An electric supply company based in Vermont will purchase a building in Saratoga Springs and convert into a distribution hub as well as offices, keeping jobs in the area and creating future job opportunities.
Green Mountain Electric Supply Inc. had expressed the desire to purchase a 143,000-square-foot office and distribution center from SKS Bottle & Packaging Inc. at 10 Skyward Drive, off Geyser Road.
The company has filed an application with the Saratoga County Industrial Development Agency seeking a tax incentive package that would help finance the transaction.
In late July, the IDA voted to award $1.56 million in tax incentives. That includes $91,000 in sales tax exemptions, $105,000 in mortgage tax exemptions and $1.4 million in property tax exemptions over five years.
The company, a lighting, cable, alarm system and electrical parts distributor, will purchase a 22.3-acre complex that contains the building. The structure would be converted into a distribution hub that also would house the firm’s financial team.
Green Mountain was founded in 1953 and is in its third generation of ownership. Headquartered near Burlington, Vt., Green Mountain has rapidly expanded its presence across upstate New York, growing to 16 branches and two distribution centers. The company expanded into New York in 2008 through the acquisition of Glens Falls Electric Supply in Queensbury.