New York’s development professionals bring expertise, experience, best practices, and the resources of the state and their communities to every project they assist. These case studies are a sampling of those projects.
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Cox & Company
Cox & Company is a high-tech, high-skilled, employee-owned aerospace manufacturing company. They are an industry leader in the design, development, test and manufacture of high quality custom systems for the aerospace, industrial and transit industries. Its heating system was on the NASA Lunar Landing Module when man walked on the moon. The Company had been located on Varick Street in Manhattan and was forced to re-evaluate its location due to a near expiring lease. The company employs nearly 200 people.
Project Need (problem)
The Company was considering moving its manufacturing plant to another location in New York City, New Jersey or Pennsylvania in addition to Nassau County. The out-of-state locations would have been considerably less expensive than moving to Nassau County or NYC. In addition to the lower real estate taxes in Pennsylvania, the State was offering a $500,000 grant to relocate and extensive job tax credits and IDA assistance. In order to entice the Company to stay in New York, Nassau had to offer financial assistance to compete with the Pennsylvania option.
Project Solution
The Nassau County IDA was able to offer enough incentives to attract Cox and Company to Nassau County. The IDA offered a PILOT, mortgage recording and sales tax exemptions. The company invested $35 million in the new facility and created 130 jobs in Nassau County.
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New York State Economic Development Council
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New York State Economic Development Council
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