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Electronics Production |
Tax breaks awarded to Long Island’s Frequency Electronics
Defense contractor Frequency Electronics Inc. has been awarded more than USD 1.15 million in long-term tax breaks by New York State and Nassau County, in preparation for a planned USD 3.5 million expansion of the company’s Uniondale facility, according to the Long Island daily, Newsday.
The State’s share of USD 1 million in tax credits will be spread over 10 years and are linked to the creation of 116 jobs during the next five years, according to Jack Sterne, a spokesman for Empire State Development, the state's primary business-aid agency. Frequency Electronic’s local workforce totaled 140 jobs last year.
The state aid announcement is on the heels of last month’s disclosure by Nassau County to grant the company a sales-tax exemption of up to USD 152,000 on the purchase of construction materials and equipment for the building upgrade.
FEI is a manufacturer of precision time and frequency (PT&F) products for ground, seaborne, airborne, and space/satellite terminals and platforms used by commercial and government/military systems suppliers.
