By GREGORY ZELLER //
A Whitestone-based physical therapy network has received a shot in the arm from the Suffolk County Industrial Development Agency.
The IDA on Thursday offered preliminary approval for an economic-development incentives package that will allow PPT Management LLC, a multistate provider of physical rehabilitation and hand-therapy services, to close its administrative offices in Queens and Nassau County and establish a new corporate headquarters in Melville.
PPT Management, which was founded in 1998 and currently boasts corporate offices in both Uniondale and the Whitestone section of Queens, will relocate 131 current employees to the new space and create 60 new full-time jobs there with an average annual salary greater than $60,000, according to the IDA.
When renovation work is complete, the new Melville office will be between 33,000 and 42,000 square feet – plenty of elbow room for nearly 200 workers who could have wound up anywhere within the company’s multistate operating zone, noted Suffolk IDA Executive Director Tony Catapano.
“This is a company with expansive operations in five states that could relocate to any one of them,” Catapano said Thursday. “But the preliminary approval of this transaction will result in a sizable investment that will create jobs and bolster Suffolk County’s economy for years to come.
“The IDA’s incentive package will allow the smoothest transition possible to a new office and help the business expand and centralize its operations,” Catapano added.
All told, PPT Management has a hand in 147 outpatient facilities – mostly privately branded practices operating under the PPT umbrella – employing roughly 1,700 people across Greater New York and New England.
The nearly 20-year-old healthcare-management provider has basically outgrown its office space in both Whitestone and Uniondale, and with designs on both streamlining its corporate functions and keeping those 131 current employees in the fold, the firm turned its eyes to Melville and applied to the Suffolk IDA for assistance.
In return for the IDA’s standard incentives package – including a combination of mortgage-recording, sales and property tax abatements – the company has promised to both add those 191 jobs to Suffolk’s rolls and invest some $3.7 million in the Melville renovation project.
“By providing these short-term incentives, Suffolk County’s economy will see continued long-term growth from the company’s commitments,” Suffolk IDA Deputy Executive Director Kelly Morris said in a statement.