A manufacturer of screws, pins, cylinders and other precision-machined components has decided to stay in New York State, choosing to expand in Nassau County instead of out of state.
Supreme Screw Products Inc. will move from its longtime home in the Bronx to Mineola, where it will renovate two buildings at 59-65 E. Second St.
The $4.1-million project will preserve 36 jobs, which pay, on average, $52,000 per year including overtime. Another 29 jobs are to be created over three years, Misha Migdal, the company's owner and president, said last week.
"The whole idea of moving is to make a 21st-century business and to bring in new business," he said.
While Migdal expects to retain his current workforce, he said, "we will need a local workforce. I need five to six people tomorrow."
Migdal said Long Island's schools and trained factory workers were among the reasons he selected Nassau over Connecticut and New Jersey.
Supreme Screw provides precision-machined parts for automobiles, airplanes, firearms, electronics and medical surgeries. Its hardware is found in air bags, engines and hydraulic systems. Surgeons use the parts in closing wounds, laparoscopic surgery, orthopedics and spinal repair.
To support the company's move to Nassau, the county's industrial development agency negotiated a deal to freeze property taxes on the two Mineola buildings for 15 years, and then to raise them 1.66 percent in each of the next five years.
Supreme Screw also will receive $23,100 off the mortgage recording tax and a sales-tax exemption of up to $100,000 on materials and machines to equip the facility.
"We have coveted this company for months," said IDA executive director Joseph J. Kearney. "They were seriously thinking about leaving the state."
He praised Empire State Development Corp. for granting $600,000 in state tax credits in return for Supreme Screw's adding employees.
Kenneth Adams, Gov. Andrew M. Cuomo's economic development czar, said, "This is great news for Long Island's manufacturing industry . . . and the state is proud of our efforts to keep Supreme Screw Products in New York State."
The company's previous owner received a low-interest loan from the state in 1988 to purchase machinery and upgrade the Bronx factory, located near Yankee Stadium.
Nassau County Executive Edward Mangano said the company's expansion highlights efforts by his administration to create jobs and attract "new businesses from outside Nassau, putting our residents back to work and revitalizing local communities."
Since 2011 the IDA has convinced four New York City-based businesses to move to the county rather than leave the state.