The Westchester County Industrial Development Agency is offering a Xylem, a water treatment equipment manufacturer, $562,000 in sales-tax exemptions to keep the company from moving to Stamford.
The IDA voted Thursday to offer the exemptions in a bid to keep the company’s 106 jobs in the county, according to an article in today’s The Journal News and LoHud.com by reporter Ernie Garcia.
Xylem, which is headquartered in White Plains, received a “substantial incentive package” from Connecticut, the company said.
In “The High Cost of Development,” published in October, The Journal News and LoHud.com reported on the region’s industrial development agencies and the tax breaks they offer companies, finding the incentives created thousands of jobs in recent but that they are not always effective..
To read Garcia’s full report on Xylem, click here.