Jimmy Coughlan

Fueling Long Island’s Future: A Blueprint for Smart, Sustainable Growth

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Photo caption: I was joined by (from left) Joe Campolo, Managing Partner, Campolo, Middleton & McCormick, LLP and HIA-LI Board Member; HIA-LI Board Chair, Standard Advisors Group CEO, and Babylon Town Councilman, Anthony Manetta; Islip Town Supervisor Angie Carpenter; Smithtown Supervisor Ed Wehrheim; Suffolk County IIDA Executive Director and CEO Kelly Murphy; and, TRITEC Real Estate Company Executive VP and Partner Jimmy Coughlan.

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.

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.