Nov 08, 2021

Planned development for small firms wins tax breaks from Suffolk IDA

A proposed office complex in Nesconset for small businesses has won $1 million in tax breaks from Suffolk County over 15 years, officials said.

The $8.7 million project consists of three buildings at 104 Lake Ave. S. The 59,000 square feet is to be divided into rental units of between 1,961 square feet and 2,738.

Each unit will have a storefront office and garage door opening onto production and warehouse space.

The complex will accommodate 27 small industrial and service companies that together would employ 135 people, according to developer O’Shea Properties.

The IDA tax breaks “enable us to pass along the [property-tax] savings to offer more competitive lease rates,” said Kate O. Rivas, director of leasing and development at family-owned O’Shea in Ronkonkoma. “This is particularly important for startup companies and smaller businesses as they look to clear the financial hurdles of opening or expanding their business.”

Read more at Newsday…