Brookhaven IDA closes on economic assistance package in Yaphank

Yaphank, NY According to Frederick Braun III, chairman of the Town of  Brookhaven Industrial Development Agency (IDA), the agency has  closed on an economic assistance package that will allow two Ronkonkoma businesses to relocate to a 25,000 s/f building. The IDA’s incentive package to family-owned Four Keys Realty LLC will allow the company to build a 25,000 s/f building on vacant land on the northeast corner of Zorn Blvd and Horseblock Rd. that will house United Fence and Guard Rail Corp. and Master-Halco Inc., both now in Ronkonkoma.  The building will include 5,000 s/f of office space and 20,000 s/f of warehouse space for the companies. The $5.3 million project, which the company said could not be undertaken without the IDA’s assistance, is expected to result in the creation of 13 additional full-time jobs; total employment at both businesses totals 48. The project will also create 17 construction jobs.

United Fence and Guardrail is a supplier of guard rail materials, and its tenant, Master-Halco, is a national wholesale fencing company based in Orange, Calif. Both companies are relocating from 25 Mill Ave.as a result of the Ronkonkoma Hub project.  The company will receive a 10-year abatement of its property taxes, an abatement of  the mortgage recording tax on its new building and an abatement of sales taxes paid on  purchases of materials and equipment for the new facility. The IDA board approved the incentive package at its July 27, 2016 meeting and the transaction closed on Sept. 9.

“The Brookhaven IDA is pleased that we are able to help these businesses relocate within our town while bringing new investment and new jobs to the town,” said Braun. “Retaining businesses in the town is an important component of the IDA’s activities and I am pleased that they were able to provide assistance that will keep these two businesses in Brookhaven,” said Brookhaven town supervisor Edward Romaine.