Trade Show Proves We’re Back to Business!

No matter the industry or the business sector – and no matter whether you’re a for-profit or not-for-profit enterprise – there’s nothing like real-world, face-to-face networking to help reinforce existing relationships and develop new relationships.

More than 2,000 participants walked the floor at the HIA-LI 34th Annual Business Trade Show and Conference on May 26.

And that leads to new business!

We were all reminded of these basic truths on May 26 at our 34th Annual Business Trade Show and Conference at Suffolk Community College in Brentwood. More than 2,000 business executives joined us to interact with more than 150 exhibitors representing just about every industry sector on Long Island: technology, energy and environment, manufacturing, finance, hospitality, healthcare, media and advertising, education, government, workforce development, and more.

The event began with a sold-out, all-star breakfast panel moderated by Marc Herbst of the Long Island Contractors’ Association. Panelists included Scott Burman of Engel Burman, Joe Campolo of Campolo Middleton & McCormick, Jim Coughlan of TRITEC, and Richard Zapolski of Cameron Engineering.

The panel zeroed in on one of the most exciting and ambitious projects taking shape on Long Island today: Midway Crossing in Ronkonkoma.

The $2.8-billion, public/private project would create a transportation-oriented hub comprised of 1.4 million square feet of office space geared toward bio-tech, research, healthcare and STEM education. It would also include a convention center with a 108,000-square-foot exhibit hall, a 30,000-square-foot ballroom, and 20,000 square feet of meeting rooms.

Plans for Midway Crossing also encompass a 300-room hotel, 250,000 square feet of retail and restaurant space, and a new, 300,000-square-foot terminal at Islip MacArthur Airport that would connect to the Ronkonkoma LIRR station.

Panelists agreed that Midway Crossing stands to be a transformational project for the Long Island economy, generating thousands of jobs and helping to better integrate Long Island’s transportation infrastructure on a big-picture basis – and for the long term.

Making Midway Crossing a reality is going to require energetic advocacy on the part of the Long Island business community, and HIA-LI – a long-time supporter of Islip’s Long Island MacArthur Airport – plans to play an active part.

Other projects discussed include growth at the Long Island Innovation Park at Hauppauge, the Ronkonkoma Hub, downtown Bay Shore, and downtown Long Beach – all vital projects that give young professionals options to live, work, and play on Long Island.

Why is this important? Because studies show that 67 percent of young adults ages 18 to 35 and looking to leave Long Island within the next five years. And by 2025 – just three short years from now – 75 percent of our workforce will need to be young professionals.  These projects are critical to stop the brain drain that’s on the horizon.

Also, for the first time, our Trade Show featured a dedicated Manufacturing Pavilion focused on specific issues and challenges facing manufacturers.

And how do we know it was a success? We asked exhibitors, sponsors, and attendees to complete surveys that would allow us to quantify their level of satisfaction with the event. And, on a scale of one to ten, respondents gave the Trade Show a robust ranking of 8.5.

Thank you to everyone who helped contribute to the success of our 34th Annual Business Trade Show and Conference. Let’s keep the momentum going!

Despite Challenges, the Long Island and National Economies Are Set to Grow

It was wonderful to be back in person at the HIA-LI Economic Summit. On March 25, business leaders, colleagues, and friends joined us at the Radisson in Hauppauge for our 28th Annual Summit, where a panel of experts offered their economic predictions for Long Island and the country.

Dr. Don Levy, Director at Sienna College Research Institute, summarized the results of the PKF O’Connor Davies 2022 Economic Survey. Among the 270 CEOs who participated, 59 percent said that the economy on Long Island was better than it was a year ago, and 61 percent expected improvement during 2022. Within their industries, 50 percent described conditions as more favorable than they were last year, and 56 percent anticipated an upswing in 2022. Normalized against historic data, these four results indicate a confidence rating of 6.8 out of 10, up from 6.5 a year ago.

Challenges include the continuing impact of COVID (cited by 55 percent of CEOs), inflation (53 percent), and rising supplier costs (43 percent). Worker supply is another: “Only one out of five say that they can find the people they need to step in and make a fruitful contribution right away,” remarked Levy.

Bob Quarte, a Partner at PKF O’Connor Davies who is also HIA-LI Board Treasurer, moderated the panel discussion. Noting the challenges that have arisen since the completion of the survey in early January — the war in Ukraine, a stock market correction, rising interest rates, and spiraling gas prices — he asked the panelists to describe their confidence in the economy and in their business sectors.

