MELVILLE, NY-Canon USA held a ceremonial groundbreaking Monday at the site of its forthcoming 1.2-million-square-foot North American headquarters here. The imaging giant says the $636-million facility is expected to be operational by the summer of 2012.

Suffolk County Executive Steve Levy says in a statement that the groundbreaking marks “a milestone” for economic development in the county. “It was a long time coming, but the job retention, job creation and multiplier effect Canon will have on the economy will be well worth all of the efforts.”

The Long Island Association has estimated that Canon’s presence could increase Long Island’s gross regional domestic product by $1.3 billion and create up to 10,000 associated jobs locally. The company currently operates out of leased space in the Nassau County community of Lake Success, NY, where it employs approximately 1,200 people. The new facility will eventually create 750 new jobs over a number of years once Canon moves to Melville.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.