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Suffolk
County
Executive Steve Levy Seeks Expansion of Local Empire Zone for Three Companies
Legislation Would Retain 500 Jobs and Create 245 More in Biotech and Renewable Energy Industries
Hauppauge
, NY
–
Seeking to develop and expand employment opportunities in the growing biotech industry, Suffolk County Executive Steve Levy today announced three pieces of legislation to expand local Empire Zone boundaries for biotech and renewable energy manufacturers.
Levy today will file legislation today to expand Suffolk’s Empire Zone boundaries to include Amneal Pharmaceuticals and A&Z Pharmaceuticals. Additionally, the county executive recently filed a resolution to include Commack-based Bren-Tronics, Inc., in the Empire Zone.
“Expanding the Empire Zone to include these biotech corporations is a win-win-win situation,” said Levy. “The companies receive tax credits from the state, area residents gain new career opportunities, and the local economy is boosted through the retention and expansion of these companies in our community.”
By retaining Amneal, A&Z, and Bren-Tronics in Suffolk, the county is preventing the loss of 519 jobs – as well as facilitating the creation of 245 new jobs in the process. In addition, the three companies’ expansions will generate an additional positive impact to the economy through an anticipated investment of more than $26 million.
To date, the Suffolk County Empire Zone, through legislative approval of Regionally Significant designation, has amended its boundaries to include ten companies within its boundaries. In total, this designation has assisted Suffolk County in the retention of nearly 3,600 jobs with a commitment for the creation of 850 new jobs over the next three to four years. These designations have also brought with them a projection of $50 million in new investments for facilities and equipment.
Amneal, a generic over-the-counter pharmaceutical products manufacturer, is located in Hauppauge and is now seeking to expand its operations, creating 50 new jobs over the next three years in Suffolk County. Amneal Pharmaceuticals has been a staple of the Hauppauge Industrial Area for years, having two locations along Adams Avenue. The company also owns a major facility in Yaphank – within the boundaries of the Brookhaven Empire Zone.
Bren-Tronics Inc., is a manufacturer of renewable energy systems, including rechargeable batteries and charging systems, located in Commack.
A&Z Pharmaceuticals, a pharmaceutical products manufacturer, is located in Hauppauge, but is seeking to expand to a facility in Deer Park, which could be further accomplished by receiving Empire Zone benefits.
The New York State Empire Zone program was created to stimulate economic growth through a variety of state tax incentives designed to attract new businesses to New York State and to enable existing businesses to expand and create more jobs. In 2005, New York State realized that certain industry sectors, specifically manufacturing, high tech and finance, were leaving New York despite the traditional economic development incentives. To address the issue, the state amended the Empire Zone program to include Regionally Significant Project designations, which allow companies to access zone benefits, such as tax credits, no matter where they are located, as long as they commit to a certain level of new employment, leading to the rise of the Suffolk County Empire Zone.
To date, the Suffolk County Empire Zone, through legislative approval of Regionally Significant designation, has amended its boundaries to include ten companies within its boundaries. In total, this designation has assisted Suffolk County in the retention of nearly 3,600 jobs with a commitment for the creation of 850 new jobs over the next three to four years. These designations have also brought with them a projection of $50 million in new investments for facilities and equipment.
Levy noted that final approval for entering into the Suffolk County Empire Zone lies at the discretion of New York State’s Empire Zone Review Board; a process that usually takes about a month to gain approval.
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