It is always nice to know you’re wanted, and the Nassau County Industrial Development Agency (IDA) has made one local company—Men on the Move—certainly feel wanted by giving them a nice tax break.
Men on the Move, a moving and self storage company currently based in Floral Park on Long Island, is moving headquarters because the building they currently occupy is being sold. They’ve been weighing the benefits of either staying local or moving into Queens.
Their decision was made a little easier when they were told by the IDA that they would be given a tax break on the construction of their new home office—a project with an estimated budget of $18.6 million.
“They want to stay in Nassau County because most of their employees are here,” said John C. Farrell, the attorney for Men on the Move, via Newsday. “But a move to Queens [was] a possibility without assistance from the county.”
The break will include a sales tax exemption of $350,200 on construction materials, equipment, and fixtures. They will also receive a break of $132,100 from the mortgage recording tax. The property tax rate will be frozen for one year and then increase by 1.66 percent in each of the next 14 years.
By accepting this deal, Men on the Move has promised to preserve 72 jobs and create 11 more by the year 2021. Of these positions, 15 will be independent contractors working as sales people.
Joseph Kearney, the executive director of the IDA, referenced the number of employees in defense of the decision to approve the tax break. His agency has received flak in the past for approving tax breaks for self storage companies since they often employ so few people.
“This isn’t two employees. And the company purchases 87 percent of its goods and services in Nassau County. We are happy to have them,” he said.
This isn’t the first-time Men on the Move has been on the receiving end of a tax break from the county. Their Garden City and Glen Cove locations have also received breaks from the IDA.