Navigating the Future: Insights from the 30th Annual Long Island Economic Summit

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Pictured: A view from the dais at the February 15, 2024 30th Annual HIA-LI Long Island Economic Summit.

The 30th Annual Long Island Economic Summit, held on February 15, 2024, began with a clear message: Long Island “is a good place to do business.”

This year’s summit, drawing on the findings of the 2024 Long Island Economic Survey conducted by Adelphi University and Citrin Cooperman, brought to light the resilience and adaptability of our local business community. Business leaders across both counties – who were surveyed between November 1, 2023, and January 15, 2024 – made it quite evident that despite some hurdles, there’s a strong sense of optimism about doing business here. The event served not only as a platform for analysis and discussion but also as a beacon of positive expectations for the region’s economic landscape.

I’d like to summarize the findings and share some of the analysis from the summit’s distinguished panelists.

Survey Highlights

  • Taxes, retention of young talent, and inflation are a major concern for most businesses.
  • Long Island businesses seem hesitant to explore the benefits of AI compared to the rest of the country.
  • Supply chain issues, though not as extreme as years past, continue to linger.
  • Compensation, human resource issues, and workforce development remain a high concern.
  • Confidence in government’s role continues to deteriorate, however Long Island continues to be perceived as a good place to do business.

The Role of AI

Panel moderator John Fitzgerald, Managing Partner at Citrin Cooperman, noted the mixed feelings surrounding AI, pointing out that “Long Island businesses seem hesitant to fully explore the benefits of AI compared to the rest of the country.” This underscores a crucial area for potential growth and innovation.

To help meet that need, HIA-LI will be partnering with the LIA in an April 3 Long Island Artificial Intelligence Conference. The goal of the conference is to bring businesses, entrepreneurs, academia, not-for-profit organizations, and government officials together to discuss how our region can play a leading role in the development and implementation of AI technologies.

For more information, go to www.LI-AI.eventbrite.com.

Government Support

Dr. Lawrence Eisenstein, VP and Chief Public and Community Health Officer at Catholic Health, stressed the importance of government support, especially when it comes to healthcare reimbursements. “We need more help in terms of increased Medicaid and Medicare revenue,” he said. “Nobody would go into one of your businesses and say I want services, but I’m only going to pay you 60 percent.”

Food Insecurity

Paule Pachter, President and CEO of Long Island Cares, and an HIA-LI board member, emphasized the critical challenge of food insecurity on Long Island, stating, “A family of four who’s earning $60,000 or $70,000 a year are finding themselves going to food pantries or going to food banks to ask for some assistance. They don’t need everything. But they need some things in order to stretch their budget.”

Economic Outlook

Jeffrey Barber, Executive Vice President of Dime Community Bank, provided an insightful perspective on the economic outlook, highlighting the financial landscape’s strengths and potential growth areas. He noted, “There’s a tremendous amount of liquidity in the market. Many companies sat on those funds during COVID and didn’t know where things were headed.” He added some good news, “They’re now at a point where they’re comfortable spending and creating jobs.”

Talent Retention

Rich Humann, President and CEO of H2M architects + engineers, and an HIA-LI board member, discussed the ongoing challenge of retaining young professionals, underscoring the importance of creating connections, opportunities, and a compelling work environment to encourage talent to stay on Long Island. “Our responsibility as business owners is to provide the kind of environment and opportunity that would keep people with companies like ours.”

Higher Education

MaryAnne Hyland, Dean of the School of Business at Adelphi University, added to the discussion on talent retention by emphasizing the need for higher education institutions to adapt and innovate in preparing the workforce. “We need to make sure that we are providing students with programs that provide cutting-edge knowledge and skills that focus on the demands of the workforce of today and tomorrow,” she stated, highlighting the critical role of education in workforce development.

Moving Forward: A Collaborative Vision for Growth

The 2024 Economic Survey, coupled with the insights from the Economic Summit, paints a picture of a region at the threshold of significant growth, buoyed by optimism, yet mindful of the hurdles that lie ahead. The collective wisdom of the panelists, alongside the statistical data, underscores the need for collaborative efforts in innovation, government support, and talent retention strategies.

As we look to the future, the path for Long Island is clear: leveraging the insights and optimism shared at the summit to foster an environment where businesses and communities can thrive. With a commitment to addressing the highlighted challenges head-on, Long Island is poised to navigate its economic journey with resilience and vision.

You can read the full 2024 Long Island Economic Survey here.

Shaping the Future of Long Island: Reflections from HIA-LI’s 46th Annual Meeting and Legislative Program

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Pictured: HIA-LI board members and Legislative Program panelists pause for a group photo.

