Bellone Announces Suffolk IDA to Provide Incentives for JVC Broadcasting's Revitalization of Vacant Patchogue Village Building
New Project Furthers the Transformation of Downtown Patchogue
(Patchogue, NY-August 22, 2013) - Suffolk County Executive Steve Bellone announced that the Suffolk Industrial Development Agency has approved an incentive package to assist JVC Broadcasting in the development of their new headquarters in downtown Patchogue Village, New York. The new headquarters will be located on Waverly Avenue in Patchogue and will revitalize a currently vacant building. The $1.2 million project will serve as the new home of JVC Broadcasting, which owns and operates several radio stations across Long Island and Florida and the Pennysaver Amphitheater in Farmingville, New York.
“JVC Broadcasting’s purchase of their new headquarters in downtown Patchogue Village is a great step for the Village and its future development,” said Suffolk County Executive Steven Bellone. “Having a thriving local business like JVC Broadcasting establish roots in Patchogue Village will drive business to the area and create new job opportunities for local residents.”
"This is a great project that will transform a community eyesore into a thriving corporate office," said Anthony Manetta, CEO and Executive Director of the Suffolk IDA. “The JVC Broadcasting headquarters will be a nice compliment to Patchogue's rapidly developing downtown.”
The 7,800 square foot site at 185 Waverly Avenue in Patchogue, NY has been vacant for over four years. As a part of the move JVC Broadcasting is overseeing a $310,000 renovation of the site which will modernize the building to better match the recent improvements and developments in Patchogue Village. The new headquarters will house offices and act as a studio and broadcast center for the company.
"The addition of JVC Entertainment to Patchogue Village supports our vibrant and growing entertainment scene. We thank JVC for investing in our Village and our local economy," remarked Village of Patchogue Mayor Paul Pontieri.
"JVC does an outstanding job managing the Town's Pennysaver Amphitheatre. We are glad that they chose Brookhaven as the home of their corporate headquarters," stated Brookhaven Supervisor Ed Romaine.
As a part of the move JVC Broadcasting will receive projected incentives of $228,000 in property tax, sales tax and mortgage recording tax savings. As a part of the move JVC Broadcasting has proposed the creation of 14 new jobs over the next two years with an increase in average employee salary. The Long Island based media group has seen its operations expand over the past several years. The company, founded in 2008, acquired Asterisk Communication’s five Florida FM radio stations in June 2013 adding to its roster of four Long Island FM stations. The company entered into a five year agreement with Long Island Events to manage, operate and produce events for the Brookhaven Amphitheater in 2012.
“We are thrilled at the possibility of moving our corporate headquarters to the Town of Brookhaven in the Village of Patchogue. Patchogue has become a vibrant, entertainment focal point for Suffolk County and it’s a great place to call home for JVC Broadcasting,” JVC Broadcasting President and CEO John Caracciolo.
“We are happy to see another Long Island based business choosing to keep their operations within the county,” said Joanne Minieri, Deputy County Executive and Commissioner of Economic Development and Planning. “JVC Broadcasting’s choice to expand their operations in the region is yet another testament to Suffolk County’s prosperous economic environment and bright future as a home for other thriving businesses.”
About the Suffolk County IDA:
The Suffolk County Industrial Development Agency (IDA) is a public benefit corporation of the State of New York. The purpose of the agency is to promote economic development within Suffolk County. The operations of the agency are not supported by taxpayer funds, but rather fees generated by the applicants. The Suffolk County IDA works in synergy with Suffolk County Executive Steven Bellone and the Deputy County Executive and Commissioner of Economic Development and Joanne Minieri to foster positive economic development within the County.
For more information regarding the Suffolk County IDA log on to www.suffolkida.org.
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