ILION, N.Y. — The village of Ilion, with assistance from the Herkimer County Industrial Development Agency, has received $2 million in Restore NY assistance to repurpose the Duofold site in the village.
The village plans to put in motion a coordinated effort to improve housing stock, attract private investment, and regain jobs by developing the site into a mixed-use area with 81 market-rate residences. Village officials expect the project will not only beautify the village but also help revitalize it through the attraction and retention of businesses in the area. The project will also boost the village’s tax base and increase property values, they contend.
“This is great news and just continues the positive progress we have with moving the village forward with economic development and many other issues,” Mayor John Stephens said in a news release.
(Sponsored)
Embracing CHange Across the Generations
CH Insurance, Your LOCAL Partner for Insurance, Risk Management & Group Benefits Massive shifts have transformed workplaces and the world, including the insurance industry. From the advent of AI and
Final Regulations for the Advanced Manufacturing Production Credit
The IRS recently issued final regulations for the Section 45X Advanced Manufacturing Production Credit, clarifying and expanding key provisions from the proposed regulations released in late 2023. These updates are
Over the past two years, Ilion has contended with economic hardship and outmigration as manufacturing businesses have downsized or closed. The result has been lessened economic opportunities, decreased housing values due to vacant residential and commercial properties, and patches of neighborhood blight.
“We are excited to accept this grant and work with developers and the village of Ilion to continue this project and stimulate community and economic growth,” Herkimer IDA CEO John Piseck said.
