Nassau County Executive Edward P. Mangano and the Nassau County Industrial Development Agency (IDA) today announced the approval of an economic development compact that will keep Publishers Clearing House, here in Nassau County where it will expand and grow its workforce.
Publishers Clearing House, a technology based direct marketing company, plans to relocate their headquarters to Jericho and will add another 66 well-paying jobs following its move. The company’s average compensation package is $90,000 per employee.
County Executive Mangano stated, “Publishers Clearing House employs hundreds of residents and this compact secures a private sector investment of $64 million to grow their workforce. With an average compensation package of $90,000 per employee, Publishers Clearing House is a growing employer in Nassau and this project will generate $136 million in economic benefit for the economy.”
The digital direct marketing company will rent a majority of office space at 300 Jericho Quadrangle in Jericho. The owner of the 305,000-square-foot building intends to undertake extensive renovations and estimated it could attract or retain another 800 jobs to the building. An additional 55 full-time-equivalent construction jobs will be created by the $64.8 million renovation project, expected to be begin in October and last six months. The project will generate economic benefits to the county totaling $136 million under terms of the compact.
Nassau County IDA Executive Director, Joseph J. Kearney said, “This project not only keeps an iconic company in Nassau County, but allows the building’s owner to attract world-class tenants to the building.”
About the Nassau County IDA:
The Nassau County Industrial Development Agency consists of a team of professionals whose mission is to promote the economic welfare and prosperity of Nassau County. It is a resource for businesses in Nassau County and those considering relocation. The IDA provides assistance to businesses interested in relocating, expanding and financing new investments. It has provided assistance to a wide range of companies including Arizona Iced Tea, Dealer Track Technologies and Sleepy’s Mattress as well as Cold Spring Harbor Labs and Grumman Studios. For more information, please visit http://www.nassauida.org or call 516-571-1945