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Cortland County IDA Approves Incentive Package to iSpice – Guarantees 350 Jobs to be Created


It was a unanimous vote on Monday as the Cortland County Industrial Development Agency voted to finalize over $3 million dollars in local tax incentives to iSpice, LLC. in exchange for 10 years worth of benefits. With this, iSpice has agreed it will create up to 350 jobs over the time period, but says the job number will most likely be higher.

Cortland County Industrial Development Board Chairman Michael McMahon said, “this type of project is perfect fit for Cortland County, returning manufacturing jobs to the former Voyant facility in less than a year after it closed was a priority for the IDA”.

iSpice will be awarded $1.2 million dollars in sales tax exemption in order to support the purchase of production equipment at the facility on Central Ave. in the City of Cortland. The company will also receive a $126,000 mortgage recording tax exemption and a $1.7 million dollar property tax exemption.

The local incentive package is in addition to what the state has provided iSpice which included a low-cost ReCharge NY power allocation from the NY Power Authority, and an incentive package from Empire State Development.

IDA Executive Director Brendan O’Bryan said, “the IDA Board scrutinized this deal to make sure that the incentives were appropriate for the project, we look forward to working with I-Spice to fill the many jobs they will create.”

On top of the job creation the IDA payment in lieu of tax (PILOT) agreement will spur a $25 million dollar investment to the 500,000 square foot facility which will include the development of a laboratory for research and development of new products.

Cortland Mayor Scott Steve who worked to bring the spice packaging company to Cortland thanked the IDA for its work to finalize the deal to support I-Spice, “this project demonstrates the excellent working relationship our IDA has with its municipal partners.” Steve went on to say he expects the company to bring more than jobs to the community, “I-Spice has pledged to support local quality of life initiatives and work with local suppliers and vendors.”

I-Spice is based out of Pointe-Claire Quebec. The company provides over 200 products in 13 countries and has been in business for over 30 years. The company supplies ingredients to the food industry, institutions, wholesalers, and retailers. With products from Vietnam, India, and Brazil.

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