Exclusive: NY Based Manufacturing Company Seeking to Move into Bensalem with Plans to Invest $50 Million

An out-of-state  manufacturing business is looking to relocate its headquarters to a vacant 300,000 square foot site bringing hundreds of new jobs with it, to the Trevose section of Bensalem Township, according to officials Lower Bucks Source is exclusively reporting today.

The added “good news” is the company is not an AI data center company, officials said.

Bensalem insiders said discussions of the potential move have been ongoing since early this year, with Governor Josh Shapiro’s administration keeping a close eye on the discussions.

The information about the potential move came to light during last weeks School District Business, Facilities, and Technology subcommittee meeting.

The owner of the New York-based company called into the meeting while Council President Ed Tokmajian Jr appeared in person seeking support for the potential move from the subcommittee before it can go to the full board for a vote, as the company in question would receive significant tax incentives in the form of a Local Economic Revitalization Tax Assistance (LERTA) designation.

Credit: Jeff Bohen. Lower Bucks Source

Tokmajian told committee members his appearance before them was to seek support for the proposed LERTA associated with a designated Keystone Opportunity Zone (KOZ) property

“I believe this is an opportunity to create significant new value for our community while protecting the tax base we already have. A company is interested in purchasing and occupying this more than 300, 000 sq ft facility with plans to invest over $50 million and create approximately 300 new jobs and bring additional substantial economic activity to Bensalem,” Tokmajian said.

The LERTA being requested is limited to the additional assessment for interior facility improvements of the existing building. There is a draft pilot  agreement in place to establish the assessment of the building’s exterior, according to Tokmajian.

LERTAs are a Pennsylvania tool letting municipalities offer temporary property tax abatements to encourage commercial or industrial development in designated areas. They need to be approved by the taxing authorities: the school district, the township, and Bucks County.

“We’re not giving anything away,” Tokmajian said. “Without this opportunity, the property ultimately could become a data center.”

If the current owner can’t sell the building, he could request from taxing authorities a reassessment of its value, which could potentially decrease income for the municipality.

The roughly 300,000-square-foot property was designated as a KOZ  site in this year’s state budget passed in July, according to Commonwealth records that was supported by Bensalem-based  lawmakers.

The site, according to officials, was to be occupied by a business moving from Philadelphia. However, the move was canceled once Philadelphia added additional tax incentives, and it currently sits vacant.

Company President only identified as “Steve” during the meeting said he is are hoping to plant the companies  flag in Bensalem for the next four generations of the business.

The unidentified business, has been operating in the “Big Apple” area for roughly  50 some odd years.

The total investment would be well in excess of $50 million and create high paying manufacturing jobs, and add about a 3 percent increase of motorist traffic, the business owner told the subcommittee

There is a little sensitivity on my part because we have hundreds of employees and want to let them know our plans when the time comes, the business owner said.

“Of all the places we could be located, Bensalem is certainly the right place for us. ”

Subcommittee members said they supported the idea.

Next  the LERTA plan will go before the full school board at its next meeting October 28 pending it is brought before Council prior to that, School Board officials  said.

The LERTA resolution is expected to be on the Tuesday October 13 Council meeting agenda, officials said. If passed by both governing bodies, it would then need to be approved by the Bucks County Commissioners.

Credit: Submitted