Economic Development

Economic Development October 8, 2020

Planes, trains, autos: Wheels up on LIMA ‘ground hub’

By GREGORY ZELLER // A key component of the Long Island Regional Economic Development Council’s strategic investment has taken flight – actually, broken ground – at Long Island MacArthur Airport. This week, a gaggle of state and local politicos joined regional rainmakers to mark the beginning of work on a new “intermodal facility” at the Islip aerodrome, designed to increase air traffic by facilitating easier ground transportation. The project will renovate an existing airport building…

Hempstead LDC eyes $58M charter school bond deal

By GREGORY ZELLER // A $58 million bond sale will likely fuel the large-scale expansion of a preeminent Long Island charter school. The Town of Hempstead Local Development Corp. has granted preliminary approval to the tax-exempt bond sale, which the Academy Charter School will use to build and equip a new vocational/technical high school in Uniondale, create new middle-school facilities in Uniondale and expand its existing Hempstead middle school to accommodate elementary-aged students. The bond…

Economic Development March 17, 2020

Nassau IDA backs rentals, ex-Fortunoff facility facelift

By GREGORY ZELLER // A transit-oriented housing development and a bigger, better home for a large mortgage banker have earned the support of the Nassau County Industrial Development Agency. Trumpeting new affordable housing opportunities, new jobs and other economic benefits, the IDA has announced preliminary approval of a tax-abatement deal that will keep a Westbury mortgage firm in Nassau County – and help it nearly double its payroll – and final approval of a benefits…

Economic Development February 20, 2020

Busy Suffolk IDA eyes jobs in new incentives packages

By GREGORY ZELLER // Take a breath, Suffolk County IDA! It’s already been a busy 2020 for the jobs-focused Industrial Development Agency, which continued to build pro-employment momentum this week with fresh tax-incentive deals promising hundreds of temporary construction jobs in the short term and the creation/retention of hundreds of full-time positions later. Just weeks after greenlighting tax breaks for the developers of Destination KP – a tourism magnet billed as “the largest privately owned…

Economic Development December 19, 2019

From the Nassau IDA, gifts that (might) keep on giving

By GREGORY ZELLER // Christmas has come early in Nassau, where the county’s Industrial Development Agency has slipped two business-building economic-incentives packages under the tree. The IDA on Wednesday announced preliminary approval for a tax-abatement deal benefiting JP Optionee, a limited liability corporation created to help New Jersey-based Onyx Equities and Manhattan-based DRA Advisors build a 147,524-square-foot hotel and conference center at Jericho Plaza. The development agency also announced an incentives package for Paint Applicator…

Economic Development October 29, 2019

Mirabella bows, generations change at the LIBDC

By GREGORY ZELLER // A “council of elders” works great in the movies, but for 21st century business development, only fresh thinking will do. This is Edward Mirabella’s mindset, at least, as he trumpets “young, new blood” and steps down as co-chairman of the Long Island Business Development Council Executive Board, effective Oct. 31. Mirabella, a 43-year commercial banking veteran who launched Wantagh-based corporate consultancy Mirabella Associates in 2006, will continue as treasurer of the…

Economic Development October 2, 2019

In 2019 plan, LIREDC ‘doubles down’ on what works

By GREGORY ZELLER // From the If It Ain’t Broke file comes the Long Island Regional Economic Development Council, which covers proven ground in its annual progress report/wish list to the Empire State Development Corp. Meeting ESD’s yearly Oct. 1 submission deadline, the LIREDC slapped a new title on its 2019 report (“Long Island: Breaking Down Barriers”) but filled it with a familiar mix of success stories and future ambitions, largely focused on the Island’s…

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