A new compact will help a tech company expand operations into Hicksville.
New Hyde Park, NY - December 20, 2013 - Nassau County Executive Edward P. Mangano today announced the approval of an Industrial Development Agency (IDA) economic development compact that allows Designatronics - a high-technology manufacturer now located in New Hyde Park - to expand its operations in Hicksville while retaining nearly 240 jobs and adding 20 new employees to its workforce. The project is expected to generate $217 million in economic benefits for Nassau County’s economy.
“My policies of freezing County property taxes and removing bureaucratic red tape are working as companies such as Designatronics are expanding their operations and creating new jobs,” said County Executive Mangano. “With my economic development team, we have created and retained nearly 20,000 private sector jobs and Nassau County now leads the State of New York in terms of job growth. Together, we are creating new jobs and opportunities, attracting new businesses, and putting residents back to work in Nassau County.”
Designatronics will consolidate its operations at 250 Duffy Avenue into one of the largest industrial buildings in Hicksville. The company plans to purchase and renovate the existing 100,000-square-foot building at a cost of $11.25 million. They are currently in 98,000-square-feet of leased spaces. Renovations will also create 150 full-time equivalent construction jobs.
Designatronics is the nation's leading manufacturer and distributor of small mechanical, electro-mechanical motion control components and sub-assemblies. Through its subsidiaries, Designatronics sells to original equipment manufacturers and equipment users in medical, office equipment, plant maintenance, electronics, computer, communications and other industries.
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.