Tony Catapano

Andrew Cuomo

Cuomo: Last stop for IDA transit-tax breaks

By GREGORY ZELLER // Legislation prohibiting local industrial-development agencies from abating taxes used to fund transit authorities has been signed into law by Gov. Andrew Cuomo. Economic-development engines like the Suffolk County Industrial Development Agency will still be able to offer incentives packages to attract out-of-state enterprises and discourage established Suffolk businesses from leaving for other regions – but the percentage of a mortgage recording tax earmarked for transit agencies is off limits, according to…


IDA: Big forward step for Huntington Station plan

By GREGORY ZELLER // The Suffolk County Industrial Development Agency is a step closer to finalizing a tax-incentives package that would trigger a massive Huntington Station redevelopment effort. At its meeting Thursday in Hauppauge, the Suffolk IDA issued preliminary approval of a deal that would encourage Renaissance Downtowns at Huntington Station LLC, a real estate development spinoff formed specifically for the Huntington Station project, to commence the first phase of a larger downtown-redevelopment effort. Phase…


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…


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…


Fougera Pharmaceuticals plans $88M Melville plant

Fougera Pharmaceuticals plans to consolidate its local operations into a new $88 million Melville plant that will retain almost 400 jobs and give the firm room for additional growth. Fougera, which currently operates from smaller buildings in Melville and Hicksville, manufactures more than 200 branded and generic semi-solid creams, ointments and lotions treating such dermatological ailments as eczema, acne and psoriasis. Its parent company, Sandoz, is a leader in the manufacture of generic dermatology medicines…


Suffolk IDA takes a shine to incubator project

To give spirits-focused startups a chance to properly ferment, two East End entrepreneurs have launched a “distillery incubator” – and the Suffolk County Industrial Development Agency is picking up the first round. The Suffolk IDA has approved a 10-year, $120,860 tax break for the Matchbook Distilling Co., the brainchild of East Enders Leslie Merinoff and Brian Kwasnieski. Their plan: help regional beverage-makers break into the small-batch market through with a complete farm-to-bottle distillery incubator. “We…


Pharma companies expanding in Hauppauge

Two Long Island pharmaceuticals companies will purchase a 92,000-square-foot Hauppauge building and add on another 50,000 square feet of storage space through a deal announced Thursday by the Suffolk County Industrial Development Agency. The IDA has approved a $17.5 million package for sister companies Bactolac Pharmaceutical Inc. and ScieGen Pharmaceuticals Inc., which will purchase and renovate 330 Oser Ave. for $8.2 million and construct an addition that will be used to store materials for both…