Monday, August 13, 2007

Meet Mr. Giotto

I've mentioned Frank Giotto of Fiber Instrument Sales before, and he's back in the news.

"This new building that we're building is going to be for sales ... and warehouse," said Valerie Sitler, who is the president of FIS Blue and senior vice president at Fiber Instrument Sales Inc., which was founded by her father, Frank Giotto in 1985.

The two companies will operate independently.

At the OCIDA meeting Thursday, the agency's board approved a 10-year payment in lieu of taxes for FIS Blue.

Under the terms of the agreement, FIS Blue will save an estimated $25,000 by paying one-third of its property taxes for the first five years, and two-thirds for the remaining five years. The agency's board also approved mortgage and sales-tax exemptions that will save the company $47,500.

FIS Blue has two employees, but under the terms of its agreement with the agency, it must have eight employees by the end of three years, Duchow said. The average annual salary of those jobs will be $30,000, he said.

I believe Mr. Giotto is also the proprietor of Taypayers Talk, a website that advocates cutting the crushing burden of local taxes by consolidating services that I've linked to for some time.

Irony? Or just a businessman doing everything in his power to alleviate the very tax load he knows is driving business out of the state?


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