“As businesses get busier, healthcare gets busier,” stated Dr. Patrick O’Shaughnessy, President and CEO of Catholic Health Services. “I don’t just mean sick care. I mean well care, and that includes important screenings, keeping you healthy, getting ahead of you having a problem that causes more of an impact. I believe we’re moving forward in the right direction. That doesn’t mean we’re not going to have blips along the way, but I’m optimistic.”

Rich Humann, President and CEO of H2M Architects + Engineers and HIA-LI Board Chair, said that despite the national energy strategy that “continues to tip on a scale,” he is also optimistic. “As we recover, the commitment to infrastructure, the commitment to dollars, is coming from the federal government. Although there’s clearly an inflationary effect of that, nothing moves us in a strong economic direction more than a really robust investment in infrastructure.”

The national economy will do well in the long term, predicted Kevin O’Connor, CEO of Dime Community Bank and HIA-LI Board Secretary, but it will experience blips in the short term. “The Fed’s ability to navigate a soft landing does not have a lot of historical success. We may feel some pain that might be necessary to end some of the inflationary pressures.”

Dr. Edward Bonahue, President of Suffolk County Community College and an HIA-LI Board Member, declared that he’s “remarkably optimistic” despite the difficulties created by the pandemic. “We know that our ability to engage students, to provide hands-on workforce training that replicates the conditions that students are going to find when they’re on the job, is going to be supported by the continuing economic recovery, and the continuing recovery from COVID.”

“Things go in cycles,” added Quarte, summing up the panelists’ perspectives. “We might be in a difficult cycle right now, but we’ve proved we’ve always pulled through it.”

Download a copy of the survey here.

Cusack to be Special Guest at February 8 Fireside Chat

Clare Cusack, President and CEO of the New York Bankers Association, will be featured at HIA-LI’s February 8 “Executive Insight – Fireside Chat” at the Hilton Long Island in Melville.

It’s time for the women of Long Island to fulfill our untapped potential as business leaders – and we have an event coming up on February 8 that will provide insights into how women can get ahead in business.

HIA-LI is committed to the advancement of female executives in Long Island. We launched a Women’s Initiative in 2010 to help us focus our energies on this goal.

The numbers are encouraging. The census bureau had calculated that the number of women-owned businesses nationwide increased 21 percent between 2014 and 2019, while the number of all businesses overall increased by only nine percent.

And it can’t be denied that women in business are a major economic engine. According to a  2019 report from American Express, more than ten million women-owned firms in America were generating $1.9 trillion in sales, while employing 13 million people.

But females often confront hurdles in striking the right work-life balance. We often need to look harder to obtain the right kind of mentoring. And the pandemic further complicated women’s pathways to business success.

OK, so what’s coming up on February 8?

That’s the day we’ll have a chance to hear from one of New York State’s most influential woman business leaders, Clare Cusack.

On Tuesday, February 8 at 3 pm, we’ll be hosting Clare Cusack, President and CEO of the New York Bankers Association (NYBA), as our featured guest at an “Executive Insight – Fireside Chat” event at the Hilton Long Island at 598 Broadhollow Road in Melville.

Ms. Cusack’s presentation will be moderated by Kevin O’Connor, CEO of Dime Community Bank and a member of HIA-LI’s board of directors.

Clare Cusack is the first female to lead the NYBA, the premier trade association for the banking industry in New York.   

Clare Cusack and Kevin O’Connor will discuss one of the most challenging and transformative periods in the banking industry. We expect them to tackle such topics as the interest rate outlook, fintech, the remote workplace, and the economic development impact of the financial services sector.

But in addition to banking topics, we’ll be asking Ms. Cusack about her status as one the Empire State’s most prominent female business executives. Did she face challenges because of her gender? Can she offer advice to up-and-coming businesswomen?

Founded in 1894, the NYBA is the state’s preeminent provider of legislative and regulatory services to a unified banking industry. It also provides educational programs, public relations, political action, and member services geared to enhance the profitability and stature of New York’s banking industry. NYBA members together employ nearly 200,000 New Yorkers, hold $2 trillion in deposits, and extend nearly $70 billion in home and small business loans.

HIA-LI members and non-members may click here to register for the event. Companies wishing to sponsor the event can contact Anthony Forgione at aforgione@hia-li.org or call 631-543-5355.

Come and hear a true business luminary – and one of our state’s most accomplished female executives!

Women to Talk Business at Friday’s Executive Leadership Event

Women are steadily increasing their ranks among business leaders overall.

