A moving and storage company”™s own move to consolidate its metropolitan operations in Yonkers will bring 150 new jobs to the city, Yonkers officials said Wednesday.
Oz Moving and Storage Inc. plans to pay $9.5 million to acquire 498 Nepperhan Ave. and move 100 existing jobs there from its two facilities in the Bronx and Manhattan. A City Hall spokeswoman said the company expects to hire an additional 50 employees in Yonkers, which will also be the company”™s new corporate headquarters.
Oz will spend $950,000 to renovate the 155,000-square-foot industrial building, company officials told the Yonkers Industrial Development Agency board.
The city IDA board Wednesday provisionally approved a $171,000 mortgage tax exemption for Oz and approximately $26,800 in sales tax exemptions on materials used in construction. The IDA will negotiate a property tax abatement agreement with the company.
Yonkers Mayor Mike Spano, who also is IDA board chairman, in an announcement called the pending deal “another step in revitalizing the Nepperhan Avenue corridor. We are taking an empty building that currently pays minimal taxes and provides no jobs and making it a long-term contributor to our property tax base, expanding our income tax base and providing a source of new jobs for local residents.”
Yonkers IDA President Ken Jenkins noted the company will own its new quarters rather than lease as it does in Manhattan and the Bronx. “They are making a long-term commitment to Yonkers and have determined this is the right place for them to grow,” he said, calling the company”™s decision “a vote of confidence” in the city.
A bicoastal company, Oz Moving & Storage operate facilities in the Bronx, Upper East Side, Hillside, N.J., and Los Angeles.
