Geneva IDA OKs Guardian tax deal

Corporate welfare or the reality of what it takes to retain businesses — and jobs — in the highly competitive world of economic development, especially in upstate New York?

That’s the dilemma the city’s Industrial Development Agency faced in pondering a new tax-incentive package for Guardian Industries at its meeting Tuesday morning.

Ultimately, IDA members decided that rolling the dice — and the possibility of losing hundreds of jobs — was a gamble it could not risk.

The decision followed an IDA public hearing Monday night where many residents implored the agency to turn down the new incentive package, which will cost the three taxing entities — the city, school district and county — up to 32 million.

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