Suffolk IDA offers tax incentives to tempt Estée Lauder to open $14.5M Melville facility

TRD New York /
Aug.August 27, 2018 01:35 PM

The Industrial Development Agency for Suffolk County offered up $895,000 in tax breaks to Estée Lauder in an effort to sway the cosmetics company to open a $14.5 million-dollar facility in Melville, rather than other locations its considering like New Jersey or Pennsylvania. The two states have made similar incentive offers to the company, Newsday reported. Estée Lauder already employs 2,502 people on Long Island and the expansion would add another 31 jobs to that tally. The company has proposed expanding its existing Melville facilities by renting an adjacent 51,580-square-foot building, which would require pricey upgrades. Estée Lauder is also trying to shrink its electrical bill from utilities companies and to get additional tax breaks from Empire State Development. [Newsday]


Related Articles

arrow_forward_ios

Islanders expect to break ground on Belmont arena project this summer, late composer’s Sands Point estate has another price cut & more Long Island real estate news

First hotel in decades could come to Babylon, waterfront Centre Island property gets $3M price cut & more Long Island real estate news

Nation’s first affordable housing development for LGBT seniors to open in Bay Shore, West Islip home with helipad hits the market & more Long Island real estate news

Jerry Wolkoff wants a new industrial building in Edgewood, former newspaper mogul’s Gold Coast mansion seeks $13M & more Long Island real estate news

Long Island’s hotel market could be headed for a downturn

Brookfield pitches $400M mixed-use project in Manhasset, Lake Success home from Whitney Houston film lists for $6.3M & more Long Island real estate news

Hamptons resi brokers remain resolute, despite a slumping luxury market

Arbor Realty CEO buys Bridgehampton’s Three Ponds Farm for $35M, Harry Macklowe’s East Hampton home lists for $21M & more Hamptons real estate news

arrow_forward_ios