Lockport Union-Sun & Journal — Gooding Co., Inc. wants to expand its production area by more than double its current size, but the Davison Road-based company is asking for a little help.
Gooding is seeking a standard 15-year Payment-In-Lieu-of-Taxes agreement for manufacturers. That would include an 80 percent tax abatement for the first two years, which would then be reduced to a 70 percent abatement for years three and four.
Years five through nine would come with a 60 percent abatement, then a 50 percent abatement for the rest of the PILOT. The Town of Lockport Industrial Development Agency will hold a public hearing on the proposed PILOT at 8 a.m. June 13 at the IDA building on Dysinger Road.
Gooding Co. President Jerry Hace met with the IDA Board of Directors on Thursday. The plan is to expand the 5568 Davison Road location, adding somewhere between 12,500 to 15,000 square-feet of production space. The current location is 16,500 square feet, but not all of it is used for production.
Hace said an exact cost of construction would be figured out in the near future.
The expansion project is expected to generate an estimated $2.7 million in benefits to the state and region; the IDA said, while the estimated value of the incentives to Gooding are $147,628.
Gooding employs 34 full time workers and six temporary employees. The 137-year-old company is a manufacturer of inserts and outserts for the pharmaceutical and medical industries.
• IDA Executive Director David R. Kinyon said the Rochester firm, Fibertech will complete installation of dark fiber lines along Upper Mountain Road and Junction Road by the end of the month. The lines are being installed for Yahoo, which plans to expand in the town’s IDA Park.
Dark fiber is a type of fiber-optic cable for communications that is used for high-speed Internet service.