YIDA Gives Boost to FedEx Facility and Boyce Thompson Projects
Boyce Thompson Before (top pic) & After (bottom pic)
A new regional FedEx distribution center in Yonkers got another step closer today as the Yonkers Industrial Development Agency (YIDA) approved incentives for FedEx to move forward with its planned $121.2 million distribution center along Tuckahoe Road. The 123,000 square foot facility will be built on the former site of the Tuckahoe Motor Inn.
The YIDA gave initial approval to a $2.33 million sales tax exemption on materials used in construction as well as a temporary property tax abatement. The new facility is expected to create 43 new jobs, and will also relocate 38 full and part time jobs from the current FedEx distribution center in the Bronx.
Mayor Mike Spano, who chairs the YIDA, said FedEx’s interest in Yonkers shows that the City’s effort to promote its proximity to transportation, to New York City and the Hudson Valley is paying off. “We are the link between New York City and the entire Hudson Valley,” said Spano. “Companies are realizing we have available property, the right location, and a highly qualified workforce.”
In other action the YIDA gave initial approval to assist the Simone Development Company’s Boyce Thompson project in northern Yonkers. Already under construction, it will provide an estimated 255 permanent jobs. The $25.5 million project will create an 85,000 square foot commercial facility on the 6.5 acre site, preserving the exterior of the original Boyce Thompson Plant Research Institute which has been empty since the 1970s when the Institute moved to Cornell University. Since that time the City has been seeking a developer for the property.
“This property has been empty for as long as most people in Yonkers can remember,” said YIDA President Ken Jenkins, adding, “It’s been a long journey to find a developer with the right vision and adequate resources, but we are finally there.”
The YIDA gave initial approval to providing a sales tax exemption on materials used in construction as well as a temporary property tax abatement. Simone had bought the property from the City for $4.25 million.
The project is expected to take 20 months, including renovation of the existing structure and the addition of a new 15,000 square foot addition to the original structure.