HIA-LI’s 46th Annual Meeting and Legislative Program marked a significant confluence of ideas and strategies from key regional and statewide policymakers and leaders. This year’s event was a vibrant forum for discussing Long Island’s trajectory, focusing on economic growth, infrastructure, environmental sustainability, and adapting to new societal post-pandemic norms.

Here at HIA-LI, we’re extremely proud of the strides made in the Long Island Innovation Park at Hauppauge, a major economic engine with 55,000 employees and $13 billion in economic output. Significant achievements include new branding initiatives, such as the introduction of flags and signage as well as vital infrastructure developments such as sewage expansion.

Our focus on sustainable development is evident in our plans for electric vehicle integration and a transportation study for the park. We’ve broadened the scope of our Economic Development Task Force, while our Workforce Development Task Force has been pivotal in bridging the gap between businesses and educational institutions.

I’m especially proud of our membership growth of over 21 percent and our successful engagement strategies across all HIA-LI social media channels. That includes a new partnership with Going Local TV as well as the growth of our Business Steps Up podcast.

Kicking off the Legislative Program, newly elected Suffolk County Executive Ed Romaine’s comments were particularly noteworthy for its emphasis on environmental and infrastructural initiatives. He passionately advocated for a referendum on clean water, seeing it as vital for Suffolk County’s ecological future. Romaine highlighted the crucial need for the electrification of the Long Island Rail Road’s Port Jefferson line, explaining how it would revolutionize local transportation and stimulate economic growth. Further, he underscored the importance of securing equitable funding from Albany, essential for the region’s comprehensive development.

Smithtown Supervisor Ed Wehrheim – who also serves on the Long Island Regional Planning Council – shared his vision for Smithtown’s infrastructure development, specifically referencing his advocacy for sewage treatment plants as a catalyst for growth and environmental protection. Wehrheim emphasized the need for community-centric governance, stressing the importance of civic engagement in shaping effective local policies.

John Walser, Director of Economic Development at the Town of Islip, representing Supervisor Angie Carpenter, provided insights into the economic development strategies being implemented in Suffolk’s second largest township. He elaborated on initiatives aimed at strengthening local businesses and attracting new investment. Walser acknowledged the pivotal role of the Long Island Regional Planning Council in coordinating the region’s economic strategies.

We were once again honored that Lieutenant Governor Antonio Delgado joined us virtually via “live” Zoom. He articulated the state administration’s dedication to supporting Long Island’s communities. Delgado spoke on the significance of public-private partnerships in achieving community safety, affordability, and economic prosperity. He further highlighted the governor’s commitment to expanding the FAST NY program to prepare sites for development, fostering New York’s competitive edge in national job creation.

Delgado also discussed the “Long Island Forward” program, aimed at addressing the residential housing shortage by encouraging municipalities to create shovel ready sites through targeted incentives. The goal, he said, is to retain local talent, allowing young people to raise their families on Long Island with an eye towards strengthening New York’s economy.

After each speaker had a chance to present, a lively discussion ensued on a variety of timely topics such as reviving Long Island’s economy post-COVID-19, emphasizing technological innovation; addressing Long Island’s affordable housing crisis; the need for infrastructure improvements, especially modern solutions to traditional septic systems; and, advocating for environmental sustainability through green initiatives.

HIA LI’s 46th Annual Meeting and Legislative Program demonstrated the commitment and foresight of Long Island’s leaders. It also showed that the dedication and resilience of our members are the bedrock of our success. The discussions laid down a comprehensive roadmap for a sustainable and prosperous future in the bi-county region.

As we step into 2024, I encourage everyone to engage actively with HIA-LI, contributing to the collective growth and prosperity of this beautiful region we all call home.

Innovating the Talent Pipeline: A New Dawn for Long Island’s Workforce Development

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Rich Humann, President & CEO at H2M architects + engineers, and an HIA-LI board member, moderated the panel.

The much-anticipated report, “Innovating the Talent Pipeline: Strategies for Workforce Development in the Long Island Innovation Park at Hauppauge,” was unveiled at HIA-LI’s “Workforce Development Conference and Scholarship Awards” event on October 13, 2023, at Farmingdale State College. This report is a testament to our commitment, as outlined in my June 5, 2023 blog post, to address the skills gap on Long Island.

