Nassau County Executive Edward P. Mangano and the Nassau Industrial Development Agency announced the approval of economic development compacts that will bring two New York City companies to Nassau County and ultimately $115 million in new economic benefits to Nassau.
“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. From creating new jobs to generating economic activity in our local economy, these agreements are win-wins for Nassau residents.”
“These economic development compacts are proof that Nassau County can be competitive with other regions and is able to entice businesses to our county,” said Joseph Kearney, Executive Director of the Nassau IDA. “These are absolute home runs for the county.”
One of the companies, “R” Best Produce Inc., now in the Bronx, has agreed to relocate to Port Washington and bring with it 51 new jobs. In addition to bringing existing jobs, “R” Best 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.
“R” Best Produce, a wholesaler of fruits and vegetables now in Hunts Point, had been wooed by New York City officials to remain in the Bronx after its current lease expires in May and also by New Jersey officials who sought to bring the company there. The company shares ownership with the Uncle Giuseppe supermarket chain.
The compact with the IDA assisted “R” Best Produce in acquiring 99 Seaview Blvd., a 160,000-square-foot partly vacant industrial building for office and warehouse use.
Furthermore, Display Technology LLC, 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 also will create 25 full-time equivalent construction jobs. All told, the project will generate $64 million in economic activity.
Display Technologies, which manufactures beverage displays used in supermarkets and convenience stores, will lease 24,000 square feet at 1111 Marcus Ave., Lake Success, for its headquarters and operations. The company, whose customers include Coca-Cola, PepsiCo, Kroger and 7-Eleven, said it had outgrown its current facilities and that its British parent had considered consolidating its operations with other businesses it owns in Chicago and Milwaukee.
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 visitwww.nassauida.orgor call 516-571-1945.