OGDENSBURG -- St. Lawrence County Industrial Development Agency extended a tax break with ACCO Brands Corporation Thursday with the expectation of creating 30 new jobs.
IDA CEO Patrick Kelly said the company requested the tax exemption as it works to upgrade its distribution facility in Ogdensburg. Kelly said the deal is expected to help the company provide 30 additional jobs within the county.
According to resolution, the project includes the renovation and modernization of the 941 ACCO Way property located in Ogdensburg.
It will also allow the company to purchase new machinery and equipment.
At the Thursday meeting the IDA approved tax $40,000 in additional sales and use tax exemptions. It also puts a $90,000 cap on aggregate sales and use exemptions for the project.
According to the resolutions the ACCO’s “project costs subject to sales and use tax have increased and the company has subsequently demonstrated a need for additional sales and use tax exemption benefit to complete the project.
The resolution sates that ACCO has already exceed its job creation requirements made under the original tax break.
Kelly said tax exemptions are one of many tools the IDA can use help local businesses grow.