The Orange County Industrial Development Agency is set to reset its tax incentive policy and zone in on high-tech manufacturing and housing, according to proposed changes to its uniform tax exemption policy.
The local development agency, also known as IDA, is empowered by the state to grant incentives in property, sales, and mortgage recording taxes to drive desired economic growth.
A well-known project undertaken by the agency is LEGOLAND New York, whose developer got tens of millions of tax breaks in 2017 to build a $500 million amusement center with onsite lodging in Goshen.
The agency last updated its uniform tax exemption policy in 2019….