Broadridge Secures $90M IDA Boost to Upgrade Long Island Facilities
Broadridge Secures $90M IDA Boost to Upgrade Long Island Facilities
Suffolk County incentives help keep over 1,500 high-paying jobs local
Broadridge Financial Solutions, one of Suffolk County’s anchor employers, has secured preliminary approval from the Suffolk County Industrial Development Agency (IDA) for a major investment in its Edgewood operations. The $90.88 million project will renovate and upgrade two facilities inside the Heartland Business Center—ensuring more than 1,500 Long Island jobs stay right here at home.
A Decade of Upgrades in Edgewood
The plan covers Broadridge’s sites at 51 Mercedes Way and 1155 Long Island Avenue, which together total more than 722,000 square feet on nearly 39 acres. Renovations and new equipment will roll out over the next 10 years, with the first phase expected to begin in early 2027.
While the company’s leases at both properties were set to expire in 2028 and 2029, Broadridge confirmed it will renew them—signaling a long-term commitment to Suffolk County.
Retaining Jobs—and High Salaries
The Suffolk IDA assistance was key in keeping Broadridge from exploring other markets like Florida, Texas, and Tennessee, which offered lower costs. The deal means 1,531 local employees—earning an average salary north of $111,000—will remain in Suffolk. That’s not just payroll; it’s an economic engine for restaurants, shops, and housing across Long Island.
“Broadridge is a cornerstone of Suffolk County’s innovation economy,” said Kelly Murphy, executive director and CEO of the Suffolk IDA. “This action helps ensure Long Island remains a place where global technology leaders can grow and thrive.”
A History of Long Island Investment
Broadridge has called Heartland Business Center home since 1992, starting with just 60,000 square feet. Over the years, the company has steadily expanded its footprint while receiving state and local support to keep its operations here. Since 2007, Broadridge has been awarded around $20 million in state grants and tax credits, plus earlier IDA-backed tax breaks for equipment and property investments.
Today, the firm operates multiple sites across Edgewood as well as an office in Lake Success.
Why This Matters for Suffolk County
Broadridge isn’t just a financial technology provider with $6.5 billion in revenue—it’s a stabilizing force in Suffolk County’s economy. From investor communications to wealth management tech, the company’s services touch millions of investors and institutions worldwide. Keeping such a heavyweight employer rooted on Long Island bolsters the region’s standing in the financial services and technology sectors.
Doug DeSchutter, president of Investor Communication Solutions at Broadridge, put it plainly:
“This assistance is critical to our ability to remain on Long Island, ensuring that we can attract and retain the most talented associates in our industry. Thanks to the Suffolk County IDA, we can continue to invest, innovate, and provide high-quality jobs here in Suffolk County.”
FAQ: Broadridge’s $90M Long Island Upgrade
What is Broadridge investing in?
The company will spend $90.88 million on renovations and equipment upgrades at its Edgewood facilities over the next decade.
How many jobs will this impact?
The Suffolk IDA support helps retain 1,531 local jobs, with employees earning an average annual salary of $111,000.
Why did Broadridge need IDA assistance?
Without local incentives, the company considered relocating to lower-cost states like Florida or Texas. The IDA package keeps those jobs and tax revenues in Suffolk County.
Where are the renovations happening?
Work will focus on Broadridge’s two main facilities at 51 Mercedes Way and 1155 Long Island Avenue in Edgewood.
What does this mean for Long Island’s economy?
The deal secures a major employer’s presence, strengthens Long Island’s reputation in financial services and technology, and supports thousands of local households through stable, high-paying jobs.