A wire form manufacturer is planning to expand in Suffolk County.
Cove Long Island Inc. aims to invest $3.4 million to purchase, renovate and equip a 28,373-square-foot facility at 165 Oval Drive in Islandia.
The company – which is relocating from Farmingdale, where its lease is ending – designs, creates prototypes and fabricates products. These products include metal handles, hooks, pins, sod staples, plates, springs, masonry anchors and custom wire forms.
The firm’s client base is located throughout the United States and also in Canada and the Caribbean. The company serves industries that include plastic and metal packaging as well as food processing, garment, construction and agriculture.
The manufacturer focuses on producing both low and high product output, fulfilling a wide range of orders, depending on client need. At the same time, it aims to sustain high inventory levels.
With the lease ending, the company sought a larger facility, which it needed as it pursued growth, officials said.
Now, Socrates Stavropoulos, the president of Cove Long Island, said in a statement that his organization is “excited to relocate to a permanent home for our operation.”
The company – which officials describe as one of among 2,000 manufacturers in Suffolk – is working with the county’s Industrial Development Agency for assistance with the building acquisition and expansion project. Last week the IDA preliminary approved $287,400 in tax breaks for the firm.
“Ensuring our local companies stay on Long Island and helping them to expand is a significant part of what IDAs do,” Tony Catapano, executive director of Suffolk County IDA, said in a statement about the incentive package.
And with that incentive package and larger space, the firm will be able “to add more equipment and inventory and hire more people,” Stavropoulos said.
The company had considered relocating to Newark, New Jersey, as another suitable location, which was attractive because of its “lower costs and tax incentives,” records show. In seeking to relocate, the company found that the inventory of buildings on Long Island “limited and expensive,” according to those records.
Stavropoulos said that the “financial assistance of the Suffolk IDA is necessary so that we can continue to provide job security to our employees, support the Long Island economy by doing business with our local vendors, and allow us to grow.”
Catapano said that the IDA was “pleased to assist this small manufacturer’s efforts to expand its operations and employ more of our residents.”
Cove Long Island works with at least 24 vendors that are located on Long Island, records show.
“Companies like Cove Long Island create outsized economic growth, as manufacturers utilize scores of local companies to support their operations,” Kelly Murphy, deputy executive director of the Suffolk IDA, said in a statement.
“Although this is a relatively small company, keeping their future growth in Suffolk County is a big win,” she added.