The Long Island Innovation Park at Hauppauge (LI-IPH), the Northeast’s largest industrial park, is a beacon of regional economic strength, with over 1,300 companies and employing more than 55,000 workers. However, the challenge of a skilled workforce shortage looms large. This report, a collaborative effort between HIA-LI, the Suffolk County Industrial Development Agency (IDA), and the Workforce Development Institute (WDI), provides a roadmap to ensure the long-term resilience and competitiveness of the Long Island business sector.

James Lima Planning + Development, a renowned a New York City-based planning, real estate, and economic advisory firm, undertook the strategic analysis. Their comprehensive study, based on surveys from 34 Long Island employers, sheds light on the skills and talent needs of businesses, with a special focus on the LI-IPH.

The report’s findings are both insightful and actionable. It emphasizes the importance of:

  1. Access and Awareness: An island-wide campaign to promote resources such as adult English classes, career support, and job fairs.
  2. Strengthening Industry-Academia Partnerships: Encouraging project-based learning, AI tools, and best practices in the manufacturing sector.
  3. Promoting Intra- and Cross-Sector Collaborations: Highlighting best practices, foreign language support, and software training.
  4. Fostering a Learning and Advancement Culture: Championing mentorship initiatives and branded learning programs.
  5. Building Affordable and Attractive Communities: Advocating for workforce housing and transit-oriented development.

I’d like to extend my gratitude to the panelists and contributors who made this event and report possible. Their insights and expertise have been invaluable.

And of course, a special thanks to our partners in this effort: Kelly Murphy, Acting Executive Director of the Suffolk County IDA, and Robyn Fellrath, Long Island Regional Director at the Workforce Development Institute. We couldn’t have done this without their steadfast support.

Another highlight of the morning was the Scholarship Awards ceremony. This initiative is more than just financial assistance; it’s a commitment to the future of Long Island. By providing scholarships to high school graduates who choose to pursue their college studies here on Long Island, we’re not only investing in their education but also fostering a sense of community and continuity. It’s a clear message: we believe in the potential of our young minds and the promise they hold for our region’s future.

It’s also a testament to our dedication to keeping local talent local. By incentivizing our youth to study and subsequently work in the Nassau-Suffolk region, we’re ensuring a steady stream of skilled professionals who are familiar with the unique challenges and opportunities here on Long Island. These young individuals, equipped with local knowledge and a world-class education, will be the driving force behind Long Island’s continued economic growth and innovation.

In conclusion, as the President and CEO of HIA-LI, I am proud of this monumental step towards bridging the skills gap on Long Island. The recommendations in this report are not just words on paper; they are a call to action. Together, we can ensure a vibrant, resilient, and future-ready regional economy.

HIA-LI Business Achievement Awards: Celebrating Long Island’s Finest

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Photo caption (clockwise from upper left): Jeff Reingold, COO, Contract Pharmacal Corp., “Large Business” winner; Jay Demetriou, President, LGC Studios, “Small Business” winner; Billy Hatzichristos, Founder and Owner, Native Ceuticals, “Rookie of the Year” winner; special guest speaker Suffolk County Executive Steve Bellone; Jennifer Marks, Long Island Market Team Lead, JP Morgan Chase & Co., “Leadership” winner; and, Karen Boorshstein, CEO, Family Service League, “Not for Profit” winner.

The Business Achievement Awards – our very own “Academy Awards” event – holds a special place in my heart. We were at the Crest Hollow last week to shine a light on the amazing businesses and organizations that represent the essence of Long Island. Each of them, from varied industries, share a similar optimism about the future. Each one of them value and celebrate their people. And they all constantly innovate, showcasing a deep-seated commitment to the Long Island community at-large.

HIA-LI stands as one of the recognized voices for Long Island businesses, a powerful force in regional and economic development. As many of you know, our voice echoes beyond the bounds of this event. We advocate passionately the Nassau-Suffolk region and for the Long Island Innovation Park at Hauppauge (LI-IPH) with its impressive economic output of $13 billion. Yes, billion!

But none of that would be possible without our committed board members, our dedicated staff, and our invaluable volunteers. Every event, every initiative is a testament to their hard work.

Carol A. Allen, Board Chair of HIA-LI and CEO of People’s Alliance Federal Credit Union, has been one of those stalwart supporters. Reflecting on her two-decade association with HIA-LI, Carol remarked, “Seeing the growth and resilience of the businesses that make up our community has been inspiring. HIA-LI has become a significant force, thanks to the collaboration of our exceptional board members and the unwavering commitment of our organization’s staff and leadership.”

Speaking of commitment, I was filled with gratitude to introduce someone who’s been a tireless advocate for our community – Suffolk County Executive Steve Bellone. Elected in November 2011, Steve has been more than just an effective executive, he’s been someone who genuinely cares, not just for businesses but for every individual on Long Island.

