A seller of nail polish, hair color and other beauty products to hairdressers and cosmetologists is planning an $8-million expansion in Hauppauge.
Paramount Beauty Distributing Associates Inc. wants to purchase 125 Commerce Dr. for use as a packaging center, warehouse and office. The building is 10,000 square feet larger than the space that the company now rents in Edgewood.
Suffolk County offered Paramount tax breaks last week to keep the company from expanding in New Jersey and Florida, where it also has facilities.
“We’d like to keep our headquarters in Suffolk County but in order to do so we need these incentives,” said Susan Nicoletti, Paramount’s finance vice president.
“The e-commerce side of our business is growing and quicker turnaround is required . . . Where we are now is constricting our ability to grow,” she told the county’s Industrial Development Agency last week.
The IDA awarded the company $484,300 in tax breaks, including a $304,000 reduction in property taxes, a 27.5 percent savings over 10 years.
In return, Paramount committed to add 8 jobs to its payroll of 89 in Suffolk by 2020. An additional 68 employees are based in Boca Raton, Florida and in five New Jersey communities.
Records show the company’s local workers earn, on average, $61,400, per year, excluding health insurance and retirement benefits.
Family-owned Paramount was founded in 1958 by Alan Hagler, who retains a 28-percent ownership stake. His son, Jeffrey, is CEO, and Evan Feingold is president.
The company operates 23 Royal Beauty Supply stores, which sell to hairstylists, cosmetologists and other beauty professionals. Eight of the stores are on Long Island.
“We are no longer just a New York company; our area has expanded,” Paramount executives wrote in their application for IDA assistance, noting the company has customers in Connecticut, New Jersey, Pennsylvania and Florida.
IDA executive director Anthony J. Catapano, citing Paramount’s sales growth and ability to move, said, “they could be anywhere and we want them to remain in Suffolk County, to grow here.”