A decade later: Long Island companies that moved away
In 2004, Long Island had 100 top companies in the annual Newsday ranking of local public businesses, but in the 10 years that have passed the bulk have fallen off our list.
So what happened?
As part of our 2014 Top Companies coverage, we looked at the list Newsday ran in 2004 to find out just what changed for the firms once named among Long Island's most powerful businesses. In some cases they just moved, in others they were sold or went private. In a few cases, they actually closed down. We used past Newsday reports, company releases or Securities and Exchange Commission filings to compile the data.
The list below shows the firms that have moved their headquarters or their entire operations off Long Island since 2004.
1. Arrow Corp.
The 2011 move by electronics distributor Arrow Electronics was one of the biggest blows to Long Island's business environment in the past 10 years. The company took $11.4 million in tax breaks from Colorado to move its headquarters there and create more than 1,200 jobs in that state. At the time, CEO Michel Long was living in Colorado. The move sapped LI of its largest public company and in turn has given the Rocky Mountain State its own top company. The move hasn't meant job cuts on Long Island, but it still stings for the local officials who tried to get the firm to stay.
(Arrow's former headquarters - Newsday)
2. CoActive Marketing
Once based in Great Neck, events marketing and branding company Coactive Marketing Group moved to New York and in 2008 changed its name to MKTG. In May 2014, Japanese company Dentsu announced plans to buy MKTG for about $52 million.
3. Critical Home Care
In 2004, Westbury-based home care staffing company Critical Home Care moved its headquarters to Southfield, Michigan, one year after it engineered a reverse merger with Southfield-based Arcadia Services. CHC then changed its name to Arcadia Resources and was eventually sold to Elmsford-based BioScrip for $375 million.
4. DCAP Group
Hewlett-based insurance company DCAP Group in 2009 sold off its retail insurance locations across New York before acquiring Kingstone Insurance Co. later that year. DCAP eventually changed its name to Kingstone and moved its headquarters to Kingston in upstate New York.
(DCAP's former logo)
5. DHB Industries
DHB's history on Long Island is far more complicated than a move in headquarters. In 2006, David H. Brooks, who founded the body armor company branded with his initials, resigned amid allegations that he inflated company inventory and committed other manners of fraud aimed at boosting the company's stock so he could pocket millions in cash. After he stepped down, DHB moved its headquarters to Florida, was delisted, and changed its name to Point Blank Solutions. As for Brooks, in 2010 he was officially charged with insider trading and in September of that year was found guilty and sentenced to 17 years in prison. Recently, Brooks has asked for a new judge to oversee his restitution payouts, alleging the assigned judge has a bias against him.
(David H. Brooks - Newsday)
6. Emerging Vision
Formerly based in Garden City, Emerging Vision, which operates optical chains under the brands Sterling Optical and Site for Sore Eyes, moved to New York in 2010.
(Emerging Vision's logo)
7. Enzo Biochem
Though this biotech company specializing in gene-related testing still has a major presence on Long Island at its former Farmingdale headquarters, Enzo has moved its executive offices and official headquarters to Madison Avenue in Manhattan.
8. Gentiva Health Services
In 2009, Melville-based Gentiva Health Services, the largest provider of home health care services, announced it was moving its headquarters to Atlanta and slimmed down its Long Island staff. Recently, Louisville, Kentucky-based Kindred Healthcare has been trying to buy Gentiva, despite its latest $533 million offer being rejected by Gentiva's board. Kindred runs nursing and rehabilitation centers across the United States.
(Gentiva's former Hauppauge office - Google)
9. Griffon Corp.
An interesting company, Griffon Corp. makes garage doors while its subsidiary Telephonics Corp. makes electronics for the defense and manufacturing industries. In 2010, Griffon moved its headquarters from Jericho to Manhattan.
(Telephonic's headquarters - Newsday)
10. Netsmart Technologies
Software company Netsmart Technologies moved its headquarters to Overland Park, Kansas, in 2011 but it continued to expand its Long Island staff based at its former headquarters in Great River. In 2013, Netsmart acquired a New York City-based software firm, Defran Systems. Netsmart employs around 150 people in Great River.
(Netsmart's LI location - Newsday)
11. Newtek Business Services
Small business lender and service provider Newtek Business Services in 2006 moved its headquarters from Great River to Manhattan and cut several jobs on Long Island.
(A Newtek screenshot)
12. Weight Watchers International
Once one of Long Island's most visible brands, diet program and product company Weight Watchers moved its headquarters from Woodbury to Manhattan in 2005. The move cost Long Island jobs. The company dates back to 1961, when it was founded in Little Neck.
(Weight Watchers products)