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Fast Linen Service, Inc., has plans to purchase a 32,000-square foot property at 945 Nepperhan Ave., the Yonkers Industrial Development Agency announced Wednesday.
The Nepperhan Avenue space, which is five times larger than the linen provider’s current location in the Bronx, will allow the company to triple its sales, Fast Linen projects. The move will also allow the company to add 12 new, full-time positions for a total staff of 42 employees.
“This is a win for Yonkers and the region,” Mayor and Yonkers IDA Chair Mike Spano said. “Current employees can stay with the company, yet people will also be able to obtain the new jobs that will result from the larger location.”
Fast Linen projected it will spend roughly $3.6 million to purchase and renovate the Yonkers property. To help with the transition, the city’s IDA announced it intends to provide more than $100,000 in mortgage and sales tax exemptions. The IDA also expects to negotiate a temporary property tax abatement.
Officials said the jobs brought to Yonkers will pay between $18,000 and $50,000 a year, with a total estimated payroll of $1.05 million annually.
“Providing about a hundred thousand dollars in tax incentives to bring more than forty jobs to Yonkers is a good return for the City,” said Spano, “This is an example of the City and the IDA helping business grow in Yonkers.”
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