Press Release: Suffolk IDA Preliminarily Approves Transaction for New York Cancer & Blood Specialists
Suffolk IDA Preliminarily Approves Transaction for
New York Cancer & Blood Specialists
Leader in Healthcare Service Seeks New Space for Central Offices and Administration
Hauppauge, NY (October 27, 2021)— The Suffolk County Industrial Development Agency has preliminarily approved a transaction for Ascend Realty Partners, LLC and North Shore Hematology-Oncology Associates, Inc. for the purchase and renovation of a currently vacant 51,000 square foot building located at 1 Research Road in Ridge, NY. With the Suffolk IDA’s assistance, North Shore Hematology-Oncology Associates, P.C.—doing business as New York Cancer & Blood Specialists—will invest nearly $12.3 million to consolidate all of its administrative and other back-office functions under one roof while adding 50 new positions at an average salary of $85,000 within the first two years.
“In today’s day and age, administrative and other back-office roles can be completed from pretty much anywhere, but this action by the IDA ensures these operations and employment opportunities stay here in Suffolk County,” said Suffolk County IDA Executive Director Tony Catapano. “We are pleased to be able to invest in this project by New York Cancer & Blood Specialists that will allow them to improve their operations and create 50 good-paying jobs for Suffolk residents.”
Originally formed in 1977 by a trio of physicians, New York Cancer & Blood Specialists has grown into a multi-specialty practice employing 150 doctors and 54 physician’s assistants and nurse practitioners with dozens of offices across Long Island. Every member of its staff is dedicated to providing patients with the highest level of care possible, always putting health and wellness ahead of everything else. The company is dedicated to providing personal, effective healthcare, making sure that patients are comfortable while having every one of their needs met.
“For decades, we have worked day in and day out to provide Long Islanders with the best healthcare services available,” said Dr. Jeffery Vacirca, CEO of New York Cancer & Blood Specialists. “We have completed some significant expansions over the past two years, and this latest investment will ensure our executive, administrative and support teams are functioning at their highest levels. We are incredibly grateful to the Suffolk IDA’s support in creating new jobs and making our operations more efficient.”
In order to keep up with its expansion of service offerings, New York Cancer & Blood Specialists will purchase the 51,000 square-foot building and renovate approximately 35,000 square feet of the facility into dedicated office space for existing and 50 to-be-added employees. The space will be used strictly for the practice’s executive, administrative and support service employees, most of whom are currently spread out across four different locations in the Port Jefferson area. The company also plans to acquire new office equipment, computers, computer servers, furniture and fixtures. By having one centralized location, the company will be able to streamline its administrative processes, make it more efficient for them to serve their patients.
“Without the IDA’s assistance, New York Cancer & Blood Specialists was seriously considering moving this facility to Nashville, Tennessee, causing our region to risk the loss of more than 200 positions, 50 of which are new jobs,” said Kelly Murphy, Deputy Executive Director of the Suffolk County IDA. “With today’s action, the IDA has ensured we receive a long-term commitment from them to create jobs and continue providing these services locally that will support the company’s dozens of locations across the State.”
The Suffolk County Industrial Development Agency (IDA) is a public benefit corporation of the State of New York. The purpose of the agency is to promote economic development within Suffolk County. The operations of the agency are not supported by taxpayer funds, but rather fees generated by the applicants. The Suffolk County IDA works in synergy with Suffolk County Executive Steven Bellone and the Suffolk County Department of Economic Development and Planning to foster positive economic development within the County. For more information regarding the Suffolk County IDA log on to www.suffolkida.org.