The Town of Islip’s Industrial Development Agency is giving tax incentives to two businesses that would create 20 new jobs and keep dozens more in the area.
The town is offering Carson Optical and M&M Canvas & Awning each a 10-year property tax abatement and sales and mortgage recording tax exemptions totaling $714,000, according to officials, as incentive to keep and bring business to the town.
The IDA has given more than 70 businesses similar tax incentives since 2004, records show.
The inducement resolutions were unanimously approved by the Islip Town Board during the IDA meeting Tuesday at Town Hall.
Residents will get a chance in the coming months to speak on the project proposals at a public hearing before the final votes are taken.
Carson Optical -- which develops optical equipment such as binoculars, magnifiers and telescopes sold at major retail chains -- will invest $3 million to relocate and expand its 24,000-square-foot operation in Hauppauge to a 50,000-square-foot facility on Fifth Avenue in Ronkonkoma. Eight new full-time jobs will be added while 25 jobs will be retained, town official said.
Twenty-five news jobs will be created and 15 others retained at M & M Canvas & Awning, which has created manual and motorized retractable awnings for iconic buildings such as Madison Square Garden, Radio City Music Hall and Carnegie Hall.
Since the business has grown by 60 percent last year, town officials said, the company is looking to relocate its 11,000-square-foot business in Huntington to Islandia, where it plans to invest $2 million and inhabit a 20,000-square-foot space.
“At the end of the day, the more businesses located in Islip Town, the better for our taxpayers,” Councilman John C. Cochrane Jr., the Town Council’s Economic Development liaison, said in a statement. -- SARAH ARMAGHAN