Deal Brings 40 Jobs, Benefit Local Economy to Tune of $58 Million
Nassau County Executive Edward P. Mangano and the Nassau Industrial Development Agency (NCIDA) announced the approval of an economic development compact that attracts Jesco Lighting Group, a Los Angeles-bound company, to Nassau County. Jesco Lighting Group will employ 40 full-time equivalent workers in Port Washington. The compact is estimated to provide $58 million in new economic benefit to Nassau County.
County Executive Mangano stated, “Nassau’s economic development team is working hard to create new jobs and opportunities for our residents. Attracting Jesco Lighting Group, along with our success of attracting Hain Celestrial, is good news for Nassau County residents as they provide employment opportunities for our residents.”
The compact permits Jesco Lighting Group, now in Glendale, Queens, to move its headquarters to a 66,000 square foot building located at 15 Harbor Park Drive in Port Washington. Jesco plans to spend $5.5 million to purchase the property and another $1 million on renovations and equipment. The project also will result in the creation of 10 construction jobs. The company plans to begin renovation of the building within 30 days of its closing of the compact with completion scheduled six months later.
“Not only does this compact bring a new business to Nassau, but it brings 40 jobs to Nassau County. Jesco’s potential move to Los Angeles was a credible threat and I am pleased we were able to bring them to Nassau County,” said Joseph Kearney, executive director of the Nassau IDA. “Without the Nassau County’s help Jesco would not have undertaken this project.”
Jesco, founded in 1998, is one of the nation’s fastest-growing lighting manufacturers, offering a comprehensive selection of contemporary, architectural, energy-efficient lighting fixtures for a broad range of commercial, institutional and residential applications. The company has showrooms inManhattan,Dallas,Las Vegasand City of Industry, California.
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.