Nassau County executive Mangano and NIDA approve economic development compact

Nassau County executive Edward Mangano and the Nassau Industrial Development Agency (NIDA) has approved an economic development compact that will bring Supreme Screw Products Inc., a manufacturer of precision components, to the town. The company had considered moving to sites in New Jersey and Connecticut before deciding to move to the area. Mangano said, "This announcement highlights the success of creating new jobs and opportunities for our residents, attracting new businesses from outside Nassau, putting our residents back to work and revitalizing local communities. From creating new jobs to generating millions in economic benefits for our community this economic development compact with Supreme Screw Products is a win-win for Nassau residents. Supreme Screw, which produces precision component parts for the automotive, aerospace, medical, defense, commercial, electronics and other industries, is purchasing and renovating two buildings at 59-65 E. 2nd St., for $4.1 million and plans to bring 36 jobs to the site from the Bronx location that it has outgrown. The company also will create another 29 positions at what will be a high-tech manufacturing facility. The project's economic impact to Nassau County is estimated at $74 million. "This economic development compact proves that Nassau County can be competitive with other regions of the country and is able to entice businesses to our county," said Joseph Kearney, executive director of the Nassau IDA. "This is an absolute home run for the county."