Moog Inc. won approval for a 15-year property tax break for a $25 million expansion at the Wheatfield Business Park, the onetime Bell Aerospace plant, where it leases space.
The Niagara County Industrial Development Agency also included an exemption on paying sales tax for building materials, equipment and furnishings for two new buildings Moog intends to erect in the next five years.
IDA counsel Mark J. Gabriele said the property tax break, valued at $813,000, goes to the owners of the plant, while Moog benefits directly from the sales tax exemption, with the savings estimated at $617,000.
Moog produces space propulsion equipment and expects to add 50 jobs in Wheatfield. Moog also has received incentives for the project from Empire State Development and the New York Power Authority.