HVAC firm pledges to bring 194 jobs in return for tax breaks, IDA says
Fahd Reyaz, legal counsel for ACS System Associates Inc., and his father Ahmad Reyaz, president of ACS, at the company's facility in Mount Vernon in September. Credit: Marisol Diaz-Gordon
Nassau County has awarded tax breaks to an installer of heating and air conditioning systems to support its $12.4 million move to the county from Mount Vernon in Westchester County.
ACS System Associates Inc. will receive a sales-tax exemption of up to $251,650 on the purchase of construction materials, equipment and other supplies for two buildings that the company is purchasing in Woodbury and New Cassel, the county’s Industrial Development Agency decided Wednesday.
There also is a $29,400 reduction in the mortgage recording tax and a 15-year deal on property taxes that freezes the tax rate for three years followed by increases of 1.84 percent in each of the following 12 years.
In return, ACS has pledged to move 194 jobs to Nassau. The company had considered expanding in New Jersey, its real estate attorney Nicholas Terzulli said.
James T. Madore writes about Long Island business news including the economy, development, and the relationship between government and business. He previously served as Albany bureau chief.
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Heavy rain today ... EPA restricts chemicals in LI groundwater ... New markets in Hempstead ... Personalized gifts
