Suffolk approves Canon incentive deal
Wed, Dec 16, 2009
Featured posts, Real Estate
The Suffolk County Legislature has just approved a deal with the Town of Riverhead that provides the Canon Corporation with more incentives for the new 860,000-square-foot headquarters that the imaging giant plans to build in Melville.
The agreement negotiated between the county and the town changes the boundaries of the Empire Zone at the Enterprise Park at Calverton and allows for the creation of a 20-acre floating benefit zone at the Canon property in Melville.
Suffolk Executive Steve Levy said in a statement that the extra incentives, which come in the way of tax credits, were necessary for Canon to go ahead with the Melville project. Canon is expected to employ 2,000 people at the new headquarters, within five years of its relocation from its current offices in Lake Success.
Original Post