Governor Kathy Hochul is putting serious money on the table to keep a key fintech employer rooted on Long Island and in New York City. On Tuesday, she announced that Broadridge Financial Solutions will invest $78 million to modernize its operations and retain about 2,200 jobs in the region, backed by a package of state incentives, low-cost power and a new AI-focused partnership meant to upgrade both equipment and worker training. Officials are pitching the move as a way to lock in high-paying finance-and-tech roles locally instead of watching them drift to cheaper states.
State incentives and the deal's components
According to a press release from Empire State Development, New York will provide up to $40 million in support for the project. That includes a $23.5 million capital grant, a $15 million Innovation Partnership Grant and up to $1.5 million in performance-based Excelsior Jobs Program tax credits that are tied to long-term job retention commitments.
The state said Broadridge will use the public support to help finance $78 million in capital investments, including machinery and equipment upgrades. The company is also described as a current New York Power Authority customer receiving a 2,400-kilowatt low-cost power allocation, a detail that underscores how energy pricing is part of the broader economic package.
AI partnership and workforce training
Tim Gokey, Broadridge’s CEO, said he is "proud to call New York home" and framed the investment as a way to "leverage transformative technology" for both clients and employees, according to the same Empire State Development release.
The announcement also creates a $3 million AI-driven innovation partnership with Stony Brook University. The effort is intended to advance research and build training pathways for students and current workers, effectively turning the company’s technology push into a talent pipeline play as well.
Long Island footprint and local context
Broadridge’s Long Island presence spans multiple Edgewood sites, and local records show the company has already been looking at major upgrades. Last year, Broadridge sought Suffolk County IDA support for a roughly $90.9 million renovation across two Edgewood properties. Long Island Business News reported that the renovation plan was intended to retain more than 1,500 jobs in Suffolk County and that Broadridge had at one point weighed relocating to lower-cost states before county and state incentives convinced the firm to keep operations on Long Island.
Energy help through ReCharge NY
The energy component is a big part of the math. The New York Power Authority's ReCharge NY program offers lower-cost electricity through multi-year contracts. Roughly half of the program’s 910 megawatts come from the Niagara and St. Lawrence hydroelectric projects, according to NYPA. Officials say allocations like Broadridge’s reduce operating costs and can be the deciding factor when companies debate whether to keep jobs in-state.
Local economic-development leaders quickly lined up to applaud the deal. "Broadridge is a cornerstone of Suffolk County’s innovation economy," Kelly Murphy, executive director of the Suffolk IDA, told Long Island Business News, adding that the incentives are designed to secure long-term investment and employment on Long Island.
Looking ahead, state documents indicate the NYPA Board will review an application to extend support for Broadridge at an upcoming meeting, and the new Stony Brook partnership will serve as an early test of workforce-focused AI investments. Broadridge is headquartered in Lake Success, New York, according to SEC filings, and the company’s capital and workforce decisions in the coming years will determine whether the roughly 2,200 promised positions remain firmly anchored in the region.
