Economic Development

One and done for IDP Consulting, Suffolk IDA

By GREGORY ZELLER // It’s a win for Suffolk and a loss for Nassau, though ultimately, Long Island comes out ahead. The Suffolk County Industrial Development Agency on Thursday approved an incentives-laden deal for IDP Consulting, a 30-year-old IT firm that will use the assistance to relocate from Jericho to Hauppauge. The sales tax-abatement incentives package will allow the company to sink $315,000 into leasing, renovating and equipping its new 6,200-square-foot office on Engineers Road….


LIREDC 2016: Synthetic leather, wings and prayers

By GREGORY ZELLER // With a string of annual victories under its belt, the Long Island Regional Economic Development Council is shooting for the moon, once again. This week, the LIREDC – co-chaired by Hofstra University President Stuart Rabinowitz and Long Island Association President Kevin Law – recommended 112 distinct projects for tens of millions of dollars in state aid, to be doled out later this year through Gov. Andrew Cuomo’s annual REDC competition. Among…


Hofstra, NYIT join Start-Up NY family

By GREGORY ZELLER // It’s the startup of something big at Hofstra University and the New York Institute of Technology’s Old Westbury campus, which have both been added to the rolls of the Start-Up NY program. The Start-Up NY Approval Board green-lighted four individual action plans at its meeting Wednesday in Albany, approving new Tax Free NY Areas at Hofstra and NYIT and embracing plan amendments at two upstate institutions. In addition to approving the plans submitted…


Pitch Night heralds latest LI LaunchPad

By GREGORY ZELLER // The newest member of the LaunchPad Long Island family will celebrate its grand opening with a showcase of regional innovation. LaunchPad Westbury, an 8,000-square-foot co-working space carved out of the 180,000-square-foot office complex at 1025 Old Country Road, officially opens for business Monday. The sixth Long Island facility to wave the LaunchPad flag will mark its debut Monday evening with its first Pitch Night, a “Shark Tank”-like event placing four early-stage…


Suffolk IDA likes Royal Apparel’s look

By GREGORY ZELLER // When Morey Mayeri told Innovate LI he was “ready to do it immediately,” he wasn’t kidding. Speaking Aug. 17 about a possible intra-Hauppauge relocation for premium wholesaler Royal Apparel – including the acquisition and potential expansion of a larger warehouse/production facility– the cofounder and CEO said he and his brother, cofounder Abraham Mayeri, were ready to pull the trigger “if the help was there.” And they were eagerly anticipating this week’s…


A food movement grows in Amagansett

By GREGORY ZELLER // There’s fresh thinking and then there’s the Amagansett Food Institute, which operates well ahead of the food-innovation curve on its mission to promote regional producers. Just a year into its ballyhooed takeover of the decades-old Amagansett Farmer’s Market, the imaginative institute – a membership-based 501(c)3 catering to farmers, vintners, fishermen, beverage crafters and other food artisans – is already imagining physical renovations and other organizational enhancements designed to spice up the…


Best Market, Albany cooking up LI ‘food hub’

Regional grocery chain Best Market will take over about one-third of the former Entenmann’s facility in Bay Shore, Gov. Andrew Cuomo announced Tuesday, the first step in the establishment of a new Long Island “food hub.” The privately held, family-owned company – which started with small fruit-and-vegetable stores in Brooklyn and now manages 30 supermarkets in New York, Connecticut and New Jersey, including its newest in Islip – will consolidate distribution operations and its corporate…


India’s pharma king earns Suffolk IDA nod

Suffolk County has burnished its reputation as a choice commercial destination for early-stage pharmaceuticals. The Suffolk County Industrial Development Agency on Thursday approved a corporate incentives package for Evaric Pharmaceutical, a generic drug-maker founded by Bandi Parthasaradhi Reddy, owner and chairman of global distributor Hetero, India’s largest privately held pharma. The sales and mortgage tax-abatement package allows Evaric Pharmaceutical to proceed with a $15.5 million purchase-and-renovation plan targeting a 107,000-square-foot facility inside Hauppauge Industrial Park,…


Marching forward in New Cassel

The Salvation Army has won approval for a 24,000-square-foot chapel and community center on the site of its Prospect Avenue operation in New Cassel. The center, which will include a chapel, multi-purpose rooms and a basketball court, will replace a rundown former bar and two residences on the property. There was moderate opposition from local residents concerned with increased traffic and the fact that the hamlet’s own community center, Yes We Can, is barely a…


Suffolk IDA deals responsible for 1K jobs

The Suffolk County Industrial Development Agency closed almost a dozen deals in the first half of 2016, creating or helping hold onto almost 1,000 jobs. in the first six months of 2016 closed on 11 transactions slated to create or retain 976 jobs, officials said Monday. “By aiding a business’s growth in the short term, we create good jobs for our residents and expand the county’s tax base for years to come,” Tony Catapano, the…


Suffolk IDA makes Comtech pitch

Rack that up as a fairly profitable day for Comtech Telecommunications Corp. First, the Melville-based high-tech manufacturer announced Thursday morning that it has received a $1.3 million funded order from the federal government for a new microwave network and associated power systems. Then, later Thursday, Comtech PST Corp. – part of Comtech’s Government Solutions segment – announced multiple orders for high-power radio-frequency amplifiers from multiple domestic manufacturers, totaling approximately $5.8 million. And finally, at its…


Amagansett Farm Reaps ‘Early-Stage’ Award

Rookie farmers across New York State have received an economic boost from Albany through the New Farmers Grant Fund. A total of 25 “early-stage farmers” will share $743,000 in grants, Gov. Andrew Cuomo’s office announced Wednesday, carrying the new-farmer program’s three-year grant total past $1.4 million. The funds are meant to improve each startup farm’s profitability and promote diversification and growth across New York’s agricultural sector, according to the governor’s office. Included in this third…


Startups Shine At SBU Incubator Showcase

By GREGORY ZELLER // Stony Brook University’s impressive economic-development ecosystem took a home run trot Thursday during the university’s first-ever Business Incubator Showcase, held at the Center for Excellence in Wireless Information Technology. Uniting more than 40 startup and early-stage companies stemming from CEWIT and SBU’s Center for Biotechnology, Long Island High Technology Incubator, Advanced Energy Center, Clean Energy Business Incubator Program and Business Incubator at Calverton, the showcase – which attracted special guests including…


United it stands, with help from the Suffolk IDA

A 33-year-old biotech will purchase and renovate its longtime Hauppauge home, thanks to tax breaks approved Thursday by the Suffolk County Industrial Development Agency. Synthetic vaccine manufacturer United Biomedical Inc. will undertake an $8.4 million effort to purchase and renovate the 43,000-square-foot facility it has leased since 1992. The IDA’s incentive package will also help the company, which originally launched in Delaware and established its Hauppauge headquarters after seven years, to furnish its renovated facility…


American Culture, now bottling its own future

By GREGORY ZELLER // From the Close Call file comes the story of American Culture, a Huntington Station hair-care manufacturer that nearly gave Long Island the brush-off. Cofounder Louis Guarneri didn’t want to leave LI. He’s the third of what he hopes will be four (at least) generations in the beauty business, all on Long Island. He met his wife and cofounder, Doreen, when they were 13, and they dated throughout their years at Cold…