Broadridge investing $78M, retaining 2,200 Suffolk jobs, launching Stony Brook AI partnership

Governor Kathy Hochul announced that Broadridge Financial Solutions will invest $78 million to modernize its Long Island operations and keep 2,200 jobs in Long Island and New York City under an Empire State Development agreement that includes up to $40 million in state incentives tied to long-term job retention and capital investment commitments. The release also establishes a $3 million AI Driven Innovation Partnership with Stony Brook University to advance research, innovation and workforce development.

Broadridge, a public company headquartered in Lake Success and described by Long Island Business News as one of Long Island’s largest employers, reported $6.89 billion in revenue for 2025 and provides infrastructure for trading, debt servicing, deal making, regulatory compliance and shareholder communications. Local coverage noted the announcement reverses earlier plans to downsize in the region.

Empire State Development and state officials framed the package as conditional: the state can provide up to $40 million in grants and tax credits, but the incentive terms are tied to capital investment and job-retention milestones. John G. Walser, director at the Suffolk County Industrial Development Agency, told Newsday that details of the aid package still need to be worked out and that any terms "would be consistent" with what the Suffolk County IDA already awarded to Broadridge’s other Edgewood sites.

Suffolk-specific incentives and prior commitments complicate the math behind the 2,200-job figure. In a September action referenced by Newsday, the Suffolk IDA agreed to $17 million in tax savings over 12 years in return for Broadridge pledges to spend tens of millions on improvements and retain 1,531 employees in two Edgewood buildings; state records show Suffolk locations receive 2,400 kilowatts of low-cost electricity from the New York Power Authority in return for retaining 1,713 jobs, and the authority’s board will consider an application to extend that allocation at a future meeting. The IDA application also lists average pay at those sites as $111,353 per year.

The Stony Brook University partnership is described in state materials as a "first-of-its-kind" Innovation Partnership, with $3 million dedicated to AI-driven workforce development and research, though officials have not released an operational timeline or program deliverables. Kevin Law, chairman of the Empire State Development Board, said, "Broadridge has deep roots on Long Island, and this project reinforces the region’s strength as a home for innovative companies and skilled workers."

Suffolk IDA chief executive Kelly Murphy emphasized local stakes: "This company could absolutely operate anywhere else in the country, but we want them to stay in Suffolk County because of the jobs, the spending and the overall positive impact on the economy." The state-level announcement originated Feb. 24, 2026; county and state agencies now face the next steps of finalizing incentive terms, reconciling site-by-site job counts and defining how the $78 million will be spent on specific facilities and technology upgrades.