Yet despite growing numbers, female entrepreneurs still face challenges in the corporate workplace.

They confront hurdles in striking the right work-life balance. They often need to look harder to obtain the right kind of mentoring. And the pandemic further complicated women’s pathways to business success.

What are the solutions? What best practices can we point to? And how does this all play out on Long Island?

This Friday morning, November 19, we’ll have an opportunity to get some answers.

A panel of high-achieving Long Island businesswomen will talk through issues like this at HIA-LI’s 11th Annual “Women Leading the Way” executive leadership event. It takes place at the LGBT Network at 125 Kennedy Drive, Suite 100 in Hauppauge. 

The panel, running from 8:00 am to 10:00 am, will be moderated by Domenique Camacho-Moran, a Partner with Farrell Fritz PC. Panelists include Lisa Mirabile, President and CEO of Vertigo Media Group; Karen Boorshtein, President and CEO of Family Service League; Lauren Nichols, President of 3G Warehouse, Inc.; and Natalie Wright, Suffolk County’s Commissioner of Economic Development and Planning.

Happily, the numbers for women executives are encouraging. Looking at census bureau data, the number of women-owned businesses nationwide increased 21 percent between 2014 and 2019, while all businesses increased nine percent. More than ten million women-owned firms generated $1.9 trillion in sales and employed 13 million people.

The idea that HIA-LI should host an annual forum to tackle woman-centered business issues was originally suggested by U.S. Senator Kirsten Gillibrand in 2010.

“Women Leading the Way” also features a craft fair.

Attendees may take part in person or via Zoom. The registration fee is $50 for in-person attendance, and $25 for virtual participation.

Vendors wishing to exhibit at the craft fair should contact HIA-LI at 631-543-5355.

The event is sponsored by Farrell Fritz, PC; People’s Alliance Federal Credit Union; Campolo, Middleton McCormick, LLP; Brookhaven National Laboratory; the LGBT Network; Signwave; City National Bank; LITimes.org; Mark Grossman Public Relations; WSHU Public Radio; and IHOP. For sponsorship opportunities, contact Anthony Forgione at aforgione@hia-li.org.

Per CDC guidelines, those not fully vaccinated will be required to wear a face mask.

To register, go to https://www.hia-li.org/events/hia-lis-11th-annual-womens-leadership-program/ or call 631-543-5355. I look forward to seeing you then!

Action By HIA-LI Members Helps Secure Long Island’s Future

Amid the doldrums of the COVID-19 pandemic, HIA-LI members have good reason to pat themselves on the back this year.

Why? Because our organization’s members played a central role in advocating for a public policy victory that will serve, according to Newsday, as a “building block for our region’s future.”

That victory occurred in August, when the Smithtown Town Board voted unanimously to greenlight a “zoning overlay” allowing mixed-used development at the 1,650-acre Long Island Innovation Park in Hauppauge (LI-IPH), formerly known as Hauppauge Industrial Park. The idea for a “zoning overlay” had arisen from a 160-page strategic analysis issued in April 2019. The analysis, commissioned by HIA-LI in cooperation with the Suffolk IDA and others, had enumerated ways to strengthen the Park’s future.

The Town’s decision came in the aftermath of an organized campaign – undertaken by HIA-LI members and many others – to help educate Board members regarding the merits of the change.

Thanks to new development opportunities made possible through the revised zoning rules­­­, one of Long Island’s most respected real estate developers, TRITEC of East Setauket, stepped forward in November and proposed to build a $125-million, mixed-use building with 335 apartments in the Park. The venue would be a development parcel at 49 Wireless Boulevard that TRITEC owns through a subsidiary. The “zoning overlay” opens the door for similar mixed-use projects at twelve other Park sites.

Long Island municipalities like the Town of Smithtown are recognizing the need to take bold steps to promote regional economic development and to help stem the hemorrhaging of young workers from Nassau and Suffolk. 

The Town – under the leadership of Supervisor Ed Wehrheim – understands that mixed-use development like this represents a “building block” for creating a better tomorrow for our area. Such measures boost our economic competitiveness by supporting workforce attraction and retention. In July 2019, a Rauch Foundation survey conducted for Newsday found that 67 percent of Long Islanders aged 18 to 34 years planned to leave the region within five years.

Can you imagine? Such an exodus would seriously disable the Long Island economy and make it highly difficult for Park employers to hire and keep a skilled workforce.

