News & Events

BROOKHAVEN IDA CLOSES ON ECONOMIC INCENTIVES PACT TO ASSIST H.O. PENN MACHINERY MOVE TO MEDFORD

04/23/19

FARMINGVILLE, NY (April 23, 2019) — Frederick C. Braun III, chairman of the Town of Brookhaven Industrial Development Agency (IDA), announced that the agency has closed on a package of economic development incentives that will assist H.O. Penn Machinery Co., a distributor of Caterpillar brand power generators, to remain in the town. H.O. Penn was one of the IDA’s first clients approximately 30 years ago.

The incentives agreement, which closed on April 16, was approved by the IDA at its January 9 meeting. The incentives will assist Poughkeepsie-based H.O. Penn in their purchase of a 20,000-square-foot building at 20 Platinum Ct., Medford.

Penn, which distributes generators and related equipment to a broad spectrum of owners and renters throughout the Northeast and to such hurricane-damaged areas as Puerto Rico, currently leases a 38,000-square-foot building at 15 Middle Ave. in Holtville. The move to Medford will allow H.O. Penn to remain close to its other Brookhaven operation (at 660 Union Ave. in Holtsville), utilize outside storage, construct separate offices and modernize its operations. The $3.67 million project would allow the company to retain their current 26 employees.

“I’m pleased the IDA has worked to keep a good, long-time corporate citizen and 26 jobs in the town,” said Braun.

About the Town of Brookhaven Industrial Development Agency
Since 1971, the mission of the Town of Brookhaven Industrial Development Agency is to improve the quality of life for Brookhaven residents by promoting and assisting the growth of businesses who support the Town through capital investment and the creation and retention of jobs. The IDA has issued millions of dollars in tax-exempt or taxable bonds and provided assistance through straight lease deals to encourage companies to either locate or expand in the Town of Brookhaven. This assistance has been extended to companies both large and small, and has resulted in the direct creation of thousands of jobs for Brookhaven residents. The IDA has provided assistance to a wide range of companies, including Tate's Bake Shop, Amneal Pharmaceuticals, Precision International, LI Precast, Uncle Wally's, and Framerica. For more information, visit BrookhavenIDA.org or call 631-451-6563.

< Back To All Posts

Project Documents

Contact Us

  • One Independence Hill
    Farmingville, New York 11738

  • Tel: 631-451-6563
    Fax: 631-451-6925

  • Brookhaven IDA

  • www.brookhavenida.org