Broadridge Financial Solutions, a global financial technology company, will invest $78 million to upgrade its Long Island operations and retain 2,200 jobs in both Long Island and New York City. The investment is part of an agreement with Empire State Development that includes up to $40 million in state incentives linked to job retention and capital investment.
Governor Kathy Hochul said, “New York is fighting for good-paying jobs, and this agreement shows we’re delivering. When companies are making decisions about where to grow and invest, we’re making sure New York wins. Broadridge’s investment will keep 2,200 jobs on Long Island and in New York City, while modernizing critical operations and strengthening our economy. We competed for these jobs, we secured them and we’re anchoring them here for the long term. Each one of these jobs will support families, local businesses and communities — this is exactly how we grow our economy.”
The package of state support includes a $23.5 million capital grant, up to $1.5 million in performance-based Excelsior Jobs Program tax credits, and a $15 million Innovation Partnership Grant. These incentives are contingent on Broadridge meeting long-term commitments for job retention and capital investment.
Broadridge CEO Tim Gokey stated, “As a leading global financial technology company, Broadridge is proud to call New York home as we leverage transformative technology to help our clients and the financial services industry to better operate, innovate and grow. I want to thank Governor Hochul and the State of New York for their support in ensuring that our New York associates can continue to play a key role in driving innovation across financial services.”
A new Innovation Partnership between Broadridge and Stony Brook University aims to advance artificial intelligence research while creating educational opportunities for students and workers in emerging technologies. This initiative supports the state’s broader efforts to position itself as a leader in AI innovation.
Broadridge currently receives low-cost power from the New York Power Authority (NYPA) through the ReCharge NY program—a measure supporting more than 1,700 jobs with a 2,400-kilowatt allocation. The NYPA Board of Trustees will consider extending this support at an upcoming meeting.
ReCharge NY encourages businesses across the state to retain or create jobs by offering power contracts with terms up to seven years. Half of the program’s electricity comes from hydroelectric plants operated by NYPA; the other half is purchased on the wholesale market.
Empire State Development President Hope Knight commented: “Broadridge has long been an important employer in New York, and this project ensures those jobs remain part of our state’s economic future. By supporting modernization and long-term growth, we’re helping reinforce New York’s leadership in financial technology while delivering real opportunities for workers and communities.”
Empire State Development Board Chairman Kevin Law added,“Broadridge has deep roots on Long Island, and this project reinforces the region’s strength as a home for innovative companies and skilled workers. Keeping these jobs here provides stability for our communities and helps ensure Long Island remains an important hub for the financial services industry.”
NYPA President Justin E. Driscoll said: “The ReCharge NY program supports major employers across New York, leveraging low‑cost power to spur long‑term investments in our workforce and communities. Broadridge’s continued investment in New York strengthens the State’s financial technology sector and underscores the value of public-private collaboration.”
Stony Brook University President Andrea Goldsmith noted: “I am thrilled that Governor Hochul’s leadership around economic development has led to a $78M investment by Broadridge Financial Services to drive AI innovation and retain thousands of jobs on Long Island. The investment includes a broad partnership with Stony Brook University to advance AI education, provide mentorship opportunities for our students, develop research partnerships with our faculty, and launch workforce development programs to train the next generation of AI professionals. This commitment showcases our university’s important role in technology innovation and education to drive economic growth for our region and throughout the state.”
Founded as ADP Brokerage Services Group in 1962 with just one client before becoming independent in 2007, Broadridge now employs over 15,000 people worldwide—including many based in New York—making it one of the region’s largest employers within financial technology.