Long Island Association's Chief Economist Endorses Canon Deal

Summary

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Canon USA's proposed relocation to Melville would be a multi- billion dollar boon for Suffolk County and deserves tax breaks, according to a report by Pearl Kamer, the Long Island's Association's chief economist.

The imaging giant will likely move its headquarters from Lake Success and build an 864,000-square-foot building just off the Long Island Expressway. To keep the company from leaving the state, Suffolk's Industrial Development Agency offered $19 million in property tax breaks between 2009 - when the headquarters is slated to open - and 2019. After that it will pay about $4 million in taxes annually. Suffolk also offered up to $16 million in sales tax exemptions for about three years.

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Long Island Association's Chief Economist Endorses Canon Deal

Canon, which has 1,260 employees at i...

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