough said, it extends the company’s abatement by two years.
“It stimulates the investment into the village,” he said. “These folks are going to the downtown in Amityville Village and shop and have lunch and be a part of the community.”
The hearing is at 3 p.m. at Village Hall, 21 Ireland Place. The IDA is expected to vote on the deal at its March 21 board meeting.