Yonkers IDA Incentives For Broadway Production Company

Yonkers IDA Incentives For Broadway Production Company

Courtesy of Westchester.com

Saturday, 06 June 2009

Yonkers, NY - The Board of Yonkers Industrial Development Agency (IDA) unanimously passed a resolution to move forward with a public hearing and to negotiate an economic development package for Hudson Scenic Studio, an award-winning national production and scenic fabrication firm that has served Broadway and the professional entertainment industry for nearly three decades. Currently located at 130 Fernbrook Street in Yonkers, Scenic Hudson has proposed a major renovation of 78 Fernbrook to accommodate a new manufacturing and warehouse facility. “No sector of our economy is immune to the current recession, so it is imperative that Yonkers and the IDA use every resource available not only to bring new businesses to the City, but to make sure we maintain and grow the ones we have” said Mayor Philip Amicone, chairman of the Yonkers IDA. “Hudson Scenic Studio’s presence in our City demonstrates our strength and stability, as well as our appeal to a broad range of industries. We look forward to working with them as they bring more jobs and tax revenue to our City.” The $2,660,000 project will entail the renovation of an existing 50,000-square-foot structure commonly known as the former Tyco Building. The Hudson Scenic Studio project will create 25 new construction jobs and 15 new permanent positions while retaining 135 full time jobs. Inducements from the IDA for the project could include a bond issuance, a sales and use tax exemption for materials and equipment used in construction as well as a structured property tax agreement. After a public hearing, the IDA will vote on a final development agreement. Ellen Lynch, president and CEO of the Yonkers IDA, added, “Proximity and accessibility to New York City gives the City of Yonkers the ability to attract a business like Hudson Scenic Studio. Passing this resolution is a critically important step in moving this project forward.” Among the services offered by Hudson Scenic are carpentry and stagecraft; scenic and backdrop painting; custom lighting services; production design, planning and budgeting; set electronics; rigging system design and installation; automation and mechanization; among dozens of other expert services. The public hearing will be held on June 11 at 5:30 p.m. in the Mayor’s Reception Room at Yonkers City Hall, 40 South Broadway.