Islip OKs $1.04 million tax abatement extension

The Islip Industrial Development Agency Tuesday unanimously approved the extension of a $1.04 million tax abatement for Broadridge Financial Solutions, part of a comprehensive benefits package from state and county officials that will preserve 1,600 local jobs.

The $2.2 billion company, which provides shareholder communications and has factories and warehouses in Edgewood and Brentwood, had earlier this year received relocation plans from the governors of Florida and Virginia. But company representatives have said they preferred to stay in New York.

"Broadridge is pleased to continue making Long Island our home," said Robert Kalenka, Broadridge's chief operating officer of investor communication solutions, in an email statement. "The Islip IDA has been a tremendous partner throughout this process. We value their efforts to make doing business on Long Island economically competitive."

In addition to Islip's 15-year tax-break extension on a company building at 300 Executive Dr. in Brentwood, officials from Suffolk, New York State and the Long Island Power Authority quickly worked to offer inducements to keep the company local.

"We were able to keep a good company right where it belongs," said Islip Supervisor Tom Croci, who chairs the IDA.

In other action, the IDA also approved the extension of seven subleases at Sunrise Business Center in East Islip. Town officials said the extension ensures the retention of about 1,100 jobs there.

AG Metropolitan, which owns the business center and had received IDA inducements to renovate the property in 2007, notified the town earlier this year of an impending sale.