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COMIDA OKs tax breaks for East Rochester site

Rochester Business Journal
June 17, 2014

The holding company for Rochester Magnet Co. was approved for tax breaks Tuesday as it prepares to expand its East Rochester building by nearly 50 percent and add two jobs.

Connover Packaging Inc., recently acquired by Rochester Magnet, will move from 111 Parce Ave. in Perinton to the enlarged building at 119 Despatch Drive.

The County of Monroe Industrial Development Agency signed off on mortgage and sales tax exemptions totaling $41,223 for Carpentier Holdings LLC, which plans to add 4,800 square feet to its existing 9,800-square-foot facility.

COMIDA calculates the economic benefit to the community to be $268,587.

Rochester Magnet, which employs 14, distributes flexible magnetic materials and assemblies, and pressure-sensitive adhesives to print, point-of-sale display, sign-making, packaging and industrial application firms.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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