US: Hain Celestial to expand corporate HQ
Natural and organic food group Hain Celestial has announced plans to expand its corporate headquarters in New York state.
Hain Celestial has leased a new 86,000 square foot facility in Lake Success in the state's Nassau County.
The company said it will invest US$10m in relocating and expanding its head office. The move is supported by an incentive package from Empire State Development (ESD) of $4.5m in tax credits.
Pending final board approval, the Nassau County Industrial Development Agency will also provide Hain Celestial with a 16-year payment in lieu of taxes agreement and a sales and use tax exemption for up to $603,750 in purchases for furniture, fixture and equipment.
In return for the tax incentives, Hain Celestial should bring "at least" 315 net new jobs to Nassau County, the company said without providing a timescale. The group added it will relocate its existing 250 Long Island-based employees and create over 100 new jobs over the next ten years.
"I am pleased to be increasing our commitment to the region with the expansion of our international corporate headquarters complete with state-of-the art sustainable features," said Irwin Simon, founder, president and CEO of Hain Celestial.
"The design and layout of our new facility will provide us with a nurturing environment to foster the next level of growth for the company. Our new in-house research and development capability will create products that will be sold all over the world."
The CFO of Hain Celestial, Ira Lamel, has announced his retirement after 11 years with the company....
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