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Yonkers IDA Approves Incentive Deal to Keep Lighting Company in City
The Yonkers IDA has voted to negotiate an economic incentive package with Altman Lighting Company, in the hopes of encouraging the theatrical stage and architectural lighting company to remain in the City.
"Altman Lighting is a legend in the theatrical lighting industry and Yonkers is proud it calls our City home," said Yonkers Mayor Phil Amicone. "We will work with Altman Lighting and its new management team to reach a fair agreement that will allow this company to be competitive for the next half century while protecting and growing vital jobs and tax revenue for our City."
Altman Lighting is planning a $4.6 million facelift, which will restructure and modernize the company's entire 100,000 square-foot facility. Officials say the company plans to install new LED-driven technology, equipment and machinery and offer additional training for its workforce.
The 103 workers at the facility are expected to continue working with the company, plus an additional 10 may also be hired.
Altman Lighting, which was founded more than 50 years ago by Charles Altman, is a leading manufacturer of custom-made lighting systems. It has created systems for a variety of productions and organizations including the Blue Man Group theatrical production, the Museum of the City of New York, and the Las Vegas Natural History Museum.
The Yonkers IDA incentive plan would include a mortgage recording tax exemption, a sales and use tax exemption and a long-term property tax exemption.
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