May 31, 2013

Press Release: BELLONE: MANUFACTURING EXPANSION WILL INJECT $9,525,000 INTO SUFFOLK ECONOMY

Autronic Plastics, Inc. moving manufacturing plant to Central Islip

(Hauppauge, NY – May 31, 2013) – Suffolk County Executive Steven Bellone announced today that the Suffolk County Industrial Development Agency (IDA) has approved a cost- saving incentive package for an expanding plastics engineering and manufacturing company to move their operation into a vacant 100,000 square foot building in Central Islip, NY. The company, Autronic Plastics, Inc., will be consolidating their North Carolina and Westbury, NY operations in Suffolk County adding more than 85 new jobs and bringing more than $9 million in new capital investment to the area.

“Autronic Plastics, Inc. has made it clear that they want to continue to operate here on Long Island,” said Suffolk County Executive Steven Bellone. “I thank the company for recognizing that our region has the manufacturing and engineering workforce needed to support their long term growth.”

Autronic Plastics, Inc. provides injection molding precision industrial operations for approximately 150 accounts spread across the globe. The new project will bring 85 new jobs to Suffolk County, 9 of which are being relocated from North Carolina, with an average salary of $47,058. The total number of employees is expected to rise by 12% to 95 in the following year of operation.

“We are excited to consolidate our operations to Suffolk County and welcome the assistance and incentives that make a difficult transition more economical, keeping us competitive in the global market,” says Autronic Plastics, Inc. CEO Michael Lax.

“This project took an underutilized building and revitalized it with a successful manufacturing operation,” added Anthony Manetta, CEO/Executive Director of the Suffolk County IDA. “The IDA continues its proactive approach to develop solutions to retain and grow our workforce.”

The Autronic Plastics, Inc. move to Central Islip will inject approximately $9,525,000 into the local economy. The company will be spending $5.0 million on the existing facility, investing $1.3 million in renovations, and spending an additional $2.35 million installing manufacturing equipment. The IDA will provide the project with sales tax exemption worth $86,251 and projected property tax savings of $1,041,083 over 12 years.

About the Suffolk County IDA:

The Suffolk County Industrial Development Agency (IDA) is a public benefit corporation of the State of New York. The purpose of the agency is to promote economic development within Suffolk County. The operations of the agency are not supported by taxpayer funds, rather fees generated by the applicants. The Suffolk County IDA works in synergy with Suffolk County Executive Steven Bellone and Economic Development Commissioner Joanne Minieri to foster positive economic development within the County.