Don’t tell Anne Shybunko-Moore, president and owner of GSE Dynamics, Inc., that the defense industry is dead on Long Island. She opened a brand new composites facility and is ramping up production as fast as she can to meet the needs of the Air Force and Navy.
GSE Dynamics is a Long Island success story. Anne’s father, Daniel Shybunko, started GSE as a military parts company back in 1971. He won Contract #1 when Anne was just ten days old. When she joined her dad in 2001, sales were $4-5 million. Today, sales are estimated at over $15 million and growing.
The secret to GSE’s success has been adapting to a changing defense market. The company added fiberglass composite and metal to metal bonding capabilities with the purchase of a manufacturing plant in Georgia. As the company’s backlog and sales projections grew, GSE had a decision to make: expand its manufacturing down south or consolidate the entire company right here on Long Island.
How Suffolk IDA Helped GSE
- Property Tax Abatements
- Mortgage Tax Exemptions
- Sales Tax Exemptions
- Approval in 30 Days
- Assistance with other agencies
That’s where the Suffolk County IDA stepped in to help. We sat with Anne, listened to her concerns and got all the players in a single room to find incentives that would allow GSE to keep growing and adding jobs on Long Island.
Anne also realized Long Island had intangibles she couldn’t find anywhere else. We have one of the best-educated workforces. We have a network of top colleges and universities, one of which, Suffolk Community College, had already partnered with GSE on the creation of a workforce training program. Long Island has a strong supply chain. Finally, there was Long Island’s amazing quality of life.
To seal the deal, the Suffolk IDA put together an aggressive bundle of property tax abatements, mortgage tax and sales tax exemptions that are saving GSE nearly one million dollars. AS important, the package was approved in less than 30 days.
Today GSE Dynamics is a proud example of Long Island’s defense past, re-invented for future success. The company has added new employees and is busy filling work orders for the military and major aerospace firms.
Suffolk IDA helped GSE expand on Long Island, and we can help your business too. Whether you’re based in Suffolk or thinking about moving your operations here, make us your first call. We’ll bring all the key players together, discuss financial incentives, help you with workforce training and recruitment and be a partner to you, every step of the way.