A Hauppauge-based promotional advertising manufacturing company that considered relocating as a result of significant revenue losses has decided to stay in Islip after receiving a $2 million tax break, town officials said yesterday.
William Mannix, director of the town’s Industrial Development Agency, said during an Islip Town Board meeting that Positive Promotions Inc. has agreed to the town’s renewal of a 15-year payment in lieu of taxes agreement. The company’s decision keeps its 500-plus jobs in town, with a majority of the employees living in Brentwood, Central Islip and Bay Shore.
The PILOT will give the company a 60 percent break on its 2013 tax bill. It will also receive $1.3 million in assistance from the state.
Company officials have declined to comment.