MALTA – On Monday, Sept. 11, the Saratoga County Industrial Development Agency (IDA) approved an incentive package for Arnoff Moving and Storage, Inc.’s new $4.7 million expansion of its operations in Malta.
The Saratoga Economic Development Corporation (SEDC) assisted Arnoff with the application process.
In 2016, Arnoff was a client project of SEDC for the initial site acquisition, investment and incentives offered to relocate in Malta. That relocation has already produced 73 full-time jobs and is on pace to add 34 more per its original agreement with the IDA.
The expansion will add 43,780 square feet of additional warehouse space and a 7,672-square-foot truck maintenance operation. Each of these planned uses will create 10 new full time jobs.
The Arnoff application—prepared and submitted to the IDA by SEDC—calls for $788,000 of incentives, including $559,474 over 10 years in local property and school tax savings; sales tax abatement on materials for the expansion, with an estimated savings of $203,000; and mortgage tax abatement, with an estimated savings of $25,316.
The Saratoga County IDA reviewed the application, held its public hearing and voted to approve the Arnoff incentives at a meeting on Sept. 11 in Malta.
