New York’s development professionals bring expertise, experience, best practices, and the resources of the state and their communities to every project they assist. These case studies are a sampling of those projects.
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Tessy Plastics Corporation
Tessy Plastics Corporation is a local company that provides precision custom injection molding services. The company began in 1973 and has three manufacturing sites: Elbridge, New York; Lynchburg, Virginia; and Shanghai, China. Tessy Plastics first approached the Onondaga County IDA for assistance in 2000. Since then, OCIDA has assisted the company on other projects.
Project Need (problem)
Tessy Plastics asked OCIDA in 2009 for additional financial incentives to assist with its construction of a 90,000 square foot stand alone building on its campus in Elbridge, New York. The expansion of the Elbridge facility will result in the retention of 120 full time positions that would otherwise be relocated to Lynchburg, Virginia.
Project Solution
Over the past few years, OCIDA has Tessy Plastic with sales and use tax exemptions, mortgage recording tax exemptions and a payment-in-lieu of tax agreement. In the past ten years, Tessy Plastics has grown from 250 employees to over 600 employees. The latest project is estimated to create 50 jobs.
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New York State Economic Development Council
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New York State Economic Development Council
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