Due to term limits, Steve’s tenure as County Executive is drawing to a close, but his impact will be felt for generations. Reflecting on his transformative initiatives, Steve shared, “The transformation of Ronkonkoma into a transportation and innovation hub, supported by state and federal investments, signifies a new era for Long Island’s economic future. The upcoming Long Island Convention Center symbolizes our region’s ambition and potential.” Beyond infrastructural projects, he has always emphasized the importance of unity in political progress, noting the invaluable lessons of, “collaborating across party lines.”

And talking about collaboration and leadership, in the corporate world, JP Morgan Chase & Co. stands out for its commitment to the community of Long Island. Jennifer Marks, their Long Island Market Team Lead, embodies this spirit. With 17 years at the firm, Jennifer, alongside her dedicated teams, has been at the forefront of ensuring JP Morgan Chase gives back. Their philanthropic initiatives and volunteer leadership groups have left an indelible mark on Long Island, from packing food with Island Harvest to supporting military veterans. Their efforts, driven by the goal of inclusive economic growth and community support, underscore why JP Morgan Chase was a very worthy recipient of the 2023 Leadership Award. We applaud them for their unwavering commitment to the bi-county region.

The spotlight also shined on the Large Business category. Contract Pharmacal Corporation (CPC), led by their Chief Operating Officer, Jeff Reingold, has been a stalwart in the Long Island business community since 1971. Known for producing high-quality pharmaceuticals, their footprint in the industry is unquestionable. With 12 facilities in the LI-IPH, and producing almost 15 billion units annually, CPC epitomizes dedication to quality and teamwork. Jeff’s emphasis on the family-like spirit of the company along with their commitment to innovation and responsibility resonates deeply.

In the Small Business category, winner Jay Demetriou, President of LGC Studios, graciously accepted the award for the company’s steadfast growth and notable accomplishments. Highlighting his 30-year journey with the firm, which was founded by his father Greg, Jay emphasized the collective efforts of the LGC Studios team. With exciting announcements in the offing, Jay asserted LGC Studios’ ambitions for the future.

Karen Boorshtein, CEO of the Family Service League, the winner for the second time in the Not-for-Profit category, spoke passionately about the organization’s crisis services, specifically Joe’s Project — a program initiated after the tragic loss of a staff member’s son to suicide. Karen celebrated her dedicated staff and highlighted their unwavering commitment to assisting those grappling with mental health issues. With a deep focus on early intervention and mental health support, Family Service League offers a lifeline to many, including through their 24/7 Crisis Stabilization Center.

In the Rookie of the Year category, winner Billy Hatzichristos, Founder and Owner of Native Ceuticals, was enthusiastic about the growth and success of his hemp CBD business. Stressing the holistic health benefits of hemp and CBD, Billy touched on the transformative effects these products have had on a variety of ailments. He urged the community to embrace alternative, natural treatments, and to support local businesses that foster community health and wellness.

It’s important to recognize business excellence on Long Island, especially in these times. Congratulations to all the award recipients and the immense impact they’ve made on the bi-county region. We look forward to witnessing the continued growth and success of these influential businesses and organizations.

Elevating the Innovation Park with 400 Flags

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From left, Smithtown Director of Traffic Safety Mitchell Crowley; Councilman Thomas Lohmann; HIA-LI CEO Terri Alessi-Miceli; Long Island Cares CEO and HIA-LI Board Member Paule Pachter; and, Smithtown Supervisor Ed Wehrheim.

When you’re a part of something as impactful as the Long Island Innovation Park at Hauppauge (LI-IPH), you often think about how to better tell its story. I’m excited to share that we’ve taken a significant step forward in doing just that. We recently installed over 400 flags on light poles throughout the park. But why, you might ask, is this such a big deal?

The Importance of Branding

First, let’s talk about the park itself. Spanning 1,400 acres and housing 1,350 businesses, the LI-IPH is a cornerstone of Long Island’s economy. It employs some 55,000 people and contributes an impressive $13 billion to the annual GDP. However, it became apparent through an Opportunity Analysis conducted a few years ago that despite being an economic powerhouse, we needed to do more to elevate its public profile.

The Flag Initiative

That’s where HIA-LI, the organization I’m proud to lead, stepped in, together with the wonderful support of the Town of Smithtown, whose highway workers installed the flags. We decided to give our park’s identity a bit of a facelift, starting with these flags. These aren’t just any flags; they’re a declaration of our space as an economic engine for Long Island. Businesses within the park even had the chance to purchase their own customized flags, which were snapped up swiftly.

