The Town of Brookhaven Industrial Development Agency (IDA), announced that the agency has closed on an economic development incentives package for Biocogent
Frederick C. Braun III, Chairman of the Town of Brookhaven Industrial Development Agency (IDA), announced that the agency has closed on an economic development incentives package for Biocogent, a research and development biotechnology company that also manufactures dermatologic ingredients used in topical skin care and medical skin care products. Currently located in Stony Brook’s Long Island High Technology Incubator, Biocogent plans to expand its bio-operations to 19 Pinehurst Drive in Bellport, where it will renovate an existing 11,600 square-foot building. The location is the former site of a sheet metal manufacturer.
Biocogent will be using the economic development incentives to invest further in infrastructure and equipment and bring outsourced manufacturing back to Long Island.
Employing a multidisciplinary team of scientists, engineers and industry professionals, Biocogent utilizes clean and renewable biotechnology to produce its more than 50 dermatologic products it sells to manufacturers of “branded” skincare and med-care products around the globe.
“We are excited to have the opportunity to work with the Brookhaven IDA to enable us to expand our business operation on Long Island,” said Joseph Ceccoli, President and CEO of Biocogent. “We share a strong mutual commitment to Long Island’s continued growth as a biotechnology leader in the region.”
“High-tech, well-paying manufacturing and R&D jobs like what Biocogent will bring to the Town of Brookhaven is what will help stem the brain drain of our young people,” said Braun. “The economic future of Long Island depends on attracting and retaining companies like Biocogent.”
The expansion of Biocogent’s operation will require a $10 million capital investment and additional personnel for its Bellport location. Biocogent will retain its operations and personnel currently located at the Stony Brook Long island High Technology Incubator.
About the Town of Brookhaven Industrial Development Agency
Since 1970, the mission of the Town of Brookhaven Industrial Development Agency is to improve the quality of life for Brookhaven residents by promoting and assisting the growth of businesses who support the Town through capital investment and the creation and retention of jobs. The IDA has issued millions of dollars in tax-exempt or taxable bonds and provided assistance through straight lease deals to encourage companies to either locate or expand in the Town of Brookhaven. This assistance has been extended to companies both large and small and has resulted in the direct creation of thousands of jobs for Brookhaven residents. The IDA has provided assistance to a wide range of companies, including Shoreham Energy LLC, Burmax, Intercounty Appliance, Suffolk Transportation, Tate’s Holding Company and D&F Patchogue. For more information, visit BrookhavenIDA.org or call 631-451-6563.