New Hyde Park Home For Keystone Electronics

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Keystone BIt’s goodbye Astoria and hello to New Hyde Park for Keystone Electronics.
Up to 128 jobs are coming to the village after Nassau County officials announced that Keystone will be moving its operations to New Hyde Park, later this summer.
Keystone will open shop at two locations in New Hyde Park: A 48,759-square-foot building at 50 Denton Ave. and a 21,000-sq.-ft. building at 2040 Jericho Turnpike.
Keystone is a manufacturer of precision electronic interconnect components and hardware that are engineered for use by designers and engineers who create and develop state-of-the-art electronic products, instruments and systems. For the past 60 years, it has operated out of two locations in Astoria, first at 31-07 20th Rd. and later, at 19-23 Steinway St.
The move is a win not just for the village, but also for the county’s Industrial Development Agency (IDA), the organization whose job it is to create such opportunities for Nassau County. And since IDA is part of the county government, the move was applauded by the county executive.
“Nassau County is no longer fighting the exodus of jobs, but rather, we are effectively competing and attracting employers back to our communities,” said Edward P. Mangano. “My economic development team continues to attract employers to Nassau County where they enjoy success due to the skilled workforce, expanded housing opportunities, low crime rate and quality of life we offer.”
The compact was approved by the IDA board at its Tuesday, June 28 meeting.
County officials said that Keystone plans to spend more than $8.2 million to purchase one building, lease the other and renovate both properties. They claimed that it considered relocating to New Jersey or the Carolinas, but choose New Hyde Park instead. In addition to the 128 jobs that come with the relocation, the renovations, county officials added, are expected to generate 15 construction industry jobs. IDA officials also said that the net tax benefit to the county and other taxing jurisdictions of $1.4 million.

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Joe Scotchie is the editor of both The Roslyn News and New Hyde Park Illustrated News. In 2009, he won a New York State Press Association (NYPA) award for a sports feature. Joseph Scotchie’s past publications include biographies of Thomas Wolfe and Richard Weaver and a comprehensive history of the city of Asheville, North Carolina.

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