Economic Development

Economic Development January 5, 2021

Busy pharma manufacturer to expand, again, in Suffolk

By GREGORY ZELLER // A Suffolk County Industrial Development Agency incentives package will spark the $15 million renovation of a vacant Hauppauge property. The IDA has issued preliminary approval of a tax-abatement deal for Piping Rock Health Products, a Ronkonkoma-based LLC that – in addition to several other operations across the country – already boasts 11 Suffolk County facilities, and will now add a 12th on Davids Drive. Piping Rock – a 2011 startup that…

Incentives abound as Nassau IDA, LEAC plug away

By GREGORY ZELLER // It’s full steam ahead in Nassau County’s economic-development wing, where the coronavirus can’t slow the works. The Nassau County Local Economic Assistance Corp. and the Nassau County Industrial Development Agency have pressed forward with a number of jobs-creating, economy-sustaining bond sales and incentives packages, helping top international franchisers, regional schools and others keep on keeping on during and after the great pandemic of 2020. Right at the top: The IDA’s preliminary…

Economic Development April 7, 2020

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…

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