Drugmaker OSI repays $750,000 in tax breaks after leaving LI
The remaining OSI Pharmaceuticals laboratory at the Broad Hollow Bioscience Park at Farmingdale State College would close and most of the staff be laid off, the company announced May 13, 2013. Credit: Jessica Rotkiewicz, 2011
OSI Pharmaceuticals, which moved out of state from Farmingdale in May, has repaid $750,222 in sales taxes owed to New York State and Suffolk County, officials said Thursday.
Anthony Manetta, executive director of the county’s industrial development agency, said it received the money last week. The IDA sought to recoup savings OSI received from a sales tax exemption.
The IDA and state provided incentives to the drugmaker in support of its plan to expand at the Broad Hollow Bioscience Park in Farmingdale. The help was contingent on creating jobs and had to be repaid because the company terminated most of the 115 people who work in its local office and laboratory.
OSI parent, Astellas Pharma Inc. said in May that it was leaving Long Island as part of a global consolidation that also shuttered facilities in California and Illinois.
Founded three decades ago, in part with technology developed at Cold Spring Harbor Laboratory, OSI grew rapidly after federal authorities approved the lung-cancer drug Tarceva. In 2010, the drugmaker was purchased by Astellas Pharma of Japan for $4 billion.
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