What Lies Ahead

This may seem like a small step, but in the grand scheme of things, it’s a catalyst for future growth. The banners serve as a daily reminder to all who pass through that they’re part of something larger — an innovation hub that not only drives employment but also contributes significantly to the local economy. I firmly believe that reinforcing this identity lays the groundwork for new partnerships and greater achievements.

The park already has an excellent track record when it comes to generating net new dollars for the region, a fact pointed out by the Opportunity Analysis conducted by James Lima Planning + Development. We have an exceptionally high proportion of businesses that trade outside Long Island, multiplying our economic impact.

I must give a special shoutout to Paule Pachter, a valued member of the HIA-LI board and CEO of Long Island Cares, Inc., for suggesting this flag initiative. It’s these kinds of ideas that bring a community together and make it stronger.

In wrapping up, I see these 400-plus flags as a promise — of more to come, of greater things ahead, and of Long Island Innovation Park’s continued role as a linchpin in the economic vitality of our region.

Steering the Future: HIA-LI’s New Workforce Development Task Force

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As President and CEO of HIA-LI, one of Long Island’s foremost business advocacy organizations, I’m excited to share that we are launching a new Workforce Development Task Force. This initiative underscores our ongoing commitment to supporting businesses and strengthening the economic framework of the Long Island Innovation Park at Hauppauge (LI-IPH).

The LI-IPH is a significant player in our region’s economy, serving as the largest business park in the Northeast. With around 1,400 companies that employ approximately 55,000 workers, it forms a critical part of Long Island’s economic pulse. However, like many regions across the country, Long Island faces a significant challenge: a shortage of skilled workers. This issue is not just immediate; it also has implications for our region’s future growth and resilience.

To address this challenge, we’ve assembled a task force with two specific goals: align resources to meet business needs and spearhead efforts to recruit and develop talent for in-demand careers. Our task force is led by two respected individuals, Rich Humann, President and CEO of H2M Architects & Engineers, and Dr. Edward Bonahue, President of Suffolk County Community College. They will leverage their expertise to foster meaningful collaborations between businesses, educational institutions, and workforce development organizations.

We draw inspiration from successful ventures like Suffolk County Community College’s Solar Installer Certificate Program, a perfect example of mutually beneficial academia-business partnerships. By facilitating similar collaborations, we aim to ensure students are equipped with hands-on experience and businesses have access to a well-trained talent pool.

In the evolving post-Covid landscape, it’s crucial to forecast the skills businesses will need. To this end, the task force will commission an extensive “LI-IPH In-Demand Skills Assessment” in partnership with the Suffolk County Industrial Development Agency (Suffolk IDA) and executed by James Lima Planning, a renowned New York City-based consulting firm. This project is made possible by a grant from the Workforce Development Institute, with additional funding from HIA-LI and the Suffolk IDA. The results will guide academia in reshaping curricula to align better with the future needs of the region’s economy.

Our task force’s initiative resonates with a larger statewide initiative – a $350-million initiative announced last year by Governor Kathy Hochul – to improve workers’ skills to meet job demands. This wider program forms a crucial element of a strategic approach to workforce development in the region.

Given the rapid pace of technological advancements, anticipating the shape of future work is a priority. The task force is committed to helping local businesses understand and prepare for these changes. By creating synergies between businesses, academia, and governmental organizations, we aim to foster a more resilient economy, attuned to both immediate and future needs of Long Island’s workforce.

Smaller businesses often find predicting future skill requirements a daunting task. Thus, we’re tailoring our efforts to help these firms, providing assistance to navigate and prepare for future demands. We are aiming to equip these businesses with customized programs that meet their ever-evolving workforce needs.

In conclusion, the Workforce Development Task Force reflects our dedication to continually fostering the growth and development of Long Island’s workforce. We view this initiative as a strategic response to current challenges, ensuring a more vibrant, resilient, and future-ready regional economy.

Stay tuned for information about our fall Workforce Development Conference where the results of the “LI-IPH In-Demand Skills Assessment” will be presented and discussed.

Harnessing Innovation and Collaboration: The Key to Growth of the Long Island Economy

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The Executive Luncheon at HIA-LI’s 35th Annual Business Trade Show and Conference features projects of regional significance

Clockwise from upper left: Jimmy Coughlan, Jr., Vice President of Development at TRITEC Real Estate Company; Marc Herbst, Executive Director of the Long Island Contractors’ Association; Derek Trulson, Vice Chairman of JLL New York; and, Joe Campolo, Managing Partner at Campolo, Middleton & McCormick, LLP, and also an HIA-LI Board Member.

