AIDA approves PILOT and tax exempt benefits for EK Granite Stone 


EK Granite Stone received a boost to their plans for relocating their counter-top business to the City of Amsterdam at Wednesday’s Amsterdam Industrial Development Agency meeting. Board members approved a 10 year Payment in Lieu of Taxes agreement for the business as well as a one-year New York State tax exemption.

The company builds granite, marble, and quartz counter tops and was previously based in Latham, but lost their building to a fire. The company then purchased property at 53 Edson Street, site of a former car wash business, at the recent city auction. The company plans to build a 1,200 square foot building on the property for their operations, and renovate the existing building to house a showroom.

The PILOT agreement will reduce the amount of property taxes the business will be required to pay on the assessment of the buildings on the property, beginning with 0% in 2018 and increasing by 10% each year.

The one-year tax exemption applies to purchases related to construction of the new building and other equipment, as well as mortgage recording taxes.

In April of this year, AIDA approved a $40,000 loan to the company for the construction of the new building.

Tim Becker

Tim Becker is the owner of Anthem Websites Inc. which publishes The Compass. He serves as both editor and a writer.