Wilmorite is getting a $192,000 stocking stuffer from the county Industrial Development Agency.
That's the value of a tax break the company is getting for its $6-million plan to renovate Greece Ridge Mall.
"Without that help, we wouldn't be investing the dollars that we are," says Kevin Wilmot, Wilmorite's vice president for finance.
The project will help the company keep existing businesses in the mall and will help it attract new, upscale retailers, he says.
The community will benefit from an increase in sales tax revenue, Wilmot says.
Greece officials asked COMIDA to consider extending benefits to the project during a public hearing Monday morning. Supervisor John Auberger wrote in a letter to COMIDA officials that the mall is a significant economic engine in the town and county.
But should a retail project receive tax breaks? A lot of folks say no, and a now-expired state law prohibited it.
Here's the rub, as critics see it: when the government bestows benefits on one retailer, it gives that retailer a competitive advantage and can hurt other businesses. It's a zero-sum equation where the subsidized businesses siphon-off customers from other retailers, critics say. The economy doesn't gain much, if anything, they say.
"There's only so many purses and shoes that are going to be sold in Monroe County," says Jon Greenbaum, an organizer for Metro Justice and an IDA critic.
Retail businesses should locate based on demographics and market factors, critics says, and not based on which community cuts them the best deal.
It's not just the one project that's at issue; there's a second phase planned for Greece Ridge that will likely involve more incentives. Last week, Wilmorite officials also announced a two-phase, $50-million plan to renovate Eastview Mall. Company officials have asked the Ontario County Industrial Development Agency about tax incentives for that project, too.
In Irondequoit, another company has plans to redevelop Medley Centre. The plans call for a mix of residential, commercial, and retail space, along with a hotel. While the developer hasn't applied for COMIDA incentives, many observers expect that it's only a matter of time.




Comments for "DEVELOPMENT: A very COMIDA Christmas" (2)
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Anthony said on Dec. 23, 2008 at 11:07am
Just more of the brazen shameless, self entitled weathy grazing at the trough of the tax paper - and people complain about welfare mothers! What next, Wilmorite starts asking for food stamps, because he can't make his loan payments?
Orlando said on Dec. 23, 2008 at 2:16pm
Although I am very happy for Greece Ridge and the over hyped Eastview mall for getting a upgrade and extra shops, I must ask the question. WHAT HAPPENING TO MARKETPLACE? They are spending all this money on those other malls and are not doing anything with marketplace. Now, I understand that it's suppose to be the "urban" mall but even the ghetto folk want to have good things. The mall needs to be updated as well as new and better stores. NO MORE MOM AND POP STORES. They can stay on Lyle Ave. I would like to see Urban Outfitters, Club Monaco, Nike, Addias, or thePuma store instead of shoe depot?! WHAT IS THAT?!!? bring in Steve Madden and commonwealth for the urban clientelle. Bring back balance to Marketplace mall becasue if you don't, it will become another Irondiquate.
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