ORANGEBURG – The Rockland County Industrial Development Agency has recouped the full $1.9 million in benefits received by Olympus Industrial America, Inc.

In 2003, the UK-based company moved its US headquarters from Nanuet to a new multi-million dollar 65,000 square foot facility in Orangeburg, but in 2009, headquarters centralized their operations and moved out of Rockland County.

The Rockland IDA has stringent conditions for receiving funding and paying it back, said Executive Director Ronald Hicks.

“If you lower your employment numbers or you don’t make the investment as you projected, or you change the operation within the structure that received the benefits, that is considered default and could be subject to recapture,” he said.

The IDA is going to be cutting checks to repay entities for their benefits, namely $328,997 to Rockland County government; $437,516 to the Town of Orangetown; $1 million to the Pearl River School District; and $215,000 to the state.