Subsidy Tracker Individual Entry

Company: 
Lufkin Industries, Inc.
Parent Company: 
General Electric
Subsidy Source: 
local
Location: 
New York
City: 
WELLSVILLE
Address: 
2475 Tarantine Road
Zip: 
14895
Project Description: 

Assessor put exemption on tax rolls, so project was taxed on land only with taxes being paid to local tax collector and municipalities. Project ended December 2017. Lufkin company was bought by GE, who then shut the company down. No taxes were paid except for fire district in the amount of $1,937.63. GE later transferred the building to ACIDA in February 2018 and the building is now listed as wholly exempt on the tax rolls.

Year: 
2017
Major Industry of Parent: 
diversified
Specific Industry of Parent: 
diversified
Subsidy Value: 
$89,553
Program Name: 
Industrial Development Agencies
Awarding Agency: 
Allegany Industrial Development Agency
Type of Subsidy: 
tax credit/rebate
Capital Investment: 
$2,525,000
Notes: 

Subsidy value is total for the year of property tax abatements and sales tax exemptions less the net of payments in lieu of taxes. See original source for jobs and wage information. Description merges a general industry description with a project specific description as provided in the disclosure.

Source Notes: 
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