One of the necessities to the growth of the Long Island economy is the growth of innovative, transformative projects that not only create jobs but create places for our young professionals to live, work, and play.

That’s why the Executive Luncheon program at HIA-LI’s 35th Annual Business Trade Show and Conference featuring projects of regional significance should be on your calendar.

Our highly anticipated annual trade show – taking place on Thursday, May 25, from 9:00am to 3:00pm at the Suffolk Federal Credit Union Arena at Suffolk County Community College in Brentwood – is brought to you in partnership with our Title Sponsor, Sands New York. It’s a unique opportunity to network, learn, and collaborate with some of the most influential figures in our vibrant business community.

The Executive Luncheon, scheduled from 11:30am to 1:30pm, is designed to provide an insightful exploration of regionally significant Long Island projects that have the potential to substantially invigorate our local economy. The session will be moderated by Marc Herbst, Executive Director of the Long Island Contractors’ Association, a highly respected figure in the business community.

Our panelists include Derek Trulson, Vice Chairman of JLL New York; Jimmy Coughlan, Jr., Vice President of Development at TRITEC Real Estate Company; and Joe Campolo, Managing Partner at Campolo, Middleton & McCormick, LLP, who also serves as an HIA-LI Board Member. A representative from Sands New York will also be joining the panel, adding to the diversity and depth of the discussion.

One of the key projects to be discussed will be Midway Crossing. This transformative initiative has been declared a “Project of Regional Significance” by the Long Island Regional Planning Council, promising an estimated annual economic benefit of $3.3 billion. This includes increased wages, tourism, tax revenue, and more, all of which will significantly bolster the surrounding communities and have far-reaching impacts across Long Island and beyond.

We’ll also be discussing two TRITEC projects: Shoregate and Station Yards. With Bay Shore undergoing a revitalization that is rapidly gaining momentum, Shoregate is poised to bolster these efforts by fostering more “feet on the street” with 418 much-needed multifamily rental units within walking distance of Main Street and the LIRR. Station Yards, in Ronkonkoma, right across from the LIRR, will bring 1,450 new homes and 388 new apartments to the center of the island, plus 70,000 square feet of retail space and a village green of about 10,000 square feet. These are two of several live-work-play TRITEC communities that are attractive to our region’s young talent, helping us to keep them here on Long Island and build our future together.

Our Title Sponsor, Sands New York, has recently embarked on a journey to develop a $4 billion resort and possible casino at the Nassau Veterans Memorial Coliseum site. This ambitious project includes outdoor community spaces, world-class live performance venues, and a broad range of entertainment programming. Their involvement in our event brings an exciting dimension to the conversation.

And of course, we will be discussing new developments and future plans for the Long Island Innovation Park at Hauppauge, the largest business park in the northeast.

The main event, Long Island’s largest business-to-business trade show, will showcase over 250 exhibitors representing a diverse array of Long Island business sectors. Anticipated attendance exceeds 4,500 business professionals from Nassau and Suffolk counties and beyond, with three-quarters of these attendees being upper-management decision-makers. It has consistently demonstrated its incredible impact on regional businesses over the years. The power of in-person interaction facilitates valuable relationships, generating fresh business ideas and leads, sparking innovation. I am confident that this year will be no exception.

Pricing for the Executive Luncheon is $55 for members and $70 for non-members. Pre-registration is required – please call 631-543-5355 or visit www.hia-li.org. Pre-register for the trade show to avoid the $10 same-day walk-in fee. The day also features a morning motivational seminar by internationally renowned author and speaker Kevin L. McCrudden, available at $25 for members and $40 for non-members.

Despite challenges, many L.I. employers expect to boost hiring in 2023

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Moderator Michael Sabatini, a Partner with Citrin Cooperman, third from left, poses with panelists, from left: Renee Daniel Flager, Executive Director of Girls Inc. of Long Island; former HIA-LI Chair Rich Humann, President and CEO of H2M architects + engineers; MaryAnne Hyland, Dean of the Robert B. Willumstad School of Business at Adelphi University; Kevin O’Connor, CEO of Dime Community Bank; and Dr. Patrick O’Shaughnessy, President and CEO of Catholic Health Services.

While local business leaders grapple with such challenges as inflation, supply chain issues, and employee recruitment and retention, many still plan to increase the size of their workforces this year.

That’s a key finding of “The Long Island Economic Survey 2023,” a new survey of more than 200 Long Island executives. It was commissioned by HIA-LI and conducted by Adelphi University and the Citrin Cooperman accounting firm.

