Economic Development

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…

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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…