Gap Inc. gets state tax break to expand in Dutchess County

Major clothing retailer Gap Inc. will expand its facility in Fishkill, Dutchess County, as part of a deal that will grant it $12 million in state tax breaks.

The Poughkeepsie Journal's Craig Wolf has more:

Gap, Inc. plans to add 1,200 jobs over five years at its Fishkill distribution center, according to an application for assistance from the Dutchess County Industrial Development Agency.The application comes up for review by the IDA board Tuesday morning.The proposal involves bringing more work to the Fishkill site, said Cathy Maloney, executive director of the IDA and president of Dutchess County Economic Development Corp.There are 428 full-time equivalent jobs at the site now, according to the company's application, Maloney said.The 1,200 jobs would be additional ones.There is a planned $96 million investment in the site, Maloney said. The IDA is being asked for an extended PILOT, or payment in lieu of taxes agreement, and for tax breaks on the purchase of equipment.

On the state side, the Empire State Development Corp. has offered Gap up to $12 million in Excelsior Jobs Tax Credits, according to Gov. Andrew Cuomo's office.

"Gap Inc.'s decision to invest in their Fishkill facility – and bring as many as 1,200 jobs there over the next five years – is another sign that New York's economy is on the move," Cuomo said in a statement.

It's the second time Gap has announced its plans to expand the facility in the past year. In December, the state extended $1 million in Excelsior tax credits for the company to retain 1,100 positions in New York and add 170 new ones.

The 1,200 new jobs at the Dutchess plant will be on top of that, according to Cuomo's office.

(AP photo)