Survey results were discussed by a panel of leading regional executives on February 15 before more than 250 attendees at HIA-LI’s 29th Annual Business Summit held at the Hamlet Golf & Country Club in Commack. We were pleased to have Michael Sabatini, a Partner with Citrin Cooperman, moderate the panel.

Executives were asked to identify up to three of “the most important issues facing Long Island today.” Inflation and taxes were each cited by 22 percent of respondents. One-third identified workforce-related challenges as a top issue.

Yet despite their concerns over hiring and retention, virtually half of respondents (49 percent) expect to increase their employee rolls in 2023. Thirty-one percent of all respondents expects to augment their Long Island-based workforce, four percent will do more hiring outside of Long Island, and 14 percent plan to expand their workforce both on and outside Long Island. Forty-three percent anticipate no increase in staff size. Eight percent were unsure.

Some four out of ten were optimistic about their projected revenue and net profits next year, while half expected level growth. Ten percent expect a decline in revenues this year.

Similarly, more than a third (38 percent) of participants expected to expand their Long Island-based businesses in 2023.  

How concerned were local executives about the effects of inflation on their business? Most (62 percent) were “very concerned.” Thirty-one percent were “somewhat concerned,” and seven percent were “slightly concerned.”      

Sixty-five percent of respondents said they were affected by disruptions to the global supply chain. Most respondents expect supply chain issues to persist for another six months to two years.

Who took part in the survey?

A large majority of respondents represented businesses generating less than $100 million in revenue. More than three-quarters had been in operation 20 years or more. While respondents came from many industries, those with the largest representation were professional services (21 percent) and manufacturing, distribution and retail (17 percent). Most respondents (52 percent) were based in Suffolk County. Ten percent were situated in Nassau County, and 32 percent were based in both counties.

We were grateful for the participation of our panelists at the 29th Annual Business Summit: Kevin O’Connor, CEO of Dime Community Bank; Renee Daniel Flager, Executive Director of Girls Inc. of Long Island; former HIA-LI Chair Rich Humann, President and CEO of H2M architects + engineers; MaryAnne Hyland, Dean of the Robert B. Willumstad School of Business at Adelphi University; and Dr. Patrick O’Shaughnessy, President and CEO of Catholic Health Services.   

Newly elected Rep. Nick LaLota was also present to greet attendees.

How closely does your point of view match up with those reflected in our survey?

I urge you to see for yourself.

“The Long Island Economic Survey 2023” can be found here.

Water, Energy, Housing, and Infrastructure Top the List of Legislative Priorities for 2023

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From left: State Senator Mario Mattera; HIA-LI President & CEO Terri Alessi-Miceli; Congressman Nick LaLota; Smithtown Supervisor Ed Wehrheim; Assemblyman Mike Fitzpatrick; Islip Town Supervisor Angie Carpenter; Joe Campolo, HIA-LI Board Member and Partner, Campolo, Middleton & McCormick, LLP; and, Brookhaven Town Supervisor Ed Romaine.

It’s essential that our public policymakers have a proper grasp of the needs of the regional business community. And one of the most effective ways to achieve this is through hands-on, real-time interaction between government leaders and businesspeople as well as non-profit leadership.

Throughout the year, HIA-LI works hard to create opportunities for this kind of in-person interaction. And we hosted such an engagement earlier this month at our 45th Annual Meeting and Legislative Program. It was held January 13 at the Radisson Hotel in Hauppauge.

No less than eight elected officials from the federal, state, county and town levels were present at the breakfast forum, which was attended by some 300 people and was moderated by HIA-LI board member Joe Campolo, managing partner with Campolo Middleton & McCormick, LLP.

Water. Energy. Housing, Infrastructure. These were the topics many of our speakers returned to again and again. How can our officials shape policies that ensure a strong, long-term economic future for Nassau and Suffolk counties?

Let me offer a quick, thumbnail summary of some of the key points raised by each of our panelists:

Lt. Gov. Antonio Delgado was present via a video presentation. He highlighted the state’s investment strategy for Long Island, including Governor Kathy Hochul’s underwriting of a feasibility study to examine the possible relocation of the terminal at Long Island MacArthur Airport closer to the Ronkonkoma LIRR station. He also reinforced the value of the state’s investments in offshore wind energy. Mr. Delgado underscored the merits of the new State Office of Strategic Workforce Development he has set in motion along with the Governor. He also cited the administration’s efforts to expand housing development as a critical way to attract and retain a competitive regional employment base.

