Leveraging opportunities in New Jersey, Florida, and Georgia, a New York-based debt consolidation company has wrangled an additional $96 thousand dollars in tax breaks from the state as it doubles the size of its offices amidst plans to hire 150 more employees.
Strategic Financial Solutions has previously announced plans to have 1,500 employees at its second location — in Amherst, N.Y. The company moved into a new office in Amherst in 2017 and has 346 employees working in a 20,000-square foot facility. It wants to renovate an additional 25,000 square feet and bring in 150 new employees, according to a published report. The company originally committed to spending $20 million on its Amherst office.
To help the company achieve its audacious goal, a number of entities stepped up with incentives. Empire State Development offered up to $10 million in state tax breaks if Strategic Financial meets its employment goals, and the Amherst Industrial Development Agency pledged sales tax breaks of $96,250 in both 2017 and 2018. The company went back and asked for an additional $96,250 in sales tax incentives to help offset the $1.1 million it says it is spending on the new renovations.
To spur the approvals, Strategic Financial said it was offered “competitive incentive packages” to expand by entities in New Jersey, Georgia, and Florida.
The company had previously announced a $5,000 bonus
