LYONS — The Wayne County Industrial Development Agency has approved a package of tax incentives for Optimax, which is adding a 36,000-square-foot addition to its 115,000 square feet of space at its Dean Parkway complex off Route 104 in Ontario.
The company produces optical products for the semi-conductor, defense and aerospace industries.
The project is expected to create 50 full-time jobs over three years. That’s what company Controller Tom Starin told the IDA Board of Directors at its April 27 meeting.
It’s grow or else, the company said in its statement of need.
“Workforce and revenue have more than tripled over the past 10 years, but without significant expansion, this growth cannot continue,” the company wrote. “Specifically, over the past two years, the company’s position in the defense and aerospace markets has grown significantly through partnerships and significant internal engineering efforts. Our customers require that we continue to grow quickly in order to meet their increased demands. If we do not continue to meet our customers’ expectations, we risk revenue declines and potentially needing to reduce headcount.”
Or, as Starin told the board: “If we don’t continue to grow fast enough, they’ll find somebody else.”
The IDA ultimately agreed to approve a package worth over $1.5 million, after IDA agency and legal costs are factored. The package includes a 10-year payment-in-lieu-of-taxes agreement that reduces the taxable property by a little more than $1.4 million over 10 years, as well as sales and mortgage tax exemptions valued at $400,000.
“I’d just like to say it’s great and the expansion is great,” said Scott Johnson, the Sodus town supervisors who chairs the IDA board.
The project is expected to take 12-15 months to complete, Starin said.
“It will be entirely manufacturing space,” he noted.
The project not only creates 50 jobs, but retains another 355 existing positions.
Empire State Development said it is providing up to $700,000 in tax credits in exchange for Optimax’s job expansion and retention commitments.