Photonics, An Islip-Long Island-based Laser Manufacturer Expands Operations, Creating 100 Jobs
Photonics told town officials the firm intends to expand operations from its current nearby facility, where it only has 16,000 square feet, to a much larger complex at 1860 Smithtown Avenue. The new location it will permit the firm to increase its research and development and mass production capability, as well as lower costs.
The Islip Development Authority said within two years the firm anticipates adding 85 full-time and 15 part-time employees, doubling its current annual payroll to $5.8 million. The company, which now employs 61 people, also indicated its sales could rise over the two years from $11.4 million to $30 million.
While details about the relocation and its economic benefits were not immediately available, Islip Town Supervisor Tom Croci said that the Islip Industrial Development Agency has approved an incentive package that includes a property tax-abatement and sales tax and mortgage-recording tax exemptions.
"These are high-tech jobs, exactly what the Town Board asked for," Town Manager Croci said.
A spokeswoman for the Town of Islip said attracting meaningful jobs and high-tech firms is one way the town strives to increase its tax base. She noted, while it is not the case with this location, Islip is one of the few cities in the area with vacant space that qualifies for the town's Free Trade Zone status, which along with economic development incentives is attractive in sparking redevelopment of space for manufacturing and industry.
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