Economic Development

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…


Hempstead IDA’s busy (and slightly familiar) summer

By GREGORY ZELLER // We may be entering the dog days of summer, but the Town of Hempstead Industrial Development Agency is hardly lying down on the job. The local IDA recently greenlighted two incentives deals designed to spur economic development, one in the Village of Valley Stream and one in the Village of Hempstead, both of which are part of Hempstead Town. The deals involve a residential complex and a retail site – less-common…


One year later, Hicksville’s downtown gears up

By GREGORY ZELLER // Nearly a year after it was named the regional winner of Albany’s second-annual $100 million downtown-revitalization contest, Hicksville’s new downtown is beginning to take shape. Governor Andrew Cuomo’s office this week announced the start of four “transformational projects” for downtown Hicksville, a census-designated hamlet within the Town of Oyster Bay, via the $10 million Downtown Revitalization Initiative award Hicksville won in August 2017. The “strategic, transit-oriented development investments” will increase access…


Hamptons Business District lands key tax deal

By GREGORY ZELLER // The evolving Hamptons Business District has received another substantial shot in the arm. The Suffolk County Industrial Development Agency has issued preliminarily approval of a new tax-abatement package that will help developer Rechler at Gabreski LLC construct its third building at the expanding Westhampton Beach business hub, located on the grounds of the county’s Francis S. Gabreski Airport. According to the IDA, the developer is investing $10.8 million in a construction plan at…


IDA brings Commack senior rentals closer to home

By GREGORY ZELLER // Senior citizens in Commack are still waiting to score, but the Suffolk County Industrial Development Agency has already earned an assist. The Suffolk IDA on Monday announced preliminary approval of an economic-development incentives package that will help bring a long-awaited, $26 million revitalization project to fruition – though the project, which would replace an old motel with an age-restricted rental community for residents 55 and older, still requires final approvals from…


Heavy-hitting LI BioMentor Initiative makes it official

By GREGORY ZELLER // A high-octane effort to unite regional bioentrepreneurs with qualified business mentors has formally launched – though the Long Island BioMentor Initiative is already quite busy. The LIBMI officially accepted its first program applications in a “launch event” Thursday morning at the de Seversky Mansion on the New York Institute of Technology’s Old Westbury campus. But the BioMentor Initiative is already a year into a “pilot phase,” according to founding mentor Mark…


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…


Cuomo looks to expand state’s MWBE outreach efforts

By GREGORY ZELLER // Albany is looking to expand the reach of New York’s successful MWBE Program. While current state law attaches specific “utilization” goals to the awarding of state contracts, proposed legislation would tweak the rules to include municipal contracts funded by the state – meaning counties, towns and other jurisdictions that funnel state monies into local projects would also have to meet minority- and women-owned business enterprise quotas. Gov. Andrew Cuomo announced the…


Alive and well, Start-Up NY adds two LI biotechs

By GREGORY ZELLER // Two early-stage Long Island biotechs are among 10 new companies hitching their wagon to one of Albany’s primary business-development efforts. Start-Up NY, the Empire State Development Corp. program that boosts new and expanding businesses with tax breaks and innovative academic partnerships, is opening its books to welcome 10 new businesses in the Long Island and New York City regions. The businesses – which each will launch, expand or relocate in geographic…


Analyzing the ‘power’ of Hauppauge Industrial Park

By GREGORY ZELLER // Regional rainmakers are hitting the gas in a multifaceted effort to rev up one of Long Island’s top economic engines. The Hauppauge Industrial Association of Long Island and the Suffolk County Industrial Development Agency on Friday announced a new partnership focused on Hauppauge Industrial Park, the 1,400-acre industrial cornerstone currently generating more than $870 million in annual income and property taxes. Some analysts think it can do even better – and…


Islanders drive $1B ‘economic engine’ to Belmont Park

By GREGORY ZELLER // The Islanders are coming home. With eighth-wonder-of-the-world fanfare, Gov. Andrew Cuomo announced the 10th proposal of his 2018 State of the State agenda Wednesday: bringing home Long Island’s once-and-future National Hockey League franchise. The Islanders – who played their last game in the old Nassau Coliseum on April 25, 2015, before relocating to Brooklyn’s Barclays Center – are returning to Nassau County, with Cuomo et al announcing that the team’s $1…


IDA’s numbers look right to Broadridge Investor Coms

By GREGORY ZELLER // An investor-communications specialist will upgrade and expand in Suffolk County, with a little help from the county’s Industrial Development Agency. The IDA on Thursday gave preliminary approval to a transaction that would help Broadridge Investor Communication Solutions, a subsidiary of Lake Success-based Broadridge Financial Solutions, renovate two existing Suffolk County offices and make equipment upgrades at three of the subsidiary’s properties. Among the projects on Broadridge Investor Communication Solutions to-do list:…


Long Island REDC rebounds with ‘Top’ $84.3M haul

By GREGORY ZELLER // The Long Island Regional Economic Development Council is back on top, once again ranked as a “Top Performer” in Albany’s annual REDC sweepstakes with a hefty $84.3 million haul. That’s terrific news for the “priority” and “regionally significant” projects on the LIREDC’s 2017 wish list, which included funding for a waterfront revitalization effort in Greenport, a new technology-focused Digital Ballpark business incubator in the Wyandanch Village development and 31 other projects…


Nassau IDA incentives snag NYC tech firm

A New York City-based tech firm will relocate to Port Washington, bringing 163 existing jobs and creating 255 more. Lured by an economic-development incentives package from the Nassau County Industrial Development Agency, Agilant Solutions Inc. – formerly known as ASI System Integration Inc. – plans to move its national headquarters from Manhattan to a 72,500-square-foot Seaview Boulevard warehouse and office building owned by Port Washington-based cosmetics company Ivy Enterprises. In addition to relocating and/or creating…