In a November 29 editorial, Newsday called the new Smithtown policy “a prime example of what’s possible” when Long Island municipalities act creatively to re-envision our region’s future.

So, bravo to the members of HIA-LI for helping to create a new model for fortifying Long Island’s long-term competitiveness.  And a special thanks to our LI-IPH Task Force, headed by HIA-LI Board Chair Joe Campolo, Managing Partner at Campolo, Middleton & McCormick, LLP.

Read the complete Newsday editorial here.

HONORING THE BEST IN BUSINESS

Every fall, HIA-LI takes a moment to recognize our region’s truly outstanding businesses.

We’ve done it for 26 years by honoring “the best in the business” on Long Island through our “Business Achievement Awards” program – and HIA-LI presented our most-recent set of awards again on September 29.

The COVID-19 pandemic forced us to conduct our awards event virtually – but the pandemic also required awardees and finalists to work harder at many levels this year. They’ve had to dig in, be creative, and do more to inspire their workforce. Being at the top of your game in a year like 2020 requires something special!

The honors, awarded competitively, cover four categories. Nominees were evaluated based on the quality of their employee relations, regional business engagement, profitability, and vision for their future. Other considerations included recent accomplishments, innovative processes, market growth, industry leadership, and their ability to overcome adversity.

Let’s look at the recipients:

The “Large Business” awardee was Hauppauge-based American Diagnostic Corporation, one of America’s largest, privately held manufacturers of diagnostic medical equipment. Other category finalists included: Citrin Cooperman of Melville; Custom Computer Specialists in Hauppauge; Mazars USA, LLP of Woodbury; and The Tiffen Company of Hauppauge. The three Hauppauge-based firms are located in the Long Island Innovation Park at Hauppauge (LI-IPH).

The “Small Business” honoree was Central Business Systems, a Melville provider of document imaging and other IT-related services. Other “Small Business” finalists included Valley Stream-based LMN Printing Company, Inc.; Summit Safety & Efficiency Solutions in Miller Place; Techworks Consulting Inc. in Ronkonkoma; and Terwilliger & Bartone Properties of Farmingdale.

Selected as “Rookie of the Year” – for firms in business for less than five years – was Hauppauge-based Connections4Hire, an LI-IPH company that provides business development and marketing-related services. Category finalists included 4G Professionals in Nesconset; and BLUZAP UV Disinfection Company of Northport.   

The “Not-for-Profit” honoree was the Guide Dog Foundation for the Blind located in Smithtown. Category finalists included Blessings in a Backpack of Yaphank; Family and Children’s Association in Mineola; Islandia-based Pal-O-Mine Equestrian; and Habitat for Humanity of Suffolk of Middle Island.

HIA-LI also presented a special “Industry Leadership Award” to Northwell Health, the state’s largest private employer. We recognized the U.S. Small Business Administration with an “Industry Partnership Award” for providing over a half-billion dollars in emergency financial relief to American businesses during the pandemic. We also honored Amneal Pharmaceuticals, one of America’s leading generic pharmacological companies and “Major Sponsor” of the overall HIA-LI Business Achievement Award program.

Leadership and business excellence shine through during tough times like this. These winners deserve credit for setting such great examples in the midst of a national pandemic.

Please join me – and Joe Campolo, Board Chair of HIA-LI – in congratulating them!

# # #

Celebrating Long Island Businesses and Embracing Opportunities

One of HIA-LI’s primary missions, as most of you know, is to advocate for the growth and sustainability of the Long Island Innovation Park at Hauppauge (LI-IHP), formerly the Hauppauge Industrial Park.

With the Park in mind, I’m pleased to share this upbeat progress report.

Some context: The Park’s enormous economic potential

The HIA-LI cooperated with the Suffolk County Industrial Development Agency, the Regional Plan Association, Stony Brook University, and the Town of Smithtown to produce a 160-page “Economic Impact Study and Opportunity Analysis” that reported on the Park’s remarkable magnitude and impact and set forth a vision for further growth.

With 1,300 companies employing 55,000 people, LI-IPH is, amazingly, America’s second-largest industrial park. Delivering $4 billion in annual payroll and $14 billion in overall economic output, the Park accounts for one in twenty Long Island jobs.

58 percent of park tenants fall into the essential “tradeable” category: their exports and services bring new net dollars into the region. This figure contrasts with only 23 percent Island-wide and 36 percent nationally. LI-IPH’s wisest strategy is to help nurture and build out these competitive tradeable industries.

