Read the Long Island Business article: http://libn.com/2014/04/11/dealertrack-to-add-350-jobs-in-north-hills-expansion/#ixzz2yc5o31LL
Lake Success-based Dealertrack Technologies will soon expand to a yet-to-be-built 233,000-square-foot headquarters on 9 acres in North Hills, and promises to add more than 350 new jobs to the 500 or so employees it already has here.
Terms of the deal weren’t disclosed.
The company, which provides data access and inventory management software for automotive dealers, had kicked the tires of sites in five states, as well as a few other locations nearby, including the space that Canon USA vacated in the spring of 2013, but ultimately decided to have a building designed for them built from scratch, according to industry sources.
The building planned for 3400 New Hyde Park Road is about one mile from Dealertrack’s current Lake Success headquarters and should be ready in early 2016, according to a company statement. The site is vacant land owned by Castagna Realty, which also owns the Americana shopping center in Manhasset. The new building was designed by The Spector Group in Woodbury, and will be built by a partnership between Castagna and East Setauket-based Tritec Development.
In order to keep Dealertrack and its expansion on Long Island, Empire State Development has committed a total of up to $12 million in performance-based incentives – $10.5 million in tax credits through the Excelsior Jobs Program and a $1.5-million capital grant – both of which are tied directly to job creation and investment commitments, including more than 350 net new jobs, the retention of more than 500 current jobs and additional capital investment, according to an ESD statement. The Nassau County Industrial Development Agency is expected to provide property tax and sales tax abatements as well.
“We’re talking to them,” said Joseph Kearney, who heads the Nassau IDA.
Don Catalano, of iOptimize Realty®, represented Dealertrack in the transaction. Ray Ruiz of Jones Lang LaSalle represented Tritec and Castagna.
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