Healthy sign for Long Island as organic food leader grows
The Hain Celestial Group, Inc., a natural and organic products company will expand its international corporate headquarters on Long Island.
The company has leased new office space in Lake Success, New York in Nassau County where it plans to relocate its existing 250 Long Island-based employees and create over 100 new jobs over the next ten years.
Brian Waterman, Lance Korman and Scott Berfas of Newmark Grubb Knight Frank represented Hain Celestial in the transaction. David Leviton, now with CBRE, represented ownership, AREA Property Partners, working with Richard J. Mack in-house.
With tax incentives provided by the State of New York through Empire State Development and the Nassau County Industrial Development Agency, Hain Celestial has committed to investing $10 million as part of its office relocation and expansion of its operations.
“The expansion of Hain Celestial means an industry-leading business and almost 400 jobs will stay right where they belong on Long Island,” Governor Andrew M. Cuomo said. “This is another strong sign that New York is becoming a place where businesses want to grow and make long-term, job-creating investments.”
Irwin D. Simon, founded Hain Celestial nearly 20 years ago as a start-up company on Long Island with a handful of employees.
By 2001, the firm had 120 employees and over $400 million in sales.
Simon said, “The design and layout of our new facility will provide us with a nurturing environment to foster the next level of growth for the Company. Our new in-house research and development capability will create products that will be sold all over the world.
“I would personally like to thank Governor Cuomo and Nassau County Executive Mangano who, along with others, played an integral part in making sure that Hain Celestial would remain in New York.”
Nassau County executive Edward P. Mangano said, “It’s a great day when government can help save and create private sector jobs and assist in economic development projects that benefit the community. This agreement will ensure that Nassau County helps save and create hundreds of good-paying local jobs.”
Supported by an incentive package from Empire State Development (ESD) of $4.5 million in Excelsior Jobs Program tax credits, Hain Celestial will lease and make capital improvements to an 86,000 s/f facility as part of the relocation of its international corporate headquarters to Lake Success from Melville.
Pending final Board approval, the Nassau County Industrial Development Agency will provide Hain Celestial with a 16-year payment in lieu of taxes (PILOT) agreement and a sales and use tax exemption for up to $603,750 in purchases for furniture, fixture and equipment related to the renovation of their international headquarters.
In return for the tax incentives, Hain Celestial should bring at least 315 net new jobs to Nassau County.
Empire State Development president, CEO & Commissioner Kenneth Adams said, “Under Governor Cuomo’s leadership, we are beginning to see that New York’s improving business climate is rapidly attracting companies to grow and invest here.”
Hain Celestial employs approximately 4,000 employees worldwide with approximately 1,200 in the United States. Revenueis expected to reach $1.4 billion this year.
Hain Celestial is working with local firms to retrofit existing office space in the Town of Lake Success in Nassau County to serve as its international corporate headquarters.
The plans include building a research and development center to facilitate product innovation for many of its well-known brands.
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