At HIA-LI’s recent Economic Development Symposium, we welcomed a room full of business leaders, public officials, and visionaries who share a common belief: that Long Island’s economic future can—and must—be shaped intentionally, inclusively, and strategically.

The forum underscored what we already know to be true: sustainable economic growth doesn’t happen by chance. It’s built on a foundation of smart investments, bold leadership, and the willingness to rethink the systems we’ve inherited.

Building Livable Communities Through Collaboration

One consistent theme that emerged was the critical importance of collaboration between government and the private sector. Angie Carpenter, Supervisor of the Town of Islip, made it clear that responsible economic development must go hand-in-hand with quality-of-life investments. Her town is not only reimagining downtown Central Islip through a $10 million Downtown Revitalization Initiative but also leveraging the economic power of MacArthur Airport to create jobs and attract investment. With five airlines and 18 non-stop destinations—including new service from JetBlue and Avelo—Islip is proving that modern infrastructure is essential to regional vitality.

Economic Development with a Human Face

At the Suffolk County IDA, Kelly Murphy is driving investment that is both data-informed and community-centered. Her team helped generate over $214 million in payroll last year, through projects that didn’t just create jobs—they created careers. The IDA’s focus on “Long Island First” encourages companies to hire locally and reinvest in the region, from expanding manufacturers at the Long Island Innovation Park at Hauppauge to family-owned businesses like Casanova Meats. These aren’t abstract numbers; they’re direct investments in families, futures, and neighborhoods.

That focus on workforce development is aligned with the region’s recent progress. According to data recently announced by Governor Kathy Hochul, Long Island added 91,000 non-farm jobs between 2020 and 2024—an impressive 7.1% increase. Healthcare led the way with more than 24,000 new positions, while construction rose 10%, creating over 8,000 jobs. Even more encouraging: unemployment dropped from 4.5% to 3.8%, a signal that targeted investments are paying off across the board.

Solving the Housing Crisis: A Prerequisite for Economic Growth

No conversation about Long Island’s future can avoid the issue of housing. Jimmy Coughlan, Executive Vice President at TRITEC Real Estate, laid out the stark reality: of counties in the U.S. with a population of at least 1.5 million, Suffolk County is the second largest by area and by population, but dead last nationwide in new housing starts. Nassau County, right next door, doesn’t fare much better. Both counties lag behind high-growth regions like Charlotte, Nashville, and Raleigh—places that have embraced new development to attract and retain talent.

The consequences here are clear: young professionals are being priced out, businesses can’t attract the workforce they need, and our region’s growth potential is being constrained. The housing market, like any market, is a function of supply and demand—and on Long Island, we’re simply not producing enough supply.

But Coughlan didn’t come with just problems—he brought solutions. Smart growth. Transit-oriented development. Streamlined approvals. Flexible affordability mandates that make projects financially viable. TRITEC’s work in Bay Shore and Ronkonkoma proves that when developers and local governments work together, vibrant communities follow.

A Model for Regional Growth: The Long Island Innovation Park

In the Town of Smithtown, Supervisor Ed Wehrheim has made the Long Island Innovation Park at Hauppauge a centerpiece of his economic development agenda. The park now supports over 55,000 jobs, contributes $13 billion in economic output, and houses leading companies in sectors like aerospace, biopharma, IT, and advanced manufacturing.

Wehrheim’s vision for a “live, work, play” district—with mixed-use zoning, modern infrastructure, and expanded sewer capacity—is already attracting the younger workforce Long Island needs to stay competitive. His town’s track record—AAA bond rating, zero fiscal stress, thriving downtowns—is a model for how proactive leadership fuels prosperity.

A Call to Action

At HIA-LI, we believe in the power of partnerships. What we heard at this year’s Economic Development Symposium wasn’t just a list of projects or statistics—it was a blueprint for how to move forward as a region. It starts with embracing innovation, investing in infrastructure, building housing for every generation, and supporting the businesses that power our economy.

Long Island’s future isn’t written yet. But with bold thinking and shared purpose, we’re well on our way to building it—together.