By Mid Hudson News -www.midhudsonnews.com
Apr 1, 2021
WARWICK – The Orange County Industrial Development Agency Board has granted final approvals for financial incentives to Fiorello Pharmaceuticals to develop a growing, processing, manufacturing, and wholesale cannabis products facility at the Warwick Tech Park.
The company plans to develop a 400,000-square-foot facility at the site of the former Mid-Orange Correctional Facility in the Town of Warwick and receive a 15-year payment-in-lieu-of-taxes as well as sales tax exemption on construction materials and an exemption on the mortgage filing fee.
IDA Board Chairman Michael Torelli said taxing entities, which currently receive no revenue on the property, will reap full financial benefits under the arrangement.