Economic Development

Study: Park is the place for ‘tradeable’ opportunities

By GREGORY ZELLER // It already plays a central role in the Long Island economy, but the economic power of the Hauppauge Industrial Park has barely been scratched. So says a new “opportunity analysis” of the Northeast’s largest business park, prepared by the Suffolk County Industrial Development Agency and the Hauppauge Industrial Association of Long Island and announced Wednesday by Suffolk County Executive Steve Bellone. “Hauppauge Industrial Park: Regional Competitiveness and Growth Strategies” spends 160…


Minority-owned businesses benefit as Hofstra ‘Ascends’

By GREGORY ZELLER // A new university/government/industry outreach program focused on minority entrepreneurs received an executive-grade kickoff Tuesday at Hofstra University. Funded by a $350,000 grant from JPMorgan Chase, the Ascend Long Island program – what Hofstra called “the first suburban outpost” of Chase’s larger Ascend 2020 effort – launched with a half-day symposium and an impressive 24 regional businesses already in the fold. Ascend 2020 is a joint effort of JPMorgan Chase’s Small Business…


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…


Brookhaven backs Bristal Assisted Living, once again

By GREGORY ZELLER // Two senior-living projects will move forward in Mount Sinai, with a little help from the Town of Brookhaven Industrial Development Agency. The Brookhaven IDA has closed on a fresh economic-incentives package with The Engel Burman Group, the Garden City-based residential developer and frequent Brookhaven IDA collaborator known best for its assisted-living communities. According to the development agency, the new tax-abatement package will help its old business associate with a 120-unit Bristal…


Handy IDA package helps maintenance manager move

By GREGORY ZELLER // Leveraging a $5 million company investment and looking to preserve nearly five dozen jobs, the Suffolk County Industrial Development Agency has stepped up like a boss. Actually, the IDA stepped up for a Boss, as in Boss Facility Services, a Ronkonkoma-based facilities-maintenance contractor that’s looking to purchase and renovate a 31,000-square-foot building on Adams Avenue in Hauppauge. That transaction becomes a little easier thanks to the Suffolk IDA, which has issued…


Lower-tier LI consoled by $68M in 2018 REDC awards

By GREGORY ZELLER // If $68.3 million for workforce development and affordable housing programs is losing, Long Island will take it. That’s the Island’s haul in the 2018 Regional Economic Development Council competition, announced Tuesday by Empire State Economic Development Corp. President and CEO Howard Zemsky. Zemsky, also commissioner of the New York State Department of Economic Development, presented all 10 winners of the annual statewide development competition, each representing one of 10 economic-development zones….


NYC magnate, Conn. corp. feel IDA’s holiday spirit

BY GREGORY ZELLER // The Brookhaven Industrial Development Agency is feeling the holiday spirit, giftwrapping new incentives deals for a growth-minded East Patchogue equipment-rental cooperative and a New York City developer with plans for a Medford warehouse. The IDA will help Connecticut-based national equipment rental company United Rentals build and operate an 18,000-square-foot facility on 10 acres in East Patchogue, designed to store and distribute construction and industrial equipment. And the development agency is helping…


Hempstead IDA drives school bus company’s new HQ

By GREGORY ZELLER // The wheels on the bus go round and round in Hempstead, where the Industrial Development Agency has finally finalized an economic-incentives package for a leading school bus operator. Approved in September and closed Nov. 30, the Town of Hempstead IDA’s undisclosed tax-abatement deal will help Port Washington-based Dell Transportation Corp. acquire 1.37 acres at the intersection of Kellum Place and Union Place in the Village of Hempstead. Dell Transportation is planning…


20 years and still smartening up at Vision Long Island

By GREGORY ZELLER // Before downtown redevelopment was cool, there was Vision Long Island. Today, it seems, everyone is doing it: “Transit-oriented development” is in, Albany doles out $10 million checks to stir the pot and some 40 Long Island downtown districts are in some revivalist phase – a “coalition of the willing,” according to Vision Long Island Director Eric Alexander, who remembers a time not long ago when things were a little different. “When…


Suffolk IDA delivers tax breaks for Deliver My Meds

By GREGORY ZELLER // Long Island patients, including the elderly, may acquire their home-delivered pharmaceuticals at a much faster clip, with the assistance of the Suffolk County Industrial Development Agency. The IDA has issued preliminary approval of an economic-incentives package that will help the owner of a series of local pharmacies in Brooklyn and Long Island grow a new corporation designed specifically to receive, prepare and ship prescription orders, all from a new facility on…


Nassau IDA backs new rentals on Sandy-ravaged site

By GREGORY ZELLER // An Oceanside site ravaged by Superstorm Sandy will soon be remade into a new rental-apartment complex, with the help of the Nassau County Industrial Development Agency. The Nassau IDA has approved a tax-reducing economic-incentives package that will help The Feil Organization, a New York City-based development-management firm, rebuild the dilapidated site into a 230-unit, transit-oriented rental complex. The development agency first approved the tax-abatement deal in September and issued its final…


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…