Suffolk County Executive Steve Levy says in a statement that thegroundbreaking marks "a milestone" for economic development in thecounty. "It was a long time coming, but the job retention, jobcreation and multiplier effect Canon will have on the economy willbe well worth all of the efforts."

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The Long Island Association has estimated that Canon's presencecould increase Long Island's gross regional domestic product by$1.3 billion and create up to 10,000 associated jobs locally. Thecompany currently operates out of leased space in the Nassau Countycommunity of Lake Success, NY, where it employs approximately 1,200people. The new facility will eventually create 750 new jobs over anumber of years once Canon moves to Melville.

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GlobeSt.com reported in March that the Huntington Town PlanningBoard approvedplans for the project after a two-year review process. Itwill encompass a five-story, 668,296-square-foot office buildingand two multilevel parking garages totaling about 500,000 squarefeet, and is aiming for LEED Silver certification. The 52.17-acreparcel is located at the southwest corner of the Long IslandExpressway South Service Road and Walt Whitman Road in Melville, anunincorporated hamlet within the Town of Huntington that is one ofthe focal points for commercial office space within SuffolkCounty.

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Canon USA began in 1955 with five employees at a facility inWoodside, Queens. It moved to Lake Success in 1971.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.