Suffolk County Executive Steve Bellone concentrated most of his remarks on the issue of water quality – and on the need to not only create a county wastewater district – but also to find the right way to fund it.

I also had the privilege of speaking at the event, where I had a chance to emphasize the massive economic impact of The Long Island Innovation Park at Hauppauge as we mark our momentous 45th anniversary in 2023. To help promote the Park’s growth, we’ll be initiating an ambitious branding program, including vanity flags and new signage. I also cited Circuit Transit’s battery-powered rideshare initiative that will create new commuting opportunities for the Park’s 55,000 employees.

Newly elected Congressman Nick LaLota spoke about the need for honesty and integrity in government, and also focused attention on two themes: economic growth and public safety.

State Senator Mario Mattera called upon policymakers to fight for “local jobs for local people.” The senator also advocated for a balanced energy policy, as well as for sewer systems that will “finally bring the Town of Smithtown into the 21st century.”

Assemblyman Mike Fitzpatrick expressed concerns over the ultimate costs associated with the Climate Action Council Scoping Plan recently adopted by state officials. He also agreed with the Governor that the state needs more housing. But he said that it shouldn’t be done at the expense of abandoning “local control.”

Town of Islip Supervisor Angie Carpenter urged government to “get out of the way and let businesses do what they do best.” Public officials should promote incentives – and use “carrots, not sticks.”

Town of Brookhaven Supervisor Ed Romaine urged business advocates to focus their attention on tax policy as a primary concern, inclusive of “real estate, sales, personal, and business taxes.” He also stated that “the one thing that will improve productivity in America is investing in infrastructure.”

Finally, Town of Smithtown Supervisor Ed Wehrheim echoed the same sentiment, asserting that investment in infrastructure is the key to “allowing Long Island to move forward.”

We are committed to working with everyone in the HIA-LI family to help secure a bright and promising future for our Park – and for Long Island.

Attend the 12th Annual ‘Women Leading the Way’ Panel on Friday, November 18 in Melville

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Women are an economic powerhouse for America, owning 10.1 million firms generating $1.9 trillion in sales and employing 13 million people.

Yet women face special challenges in reinforcing their business leadership. They must strike the right work/life balance, ensure their voices are heard, and carefully navigate their career paths.

On Friday morning, November 18, a panel of high-achieving Long Island businesswomen will explore such challenges at our 12th Annual “Women Leading the Way” Executive Leadership Program at the Hilton Long Island at 598 Broadhollow Road in Melville. We’d like you to be there with us.

Running from 8:00 am to 10:30 am, the panel will be moderated by Domenique Camacho-Moran, a Partner with Farrell Fritz PC. Invited panelists include Christine M. Riordan, President of Adelphi University; Anne Shybunko-Moore, CEO and Owner of GSE Dynamics and an HIA-LI board member; Andrea Principe, Director for the Northeast Division of Chase Business Banking; Theresa Sanders, President and CEO of the Urban League of Long Island; and Kristen Reynolds, President and CEO of Discover Long Island.

And while we’re on the topic, here are some recommendations for improving work/life balance:

First, working women should try to make space for self-care, says Lianna Bass, a New York City-based journalist, who suggests the following:

  • Eat healthy meals
  • Stay hydrated
  • Get enough sleep
  • Exercise regularly

A second set of recommendations come from the American Psychological Association. Among other suggestions, they recommend that working women “become more organized:”  

  • Create a structured but flexible schedule
  • Establish dedicated spaces for work versus play
  • Arrange task lists by priority, allowing for flexibility

And a third suggestion comes from a February 2021 New York Times column titled “Remember: What You Do is Not Who You Are.” It cites tips from Alison Green, founder of the advice blog Ask a Manager. She offered this recommendation for people struggling to separate work life and personal life: “start putting the boundaries in place.”

This could mean not answering your phone after your workday has ended, or not engaging with an email or text message while you’re taking a 15-minute mental health break during the day.

Often, Green says, “When people just start carving out those boundaries for themselves, they discover it’s fine. Nothing happens . . . no one even notices.”

The Executive Leadership event will include a craft fair. Contact Halle Grossman at hgrossman@hia-li.org for vendor opportunities.

For information about sponsorship opportunities, contact Anthony Forgione at aforgione@hia-li.org. Sponsors to date are: City National Bank, Custom Computer Specialists, Farrell Fritz PC, Island Harvest, Mark Grossman Public Relations, and People’s Alliance Federal Credit Union.

Tickets are $50 for HIA-LI members and $65 for non-members. To register, visit www.hia-li.org or call 631-543-5555.