Economic Development

Hempstead advances three key development projects

By GREGORY ZELLER // It’s been a busy week in the Town of Hempstead, where local economic-development officials have hit the gas on a multitude of projects. The Hempstead Industrial Development Agency on Tuesday approved the sale of Park Lake Residences, an affordable-housing complex located in the Village of Hempstead, and the reassignment of existing economic benefits to the complex’s new owner. The IDA also granted preliminary approval to an economic-benefits package that will allow…

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Cuomo looks to expand state’s MWBE outreach efforts

By GREGORY ZELLER // Albany is looking to expand the reach of New York’s successful MWBE Program. While current state law attaches specific “utilization” goals to the awarding of state contracts, proposed legislation would tweak the rules to include municipal contracts funded by the state – meaning counties, towns and other jurisdictions that funnel state monies into local projects would also have to meet minority- and women-owned business enterprise quotas. Gov. Andrew Cuomo announced the…


Alive and well, Start-Up NY adds two LI biotechs

By GREGORY ZELLER // Two early-stage Long Island biotechs are among 10 new companies hitching their wagon to one of Albany’s primary business-development efforts. Start-Up NY, the Empire State Development Corp. program that boosts new and expanding businesses with tax breaks and innovative academic partnerships, is opening its books to welcome 10 new businesses in the Long Island and New York City regions. The businesses – which each will launch, expand or relocate in geographic…


Analyzing the ‘power’ of Hauppauge Industrial Park

By GREGORY ZELLER // Regional rainmakers are hitting the gas in a multifaceted effort to rev up one of Long Island’s top economic engines. The Hauppauge Industrial Association of Long Island and the Suffolk County Industrial Development Agency on Friday announced a new partnership focused on Hauppauge Industrial Park, the 1,400-acre industrial cornerstone currently generating more than $870 million in annual income and property taxes. Some analysts think it can do even better – and…


Islanders drive $1B ‘economic engine’ to Belmont Park

By GREGORY ZELLER // The Islanders are coming home. With eighth-wonder-of-the-world fanfare, Gov. Andrew Cuomo announced the 10th proposal of his 2018 State of the State agenda Wednesday: bringing home Long Island’s once-and-future National Hockey League franchise. The Islanders – who played their last game in the old Nassau Coliseum on April 25, 2015, before relocating to Brooklyn’s Barclays Center – are returning to Nassau County, with Cuomo et al announcing that the team’s $1…


IDA’s numbers look right to Broadridge Investor Coms

By GREGORY ZELLER // An investor-communications specialist will upgrade and expand in Suffolk County, with a little help from the county’s Industrial Development Agency. The IDA on Thursday gave preliminary approval to a transaction that would help Broadridge Investor Communication Solutions, a subsidiary of Lake Success-based Broadridge Financial Solutions, renovate two existing Suffolk County offices and make equipment upgrades at three of the subsidiary’s properties. Among the projects on Broadridge Investor Communication Solutions to-do list:…


Long Island REDC rebounds with ‘Top’ $84.3M haul

By GREGORY ZELLER // The Long Island Regional Economic Development Council is back on top, once again ranked as a “Top Performer” in Albany’s annual REDC sweepstakes with a hefty $84.3 million haul. That’s terrific news for the “priority” and “regionally significant” projects on the LIREDC’s 2017 wish list, which included funding for a waterfront revitalization effort in Greenport, a new technology-focused Digital Ballpark business incubator in the Wyandanch Village development and 31 other projects…