Canon struck an agreement to buy 52 acres in Melville, N.Y., to b...
Canon struck an agreement to buy 52 acres in Melville, N.Y., to build a new 864,000-sq.-ft. hq that will open by 2010, the company said Mon. Canon didn’t disclose how much it paid the Holiday Corp. and Tilles Cos.…
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for the land, but Newsday pegged it at $103 million. A Canon spokeswoman declined to comment. Canon received incentives from the Suffolk County, N.Y., industrial development agency, including $35 million in tax breaks. It also got a $3.5 million capital grant from the Empire State Development Corp. In return, Canon is required to hire an additional 750 employees over the next 5 years. Canon currently has about 1,100 employees on Long Island. Unclear is where the new employees will be assigned. A spokeswoman declined to comment. Canon plans to break ground in spring 2008 on the 6-story building that will replace the Lake Success, N.Y., facility it has leased since 1971.