The Board of Yonkers Industrial Development Agency recently passed a resolution to move forward with a public hearing and to negotiate an economic development package for the renovation of Hudson Scenic Studio, an award-winning national production and scenic fabrication firm that has served Broadway and the professional entertainment industry for nearly three decades.
Hudson Scenic Studio which is currently located at 130 Fernbrook Street in Yonkers has proposed a major renovation of 78 Fernbrook to accommodate manufacturing and warehouse facility. This $2,660,000 project will entail the renovation of an existing 50,000-sq-ft structure commonly known as the former Tyco Building creating 25 new construction jobs and 15 new permanent jobs while retaining 135 full time jobs.
“No sector of our economy is immune to the current recession, so it is imperative that Yonkers and the IDA use every resource available not only to bring new businesses to the city, but to make sure we maintain and grow the ones we have,” said Mayor Philip Amicone, chairman of the Yonkers IDA.
Inducements from the IDA for Hudson Scenic Studio to expand its operations could include a bond issuance, a sales and use tax exemption for materials and equipment used in construction as well as a structured property tax agreement. After a public hearing, the IDA will vote on a final development agreement.
“Passing this resolution is a critically important step in moving this project forward,” stated Ellen Lynch, president and CEO of the Yonkers IDA.