Necco Conundrum: Company Has Emerged as a Major Issue Between Mayoral Hopefuls

August 3, 2011
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The Necco candy company is the city’s largest taxpayer and one of its larger employers. The company got a special tax dispensation from the city almost a decade ago, a TIF, with numerous stipulations regarding employment numbers, tax payments, et cetera.

That TIF, its stipulations and Necco’s failure to adhere to all of them has become a major campaign issue between mayoral candidates Dan Rizzo and George Rotondo.

Rizzo’s view of the situation is that Necco paying its taxes, about $1.3M a year, is a good partner with the city.

Rotondo would like Necco’s TIF withdrawn by the city and he claims Necco would owe the city $300,000.

Necco should keep to the letter of the law with its TIF but the overriding importance of maintaining its more than $100,000 per month in business taxes that the City coffers so badly need must also be considered.

The Necco issue is not going away.

Let’s hope the company continues making their tax payments.

  • http://twitter.com/MikeFROMRevere Mike Carter

    The TIF was given in much better times. We can no longer afford to give a $37 BILLION company $300,000 to give jobs to the good people of Chelsea. This TIF is greater than the entire budget for Elderly services for the city of Revere. How is that fair?

  • http://twitter.com/MikeFROMRevere Mike Carter

    I am going through campaign finance reports to see which city councilors took donations from NECCO/American capital employees. Certainly it would seem to me to be a conflict of interest to accept donations from employees of a company benefiting from a tax break that takes money away from people who need it most. A $37 billion dollar company convinced our council they would have to shutter a subsidiary with $100 million in sales if they lost a $300,000 a year tax break? The best part is the company sent a guy who owns a 2 million dollar home to hustle the council out of the money. Yes. I said it. YOU GOT HUSTLED.

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