Economic Development

Suffolk IDA package gives relocating PT firm a leg up

By GREGORY ZELLER // A Whitestone-based physical therapy network has received a shot in the arm from the Suffolk County Industrial Development Agency. The IDA on Thursday offered preliminary approval for an economic-development incentives package that will allow PPT Management LLC, a multistate provider of physical rehabilitation and hand-therapy services, to close its administrative offices in Queens and Nassau County and establish a new corporate headquarters in Melville. PPT Management, which was founded in 1998…

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Albany pumps $10M into a new downtown Hicksville

By GREGORY ZELLER // Hicksville has won the regional round of New York State’s second-annual $100 million downtown-redevelopment contest. The Nassau County hamlet in the Town of Oyster Bay will pocket $10 million in a ceremony scheduled to be hosted Wednesday by Gov. Andrew Cuomo. Hicksville beat out nearly two dozen Long Island municipalities vying for the regional award, which is managed by the state’s Downtown Revitalization Initiative, one of many competitive-funding programs launched by…


Light the lights: Broadway National eyes new stage

By GREGORY ZELLER // Broadway National is changing venues. The three-decade-old property-management firm with the big-name clientele is taking its big-stage flair from Ronkonkoma to Hauppauge, thanks to a new incentives package preliminarily approved this week by the Suffolk County Industrial Development Agency. Launched in 1989 in the garage of founder William Paparella as sign manufacturer Broadway Neon Corp., Broadway National Group LLC is a bona fide hit. The company now offers a diverse set…


Developers jockey for position after Belmont RFP

By GREGORY ZELLER // Like a bugle call summoning the field to the starting gate, New York State is beckoning developers to Belmont Park. Trumpeting “an exciting and much-anticipated development opportunity on Long Island,” Empire State Development President and CEO Howard Zemsky on Monday issued a Request for Proposals for the redevelopment of property within the hallowed racetrack’s grounds, located in the “census designated place” Elmont, within the Town of Hempstead. Two parcels totaling roughly…


Aerospace is swell and all, but this is about land

By GREGORY ZELLER // Make no mistake: For Greek-American billionaire John Catsimatidis, this is a land deal, pure and simple. The owner of Gristedes Foods, the largest grocery chain in Manhattan, can issue press statements noting his “deep roots and interest in aviation,” as he did after word spread that United Refining Energy Corp. – one of several companies under the umbrella of Catsimatidis’ Red Apple Group – would back Luminati Aerospace LLC’s efforts to…


Suffolk IDA backs an old friend in Hauppauge

A Hauppauge-based tech consultancy will expand its global headquarters and business operations, with the help of the Suffolk County Industrial Development Agency. The IDA on Thursday granted preliminary approval to a transaction that will help Flexible Business Systems, which provides professional IT and cybersecurity support for client companies without indigenous IT departments, purchase and renovate a 40,000-square-foot-facility on Motor Parkway. Terms of the incentives package were not disclosed, but the expansion effort amounts to a…


Feds OK $537M loan for NYC’s Farley train project

New York has been greenlighted for more than $500 million in federal loans to covert the Farley Post Office building in Manhattan into a modern transit hub, replacing the rabbit warren of tunnels known as Penn Station. The credit program, formerly called the Transportation Infrastructure Finance and Innovation Act but better known as TIFIA, has been used repeatedly by the state for big construction projects, including the State Island ferry terminals and the new Tappen…