HIA-LI is advancing strategies for attracting the necessary facilities, amenities, talent pool, and knowledge base for further firm clustering – and we’re working to elevate the Park’s brand as Long Island’s premier hub for growing businesses.

Sign up for upcoming virtual events

To help shine a spotlight on the businesses at the LI-IPH, HIA-LI is hosting several virtual events. During these difficult times, we’ve waived attendance fees for these events:

  • Tradable Sectors and How They Impact the Long Island Economy
    Monday, September 14. 9:00am – 10:30am. Click here to register
  • Long Island Innovation Park at Hauppauge Update: Current and Future Growth
    Tuesday, September 22. 9:00am – 10:30am. Click here to register
  • HIA-LI Business Achievement Awards
    Tuesday, September 29. Networking at 11:00am. Event at 12:00pm. Click here to register
  • HIA-LI Annual Trade Show & Conference
    Wednesday, October 7 and Thursday, October 8. Attendees can click on virtual exhibit booths to schedule live appointments, “walk” the floor, and more.  Click here to register 

Workforce housing is coming to the Park  

To attract a competitive workforce, communities must offer housing for young professionals. To help fulfill the vision set forth in the “Opportunity Analysis” cited above, the Town of Smithtown recently and laudably voted to create a “zoning overlay” district within the Park, allowing for multi-use development, including workforce housing. The Town acted in response to advocacy by HIA-LI and other business and civic interests.

Providing health and safety education for the Park’s workforce 

As you may be aware, many production workers employed in the Park come from communities experiencing high rates of COVID-19. In many instances, workers would benefit by obtaining disease prevention information in their places of work. 

To make this happen, HIA-LI is coordinating with the Suffolk County Department of Labor to introduce workplace-based, COVID-focused health education programming. To learn more, contact: Angela.Ramos@suffolkcountyny.gov

We’re working to help create a workforce training center

In conjunction with the Long Island Regional Planning Council and the Suffolk IDA, HIA-LI is pursuing creation of a regional workforce training center to help businesses at the LI-IPH and elsewhere fill skills gaps among their employees. While the center’s location and syllabus are yet to be determined, its establishment stands to help boost the profitability of LI-IPH firms.

HIA-LI won an international marketing award

A 30-second video promoting the LIIPH has won an internationally recognized Telly Award, which honors achievement in the non-broadcast video industry. Watch the video at www.LI-IPH.org

HIA-LI delivers masks for member businesses

HIA-LI recently teamed up with Governor Andrew Cuomo and Suffolk County Executive Steve Bellone to distribute thousands of reusable masks for use by employees of firms at the LI-IPH and elsewhere across Long Island.  

Become a member

If your company isn’t currently an HIA-LI member, we’d love you to join! We offer vital, real-time information to help your business through this recovery – and to let the business community know you’re open for business. Contact Anthony Forgione at (631) 543-5355 or aforgione@hia-li.org to learn more.

During these unprecedented times, it’s more critical than ever to celebrate Long Island business – and to embrace opportunities to help us connect and do business.

Please join us!

Federal Funds Needed to Stimulate Economy and Close Covid-19 Counties Budget Gap

With great enthusiasm, HIA-LI has supported and thanked the thousands of valiant healthcare workers who do so much to maintain our health. But, as a business organization, our primary focus is on the pandemic’s economic impact.

ECONOMIC STIMULUS PACKAGE text with notepad, keyboard, decorative vase, fountain pen, calculator and banknotes currency on wooden background

The COVID-19 pandemic pulls at Long Islanders in two major ways: it affects our health, and it affects our economy.

That’s why we need the federal government to step up – to be a true partner in our economic recovery. Here’s how Suffolk County Executive Steve Bellone describes the potential economic impact:

“It’s the equivalent of a Category 5 hurricane striking us here. Except, in this case, the hurricane stays for months, instead of passing in 24 hours.”

He was characterizing the concerning data found in an economic analysis titled “2020 Nassau + Suffolk Covid-19 Economic Impact” co-sponsored by the Nassau County IDA and Suffolk County IDA with input from HIA-LI, Hofstra University, and the Association for a Better Long Island. It was written by the strategic advisory firm, HR&A.

The report concluded that Long Island could lose up to 28 percent of our region’s jobs by year’s end because of the coronavirus and subsequent economic shutdown.

As Newsday reported, “the estimated net loss of up to 375,000 jobs stems from businesses never reopening, and from many of those that do reopen not being able to recall all the workers…laid off or furloughed.”

