MALTA — A high-tech moving and storage company is planning to expand in Malta for the second time in a year.
Arnoff Moving & Storage, which moved from Albany to Stonebreak Road in Malta earlier this year, is planning a $4.7 million expansion that will add another 20 jobs over the next three years, on top of the 73 jobs there now and another 34 already expected to be created in the wake of the move.
The Saratoga County Industrial Development Agency on Monday approved a tax break package as an incentive for the expansion project, totaling about $788,000 over the next 10 years.
The expansion at the former Racemark International building will add another 43,780 square feet of warehouse space and a 7,872-square-foot truck maintenance operation to the building, which Arnoff leases part of to Applied Materials, an equipment contractor to the nearby GlobalFoundries computer chip plant. The existing building has about 100,000 square feet of space.
Arnoff opened its Malta location in June after an $11.6 million investment that also received an IDA tax break package. There was already talk of the planned expansion even as the move commenced.
The multi-generation family-owned company offers moving, shipping, logistics, warehousing and packing services. It is certified to move tools used in semiconductor manufacturing at places like GlobalFoundries and SUNY-Polytechnic in Albany.
The incentive package was negotiated through the Saratoga Economic Development Corp., one of Saratoga County's economic development agencies.
"We have been pleased to work with Arnoff to attract them here originally, and look forward to continuing to retain and grow businesses in Saratoga County," SEDC President Dennis Brobston said. "With Malta strategically located in the Capital Region, we have been working alongside other stakeholders with its town leaders to see their planning and zoning improvements deliver certainty that can attract commercial investment to grow the tax base and job options."
The incentives approved by the IDA include an estimated $559,000 in reduced town, county and school property taxes over 10 years; a sales tax exemption on building materials worth an estimated $203,000; and a mortgage tax exemption worth about $25,000.