Mangano: County Retains 147 High-Paying Jobs In Plainview With Assistance Of Nassau's Industrial Development Agency & Local Developer

Nassau County Executive Edward P. Mangano (3rd right) and officials of the Nassau County Industrial Development Agency (IDA), joined executives of BWD Group LLC and its landlord and developer, 45 EXEC LLC, at a ribbon-cutting ceremony to mark the opening of BWD’s new corporate headquarters, which was built through a successful public-private partnership enabling the company to keep 147 high-paying jobs in Nassau County. BWD, one of the nation’s largest private insurance brokers, recently completed construction of a 70,000-square-foot headquarters in Plainview.

“Long Island has lost too many jobs to other states. My administration and the Nassau County Industrial Development Agency are working tirelessly to retain employers and keep jobs in Nassau County,” said County Executive Mangano. “From holding the line on property taxes to reforming Nassau’s broken assessment system, my administration is fostering a more business-friendly environment on Long Island. In cooperation with the Nassau County Industrial Development Agency and local developers like 45 EXEC, we can, will and are retaining jobs and companies like BWD in Nassau County."

The property is leased from 45 EXEC LLC, an investment group headed by managing partner and local developer Michael Ambrosino of the East Meadow-based Ambrosino Consultant Corporation. 45 EXEC LLC invested $12 million in the project. Construction of the project created 35 full-time-equivalent construction jobs. Together, the jobs created and retained have a payroll of $20 million. The facility, on the portion of the Long Island Expressway S. Service Rd. known as Executive Drive and formerly an eyesore, was purchased in 2009 and renovated by 45 EXEC LLC.

Michael Ambrosino, managing partner of 45 EXEC LLC, stated, “The IDA provided a comprehensive benefits package, including a PILOT programwhich provided for a 10 year tax abatement and a sales tax exemption forcertain equipment used in finishing the space for BWD's occupancy. These benefits helped make the deal financially attractive so that BWD retained its headquarters in Nassau County.”

“The IDA was instrumental in keeping BWD in Nassau County,” said Eric Blumencranz, BWD Executive Vice President. “It equalized all the other options. Everyone from the County Executive to members of the board were very helpful in assisting us in this process.”

The IDA provided BWD with a property tax exemption and a sales tax exemption for purchases of equipment and furnishings for the new space. BWD, which has been in Nassau for 40 years, formerly was at 115 S. Service Rd, Jericho. BWD, founded in 1929 and family owned, had considered moving to Suffolk County or Blue Bell, Pa, where property costs and property taxes are lower.

“We are so pleased to assist BWD in finding a new home in Nassau County,” said IDA Chairman Jeffrey Seltzer. “It's a win-win for the County, BWD and its landlord. BWD’s decision to remain in Nassau demonstrates its faith in Nassau’s economic future."

About the Nassau County IDA

The Nassau County Industrial Development Agency consists of 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. The IDA provides assistance to business interested in relocating, expanding and financing new investments. It has provided assistance to a wide range of companies, from Arizona Iced Tea and Sleepy’s Mattress to Cold Spring Harbor Labs and Grumman Studios. For more information, please visit www.nassauida.org or call 516-571-1945.