Dealertrack Technologies, a web-based solutions and services firm focusing on automotive retailing, will expand its operations center and establish new corporate headquarters on Long Island, New York. The project is expected to create more than 350 jobs in Nassau County.
“Since day one, my administration’s top priority has been creating jobs and economic opportunities for New Yorkers, and Dealertrack Technologies is bringing both to Long Island in a big way,” Governor Andrew Cuomo said. “The company’s major commitment to doing business in New York is proof positive of the progress we have made in creating an environment that attracts investment and enables businesses to grow and succeed.”
Mark O’Neil, Dealertrack Chairman/CEO said, “We have been working closely with the Governor’s office, Nassau County and iOptimize Realty to help ensure that Dealertrack has a permanent home for its North American corporate headquarters on Long Island. We appreciate the efforts of the Governor’s office, New York State and Nassau County to enable us to build our business here, provide more jobs on Long Island and to economically stimulate the local area.”
According to the Governor’s Office, Empire State Development, the state’s economic development agency, developed an attractive incentive package to facilitate the company’s decision to remain and expand in New York State and establish its headquarters in North Hills, Long Island, which is only one mile from Dealertrack’s current facility.
In order to keep Dealertrack and its expansion on Long Island, the State committed a total of up to $12 million in performance-based incentives from ESD – $10.5 million in tax credits through the Excelsior Jobs Program and a $1.5M capital grant. Both incentives are tied directly to job creation and investment commitments, including more than 350 new jobs, the retention of over 500 current jobs and additional capital investment. In addition, Nassau County IDA is expected to provide property tax and sales tax abatements, as well.
Long Island Regional Economic Development Council Co-chairs Kevin Law, President/CEO of the Long Island Association and Stuart Rabinowitz, President of Hofstra University said, “The Long Island Regional Council is dedicated to strengthening Long Island and making it a better place to live, work, and do business. Governor Cuomo’s continued support of companies like DealerTrack will help us to achieve our goal of growing the regional economy and supporting economic development in Nassau County.”