Approval Of Economic Development Compacts Bring Jobs To LI
Published on January 17, 2013 · Filed Under Business
Two New Businesses Create Over 120 Jobs In Nassau County
(Long Island, N.Y.) The approval of economic development compacts will bring two New York City companies and $115 million in new economic benefits to Nassau County was announced this week by Nassau County Executive Edward P. Mangano and the Nassau Industrial Development Agency (IDA).
Mangano said that, in an effort to combat the hardships faced by many Long Islanders as a result of a downtrodden national economy, his administration is working as hard as possible to bring employment to residents.
“Nassau’s Economic Development Team is hard at work creating new jobs and opportunities for our residents, attracting new businesses, putting our residents back to work and revitalizing local communities,” he said. “From creating new jobs to generating economic activity in our local economy, these agreements are win-wins for Nassau residents.”
The Nassau IDA is a team of professionals whose mission is to promote the economic welfare and prosperity of Nassau County. It is a resource for businesses in Nassau County and those considering relocation. Joseph Kearney, Executive Director of the Nassau IDA, said that this announcement is just the beginning of a resurgence of job growth on Long Island.
“These economic development compacts are proof that Nassau County can be competitive with other regions and is able to entice businesses to our county,” he said. “These are absolute home runs for the county.”
The announcement concerns two companies; the first company, Bronx-based “R” Best Produce Inc., will relocate to Port Washington, bringing 51 new jobs into the area. In addition to bringing existing jobs, “R” Best, which shares ownership with the Uncle Giuseppe supermarket chain, is expected to add 12 new positions within three years of its move. It is anticipated that the project will create 25 full-time equivalent construction jobs. The move is expected to produce almost $51 million in economic benefits.
The second company is Display Technology LLC, a firm that manufactures beverage displays used in supermarkets and convenience stores. They will move from College Point, Queens, to Lake Success, bringing with it 61 jobs and a promise to create four additional jobs within three years. The move will also create 25 full-time equivalent construction jobs. All told, the project will generate $64 million in economic activity.