Economic Development

In the land of milk and Cuomo, opportunity flows

By GREGORY ZELLER // Unemployment’s down, personal income’s up and private-sector jobs across New York State have never been more plentiful. These statistical truths and more color Empire State Development Corp.’s 2017 Annual Report, a 128-page economic-development bouquet wherein the Fortune 500 flock to Cuomoland and a river of golden opportunity flows from the gleaming capital – more specifically, $1.8 billion in ED grants, loans and tax credits, dispersed by Albany over the 12 months…

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Ronkonkoma Hub (finally) gets its Brookhaven IDA deal

By GREGORY ZELLER // The ambitious Ronkonkoma Hub development project has at long last secured an incentives package from the Town of Brookhaven Industrial Development Agency. The tax-abatement deal has been a long time coming: Phase 1 of Tritec Real Estate Co.’s $538 million, transit-oriented commercial and residential master plan actually earned unanimous approval in 2014 for a Brookhaven IDA economic-benefits package. But the long-discussed project – “soon expected to break ground,” according to the…


At Stony Brook’s CEWIT, never too old to incubate

By GREGORY ZELLER // A Stony Brook University business-development program known primarily as a haven for startups has opened its doors to a 24-year-old tech innovator. Islandia-based “medical informatics” firm ZyDoc Corp. has been accepted into SBU’s Incubator Program and will move a research-and-development team this month into the university’s Center of Excellence in Wireless and Information Technology. Although CEWIT’s own mission statement lists “new enterprise development” as a core function, ZyDoc – launched in…


LICA cooks up tasty Food & Beverage investor forum

By GREGORY ZELLER // Bring your appetite to the Long Island Capital Alliance’s next Capital Forum. After three quarterly innovator-meets-investor events with a decidedly high-tech flavor – early-stage technology in March, cybersecurity in June, healthcare in September – LICA will wrap up its 2017 series with a Food & Beverage Capital Forum, spotlighting “premier growth companies” in the gastronomical realm. As always, the event will feature a handful of what LICA calls “dynamic, emerging companies”…


With ESD’s help, Seviroli plans a new pasta course

By GREGORY ZELLER // A maker of “artisan dining at home” selections is expanding its foodie-friendly Long Island footprint. The Empire State Development Corp., Albany’s main economic-development engine, announced Thursday that Seviroli Foods Inc. will grow its regional presence with the acquisition of a 33,000-square-foot production and warehouse facility in Garden City. Leveraging $350,000 in performance-based tax credits offered through ESD’s Excelsior Jobs Program, the company will invest $9 million to acquire and renovate multiple…


Tomorrow’s health tech to shine at LICA Capital Forum

By GREGORY ZELLER // Another intriguing combination of presenters and panelists marks the next Capital Forum on the Long Island Capital Alliance’s schedule, this one focused on the lifeblood of the Island’s innovation economy. Following a June networker centered around cybersecurity startups and a March pitch-a-thon spotlighting early-stage technology firms, the latest Capital Forum returns to healthcare, a Long Island socioeconomic cornerstone that has naturally become a go-to theme for LICA and its (roughly) quarterly…


Suffolk IDA engineers deal for new national HQ

A corporate consolidation in Melville is in the works, thanks in part to the Suffolk County Industrial Development Agency. The agency on Thursday issued preliminary approval for a transaction that will help Grace Industries LLC establish a national corporate office – a $17 million company investment that will consolidate several of the civil engineering firm’s existing offices in the new Melville HQ. Grace Industries, a subsidiary of the Plainview-based civil engineering conglomerate Haugland Group, currently…