Apr 05, 2021

Henry Schein gets nod from Suffolk on tax breaks for $15M HQ upgrade

Henry Schein Inc., Long Island’s largest public company by revenue, won first approval on Thursday for 15 years of tax breaks to support $15 million in improvements to its Melville headquarters.

The Suffolk County Industrial Development Agency granted preliminary approval for $3.1 million in tax aid, including $2.1 million off property taxes over 15 years, or a 13% savings.

The renovations to 135 Duryea Rd. and 80 Baylis Rd., which together serve as Henry Schein’s corporate office, are needed to attract and retain employees, said Jim Mullins, the company’s senior vice president of global services.

The 290,000-square-foot HQ is home to 1,223 employees who earn, on average, $131,400 per year, he said. The total workforce is more than 19,000 people around the world, according to a recent securities filing.

In return for the tax breaks, Henry Schein would retain the Melville HQ employees and make the building upgrades over five to seven years, Mullins said.

Read more at Newsday…