CONTACT US

Voxx International Announces a Move to Florida

Another Long Island company is leaving for (what it believes are) greener pastures.  Voxx International, which began operations as Audiovox in 1960, is moving its corporate headquarters from the Island to Florida. 

According to a joint statement from Chief Executive Pat Lavelle and Florida Governor Rick Scott, "Florida will provide an excellent location and a pro-business climate for us to consolidate production and manufacturing operations from other locations."  The Company has approximately 2,100 employees--approximately 400 of whom are on Long Island.  No word as to how many of Voxx’s employees, if any, will remain on Long Island. 

In conjunction with this move, Voxx intends to add 134 jobs, in addition to the 173 currently in Florida, and is constructing a 125,000 square foot facility in the new Lake Nona Airport Business Park in Orlando at an estimated cost of approximately $17 million.  Voxx also said that Orlando was attractive due to its “local-based talent, proximity to major transportation hubs and business friendly climate.”  Earlier this year, Voxx received $1.25 in tax incentives from the Orange County Commission, which required the company to create 74 jobs in 2015 and another 60 in 2016 and 2017.

This continues a trend that started a few years ago.  Sbarro announced in 2014 that is was leaving Long Island for Ohio and Arrow Electronics and Adecco, other significant Long island based companies, recently left for Colorado and Florida, respectively. All received significant tax incentives for their move.

Long Island is left, once again, wondering what it could have done to create new jobs, save old jobs, and maintain its revenue base.  We need our elected officials to take immediate action to prevent other companies from leaving, and make sure all understand the advantages of being on Long Island.

Eric Altstadter CPA is an Audit Partner with over 30 years of experience working with public companies and privately held businesses. He is the Editor-in-Charge of the firm's SEC Trends & Developments newsletter and a member of NY State Society of CPAs.

Contact Eric

* Required