The Nassau County Industrial Development Agency Friday approved tax benefits for a $2.6 million relocation and renovation project proposed by a Brooklyn bialy and bagel maker.
Canarsie-based Bagels by Bell, a third generation family-owned manufacturer, plans to renovate a 32,000-square-foot industrial site in Oceanside that has been vacant since it was damaged by superstorm Sandy in late 2012.
Owners of the company said they plan to make the move to Long Island and begin operations in January. About 40 employees will relocate, and the company has committed to hiring at least 10 workers each year for the first three years after the move.
IDA executive director Joseph J. Kearney said the project represented a “Sandy recovery” effort, and that the company is going to bring the empty industrial site “back to life.”
Kearney called the combination of new jobs to be created and the company’s buying of the property “a win-win” for Nassau County. “Working with our partners in the state and PSEG and National Grid, we were able to bring this company to Nassau County,” he said.
The IDA approved Bagels by Bell for a sales tax exemption of up to $46,834 on the purchase of renovation materials and equipment for the facility, a mortgage recording tax exemption of up to $15,488, and a 15-year tax deal that freezes property taxes at their current rate — roughly $92,000 — for the first three years before increasing by 0.73 percent for the remaining years.
According to an independent economic analysis commissioned by the IDA, the bagel maker’s move to Oceanside would have a total economic impact over 15 years of $274.2 million.
“We’re excited and can’t wait to start moving,” said Jared Bell, 23, vice president of Bagels by Bell. “The Brooklyn boys are coming to Long Island.”