Public hearing scheduled on proposed tax incentives for U.S. Gypsum expansion
The public is invited to weigh in during a public hearing at 4 p.m.
Monday Tuesday, June 24, on a proposal to provide U.S. Gypsum with tax incentives for a major upgrade to its Oakfield plant.
The proposed tax abatements total $375,748.
U.S. Gypsum is considering investing $23.6 million in the plant, adding production capabilities that would create 12 new production jobs within three years after the project is completed.
The United States Gypsum Corporation (USG) is considering upgrading its Oakfield, NY, paper mill, which currently supplies USG wallboard plants with the back paper "newsline" for sheetrock wallboard, to include face paper "manila" production capacity.
The Project includes replacing and relocating the hydropulper and detrashing equipment, stock cleaning, and manila production. Management has been considering upgrades to the facility as it is more efficient to produce the back as well as the front paper applications. Completing this Project will improve safety, quality, and efficiency to ensure the longevity of the facility as well as the retention and creation of manufacturing jobs.
The investment for the Project is expected to be approximately $23 million and will be implemented in three separate phases. Phase I activities, which are expected to commence approximately in the second quarter of 2014, will include replacing and relocating the filler pulper. Phase II will require stock cleaning which will commence in 2015. During Phase III, the facility will begin manila production which will commence in 2016.
If completed, the project is expected to retain 98 jobs at the Oakfield plant.
The proposed tax relief package includes $132,960 in sales tax exemption and $242,788 in property tax abatements on an 18,400-square-foot addition, creating an increased assessed value.
U.S. Gypsum would save $242,788 in taxes on the increase assessed value (while continuing to pay current property taxes) over 10 years.
The public hearing is scheduled to be held at the Oakfield Town Hall, 3219 Drake St., Oakfield.
Again, scheduled for the convenience of the players and not the public. Taxpayers who foot the bill for such giveaways are at work at 4 PM. But I guess it doesn't matter - GCEDC doesn't listen to the public anyhow.
From the fouth quarter 2013 financials, you can see how badly they need taxpayer dollars for the planned changes.
USG Corporation (USG):
Fourth Quarter 2013 vs. Fourth Quarter 2012
Consolidated Business Highlights
Sales increased 12 percent to $915 million
Operating profit of $60 million compared to an operating loss of $8 million
GAAP net loss of $3 million compared to GAAP net loss of $13 million
Adjusted net income of $22 million compared to adjusted net loss of $52 million
So....you'd rather see them shut the place down in a few years rather than give a break to a company that has been here for 100 years and possibly many more? They pay damn well there -people starting out can make in the mid 30's ,health benefits from day one,and a retirement plan with NO COLLEGE EDUCATION. How many college graduates with mountains of student loan debt(that we pay for one way or another) can you say that about? I'd rather give them a break and let them expand and upgrade rather that shutter the place and go to a neighboring state that would welcome them........
You can always submit written comments.
pick and choose..... pick and choose.......I can guarantee you that I will never be given a tax break.... if they can't afford to expand with out my tax money, then so be it.... turn the lights off......... if I don't pay my taxes my property goes up for auction...
the hand outs have to stop..... stop this madness........
as far as that pension goes, it will be there until it's time to collect it, then the company files bankruptcy and all pensions go down the toilet, my employer did it to me.
Well,I'd rather give my tax money to USG than all these leeches on "social" programs.