And that’s why HIA-LI has joined forces with Mr. Bellone, his Nassau County counterpart, Laura Curran, and other influential business leaders to call upon our federal representatives to request $2 billion in direct funding to Nassau and Suffolk counties in the next federal relief bill.

With severe losses in tax revenues associated with the spread of COVID-19, the two counties together face a near $3 billion budget gap. That’s just a fraction of the $61 billion dip in economic business activity the report cites.

For Long Island businesses to stay strong and continue to work hard to reshape and reinvent our organizations, local government needs to have the resources to continue to support our efforts.

The business sector knows that many vital services depend upon our economic health. Sales taxes, for example, fund first responders, police officers, and public health nurses. Hotel taxes help fund our tourism promotion agency, Discover Long Island, an essential player in our region’s economic recovery. Only by working together – hand-in-hand with fiscally stable and strong county governments – can we position ourselves for a true recovery.

HIA-LI urges you to contact your Senators and House Members right away. Tell them that Nassau and Suffolk counties need federal disaster assistance in order to help the business community recover from this pandemic.

Name

Phone

Send a Message

Sen. Charles Schumer

(202) 224-6542

https://www.schumer.senate.gov/contact/email-chuck

Sen. Kirsten Gillibrand

(202) 224-4451

https://www.gillibrand.senate.gov/contact/email-me

Rep. Lee Zeldin

(202) 225-3826

https://zeldin.house.gov/contact/

Rep. Peter King

(202) 225-7896

https://peteking.house.gov/contact

Rep. Thomas Suozzi

(202) 225-3335

https://suozzi.house.gov/contact

Rep. Kathleen Rice

(202) 225-5516

https://kathleenrice.house.gov/contact

Rep. Gregory Meeks

(202) 225-3461

https://meeks.house.gov/contact

Despite Slip, AVZ Survey Says Long Island Economy Is Still Strong

AVZ Economic Summit
Moderator Robert Quarte, Managing Partner, AVZ & Company, P.C., and panelists, from left: Jim Coughlan, Principal, TRITEC Real Estate Co., Inc.; Janine Logan, Sr. Director, Communications & Population Health, Nassau-Suffolk Hospital Council; Rich Humann, President and CEO, H2M Architects + Engineers; Dr. John Nader, President, Farmingdale State College; and, Kevin O’Connor, President and CEO, BNB Bank.

Long Island business executives feel optimistic about the region’s economic future, as we explored at HIA-LI’s 26th Annual Economic Summit on February 12 at the Hyatt Regency in Hauppauge. HIA-LI sees this event as critical to helping our members interpret what’s going on here on Long Island.

Based on the annual survey conducted by AVZ & Company, one of Long Island’s largest accounting firms, confidence in the regional economy – which reached a survey record high of 7.2 in 2018 – stood at a healthy 6.8 by the end of 2019. Yet forty-six percent of respondents added employees last year, and 43 percent had “no problem” finding skilled workers.

With AVZ managing partner Bob Quarte keeping the discussion lively and interesting in his role as moderator, a five-member panel sustained the attention of over 250 guests as they delved into issues shaping our region’s economic future.

Jim Coughlan, principal of TRITEC Real Estate, praised IDAs for their powerful contributions to the success of large business development projects. But if State lawmakers begin requiring IDA-supported projects to pay “prevailing wages,” he cautioned, IDAs would lose much of their ability to promote growth.

Rich Humann, president and CEO of H2M Architects + Engineers, praised HIA-LI’s work in building bridges between the Long Island Innovation Park at Hauppauge (LI-IPH) and regional universities.

Looking big picture, Kevin O’Connor, president and CEO of BNB Bank, said there’s been an evolution in deal structures over the past fifteen years that should lessen the incidence of “crash and burn” economic cycles.

Janine Logan, Senior Director for Communications and Population Health with the Nassau-Suffolk Hospital Council, seemed unsurprised that the AVZ survey had ranked healthcare as the regional industry with the greatest growth potential.

Why? Well, nearly one-fifth of our population is age 65 or older, she said, and the top, predisposing factor for chronic disease is age.

Dr. John Nader, president of Farmingdale State College, told attendees that many people burdened with college debt had never received diplomas. Instead of two- or four-year degrees, he said that many jobs now call only for “micro-credentials” and certifications. That’s something for us to keep in mind as we develop a proposed LI-IPH workforce development center.

This year’s Economic Summit was stimulating and upbeat and once again served as a very important discussion on the pulse and future trends on Long Island.