Economic Development

Shamash departs, SBU economic development realigns

By GREGORY ZELLER // Stony Brook University is bidding farewell to its longtime economic-development guru – and saying hello to a new innovation-and-commercialization protocol, starting with a union of its mighty research and economic-development offices. University President Samuel Stanley Jr. announced Thursday that effective April 1, SBU’s Office of Economic Development will be consolidated within the university’s Office of Research – creating the new Office of Industry-Research Partnerships & Business Services and the new Office of…

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Past success, future hopes fuel LIREDC’s 2018 report

By GREGORY ZELLER // The Long Island Regional Economic Development Council has met its Oct. 1 deadline and submitted its annual progress report/wish list to the Empire State Development Corp., Albany’s main economic-development engine. The 2018 progress report, titled “Long Island: Completing the Puzzle,” both highlights the efforts of the Long Island REDC since Gov. Andrew Cuomo launched his competitive statewide economic-development program in 2011 and lists the projects the regional council hopes to support…


Brookhaven IDA backs Triple Five’s Dowling plan

By GREGORY ZELLER // A New Jersey-based developer with high-flying plans for a new Long Island aviation hub has earned an assist from the Town of Brookhaven Industrial Development Agency. The IDA on Tuesday announced its final approval of an economic-incentives package that will help Triple Five Aviation Industries LLC, a subsidiary of East Rutherford-based Triple Five Worldwide Group, redevelop the former Dowling College campus in Shirley into what the development agency called an “aviation…


Long Island pet-chow firm will stay, thanks to IDA

By GREGORY ZELLER // Long Island’s largest pet-food company seems likely to remain a Long Island company, thanks to man’s best friend – at least, a good friend of regional enterprise. The Suffolk County Industrial Development Agency has issued preliminarily approval of an economic-development package that would help Deer Park-based Health Extension Pet Care – doing business as Holistic Health Extension – purchase, renovate and equip a new headquarters building. According to the IDA, the…


Hempstead advances three key development projects

By GREGORY ZELLER // It’s been a busy week in the Town of Hempstead, where local economic-development officials have hit the gas on a multitude of projects. The Hempstead Industrial Development Agency on Tuesday approved the sale of Park Lake Residences, an affordable-housing complex located in the Village of Hempstead, and the reassignment of existing economic benefits to the complex’s new owner. The IDA also granted preliminary approval to an economic-benefits package that will allow…


Brookhaven IDA considers Amneal expansion plan

By GREGORY ZELLER // A rapidly growing drug-maker may be able to keep up with skyrocketing “business dynamics” on Long Island, with a little help from the Brookhaven Industrial Development Agency. The IDA on Wednesday announced that it has accepted an application for a tax-relief package from Amneal Pharmaceuticals LLC, designed to help the New Jersey-based generic-pharma manufacturer expand its Island operations. Amneal Pharmaceuticals, which weighs in as the fifth-largest U.S. generics manufacturer, already operates…


Central Islip snags $10M prize in Albany’s annual DRI

By GREGORY ZELLER // Following wins by Westbury in 2016 and Hicksville in 2017, Central Islip has earned the nod – and the $10 million prize – as the Long Island regional winner in Albany’s yearly downtown-revitalization competition. The 10 regional winners in the third-annual Downtown Regional Initiative contest – a statewide competitive-application process that doles out $10 million stipends to spruce up distressed downtowns in each of New York’s 10 economic-development zones – were…