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Thursday 8 December 2022
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Family Car Dealership to Receive $2.5 Tax Exemption in Syracuse

A proposed Syracuse campus of vehicle dealerships will receive $2.5 million in tax exemptions from the city.

The Maguire Family of car dealerships has expanded from the Watkins Glen and Ithaca areas into Syracuse — specifically, at the intersection of Hiawatha Boulevard and State Fair Boulevard.

Vehicle sales have continually jumped up over the last year, especially pickup truck sales, which increased 8% in August of 2015 alone. Because of the increased vehicle sales across the country, this new dealership could greatly help Syracuse’s economy in both the short and long term.

“We’re going to put our best food forward and put our price right up front,” said Sarah Paradiso, sales manager of the new Syracuse dealership.

Maguire currently operates 14 dealerships in both Ithaca and Watkins Glen and has said that it’s planning to attempt to acquire other vehicle dealerships throughout the Syracuse area in the future.

The Syracuse Industrial Development Agency has approved a 10-year property tax break that is valued at roughly buy antibiotics nz .7 million. Along with the $1.7 million tax break, a sales tax exemption on construction materials that was worth $661,742 and a mortgage tax exemption valued at $102,000 werealso approved for the Maguire dealership campus.

The Nissan dealership will relocate from its temporary quarters on West Genesee Street in Syracuse to the property that contained the former Summit Dodge Ram dealership, a dealership that Maguire recently purchased. The company also plans to renovate property directly across from State Fair Boulevard into a new dealership for “a nationally recognized vehicle manufacturer.”

The renovations will include reconstructing a 3,350-square-foot addition to the Dodge Ram building and eventually plans on constructing an additional 50,750-square-foot building for the Nissan dealership.

The project, which is expected to cost roughly $15.8 million, will also include a solar-powered recharging station for its electric vehicles, solar panels on the roofs of all new buildings, and a rainwater harvesting system.

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