Mar 22
2023
Yet another subsidy for Moog
The Erie County Industrial Development Agency on Wednesday rubber-stamped nearly $3 million in tax breaks for Moog, the defense contractor based in Elma. It was the 14th round of assistance from the agency since the 1970s. The IDA has now approved $12.8 million in subsidies for six Moog projects since 2006. Moog, a profitable company that netted $155 million last year, has won federal contracts in the past decade totaling more than $6 billion. The company manufactures parts for fighter jets, missile launchers, rocket ships and submarines. Federal contracts make up about half of its total business, while private aviation,[...]