Mangano & IDA: 70 New Private Sector Jobs Coming Soon To Family-Owned Business

Family-Owned Penn Toyota of Greenvale to Expand in Nassau

Nassau County Executive Edward P. Mangano and the Nassau County Industrial Development Agency (IDA) today announced the execution of an economic development compact designed to benefit the local economy by generating nearly $19 million in economic activity and the creation and retention of 129 private sector and construction jobs associated with the renovation and expansion of Penn Toyota automobile dealership.

County Executive Mangano stated, “Nassau County is working tirelessly to retain local employers and assist those companies who seek to grow and expand their business. With assistance of the IDA, we are creating new high-paying jobs that put residents back to work in the private sector. From creating new jobs to generating millions of dollars in economic activity for our local economy, today’s economic development agreement is a homerun for Nassau residents. I am thrilled that Penn Toyota will expand their operations in Nassau, and hope they continue to serve the County for another 35 years to come!”

Penn Toyota, located in the hamlet of Greenvale, has operated as a family-owned dealership for over 35 years. With the assistance of the IDA, Penn Toyota will make the necessary renovations and expansions needed to comply with national Toyota standards. The renovation allows Penn Toyota to retain 59 current jobs, create 50 new construction jobs and create 20 new full-time private sector jobs. Together, these investments in job creation will benefit the local economy to the tune of $19 million.

“Penn Toyota approached the IDA with a clear choice: either we find a way to help them renovate, or they would close up shop, said Joseph J. Kearney, the IDA’s Executive Director. “The IDA is in the business of finding creative solutions to retain and create jobs in Nassau County.”

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 businesses 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.