Sterling North America Surprises: 10X More Jobs Than Tax Aid Promised!
In a stunning turn of events, a commercial printing powerhouse on Wall Street has not only met but obliterated its job creation promises, expanding its workforce more than tenfold since 2021. This ambitious growth follows a strategic decision to consolidate its operations into a single, state-of-the-art facility in Hauppauge, all made possible through smart tax incentives.
Sterling North America Inc. has seen its employee count soar from just 127 to an impressive 253 over the past three years. This remarkable achievement has led Suffolk County to greenlight preliminary tax incentives for the company’s plans to establish a fifth production plant at 101 Corporate Dr., also in Hauppauge.
“You came to us promising merely 12 jobs back in 2021, and here you are, delivering over 100! That’s incredible,” praised Joshua Slaughter, a board member of the county’s Industrial Development Agency (IDA), during a recent meeting with Sterling executives. “This is a prime example of success.”
WHAT WE DISCOVERED
- Sterling North America, a key player in commercial printing, is poised to add another plant due to the booming demand for printed financial documents from banks, public companies, and insurers.
- Since its initial promise, Sterling has exceeded its job creation goals by more than tenfold, a testament to its rapid growth and success.
- The company is now seeking further tax incentives from the Suffolk County IDA for a new facility that is set to create at least eight additional jobs.
The proposed tax benefits include a whopping $292,000 in property tax savings over the next 12 years, alongside a sales tax exemption of up to $307,050 for construction materials and equipment, according to IDA records.
As the IDA board prepares to finalize this generous tax-aid package at its upcoming Thursday meeting, Sterling’s owner and CEO, Ed McAllister, emphasizes the company’s vital role in printing essential documents for a range of businesses, including major players like Broadridge Financial Solutions Inc. This firm, headquartered in Lake Success, is instrumental in distributing crucial documents to investors and managing shareholder votes.
“People often claim printing is fading away,” McAllister stated confidently in a recent interview. “But from my perspective, it’s anything but dead.”
Sterling’s printing presses run tirelessly around the clock, yet the escalating demand for printed materials necessitates the addition of another facility with more presses. McAllister has even contemplated relocating to a more tax-friendly state due to Suffolk’s high property taxes, highlighting how critical the IDA’s support has been to his ability to stay and grow in the area.
“While I’ve thought about moving, my heart is in Northport, and I’d much rather thrive right here,” he expressed.
When asked about the source of this extraordinary hiring spree, McAllister revealed that he had acquired the assets of three other printing companies, seamlessly integrating their employees and clientele into Sterling.
In exchange for the tax incentives, McAllister has pledged to add at least eight new jobs by the end of 2026, with expectations for that number to be significantly higher. All new hires will earn an average hourly wage of $56,250, as detailed in the IDA assistance application.
Kelly Murphy, executive director of the IDA, acknowledged that while the tax reductions will apply to only two of Sterling’s five facilities, McAllister has committed to maintaining his entire workforce in gratitude for the IDA’s assistance.
“Sterling North America epitomizes the type of company that the IDA aims to support,” Murphy declared in a recent interview. “They started here in Suffolk County and are dedicated to continuing their growth in the same community.”
