Local officials met last night to decide whether or not they will grant a tax abatement package which would allow Tioga Downs to construct a six-story hotel and convention center.
The Tioga county Industrial Development Agency’s Board of Directors considered a resolution which would authorize approximately $5.2 million in tax breaks for the project. Tioga Downs owner Jeff Gural has said the tax abatement package will allow his company to go forward with the expansion project. Gural also plans to enter Tioga Downs into the running to obtain one of three casino licenses Governor Andrew Cuomo said would be granted in upstate New York.
The expansion itself would cost over $52 million and would include a 135-room, six-story hotel and an event center of over 85,000 square feet. In the proposal, Tioga Downs would add 70 employees to its work force and over 2 million dollars to its payroll.
The county’s industrial development board of directors approved the tax abatement last night at 5:30 at the Tioga County Office Building.
