(Hauppauge, NY- October 18,2012)- In a decision that will help a local manufacturer compete in the global market, the Suffolk County Industrial Development Agency (IDA) approved a cost-saving incentive package for a manufacturer located within the Hauppauge Industrial Park. A & Z Pharmaceutical, Inc., a pharmaceutical manufacturer plans a renovation of existing leased space to be used for manufacturing products for export in bulk to China and European markets. The company, which also plans to relocate its Information Technology infrastructure to the renovated facility, will invest approximately $3.3 million in the project. With IDA benefits helping to offset the cost of renovations and new equipment, the company expects to add 25 new jobs and grow its annual payroll by more than $1.6 million during the next two years.
Founded in 1995, A & Z Pharmaceuticals, Inc. has been a manufacturer and distributor of over-the-counter (OTC) private label pharmaceuticals since its inception. As it grew, the company expanded to the relatively untapped OTC market in China and quickly outgrew its current facilities. The company requested IDA assistance to upgrade its international operations facility to meet international pharmaceutical standards and position the company for growth in the coming years.
According to County Executive Bellone, “At a time when many American companies are still outsourcing and offshoring, A & Z Pharmaceutical is tapping the international market to create jobs here in Suffolk County. Providing incentives so A & Z can continue to grow and create jobs here is the smart thing to do.” Recently, Bellone and the IDA announced an IDA incentive package for another Hauppauge-based pharmaceutical, LNK International, Inc., which saved more than 1,500 local jobs.
“This is a ‘retain and grow’ package that helps a unique exporter stay in Suffolk and continue to create jobs while exploiting the international market,” said IDA Executive Director Anthony Manetta. According to Manetta, the IDA has backed the company’s expansion with $83,566 in property tax incentives, as well as an additional $159,476 in sales tax exemptions.
In addition to exporting in bulk to China and Europe, the company manufactures for the domestic market at their facility in Deer Park.
“This incentive package will greatly assist our expansion of operations. Having come from China and now living on Long Island for more than 16 years, I am honored to be able to continue building and expanding our company here in Suffolk County. A company’s greatest asset is its employees and this expansion will allow us to continue to attract and retain employees,” said A & Z Chairperson and Co-owner, Emma Li. Ms. Li added, “Suffolk County has tremendous potential for companies to expand and retain their workforce; most importantly, the ability to tap talent coming out of our great colleges. I want to thank the Suffolk IDA for timely and expeditious assistance in the midst of a cyclical economy, which has affected many businesses. Your support is greatly appreciated.”
“The Hauppauge Industrial Park is a major economic engine for the region and its growth depends on private/public cooperation,” said Terri Alessi-Miceli, HIA-LI president. “HIA-LI congratulates long-time member A & Z Pharmaceutical, Inc. as it expands its presence in the Park. We also applaud the important initiatives Suffolk County Executive Bellone and the Suffolk County IDA have taken to help keep jobs in the region.”