Everyone knows the importance of teamwork when it comes to getting things done. In this spirit, I’d like to devote this blog to recognizing one of HIA-LI’s most valued partners, the Suffolk County Industrial Development Agency (IDA).
Across the state, IDAs support business growth, relocation, and expansion by lowering the cost of capital investment. They offer tax incentives – and provide access to various business resources and technical assistance opportunities.
And we’re fortunate to have one of the state’s highest-performing IDA’s right here in Suffolk County.
According to Newsday’s report on an analysis by the State Comptroller, tax incentives provided through Long Island’s industrial development agencies – for four years running – had helped to create more jobs as of 2018 than IDAs in any of the state’s nine other regions.
And here on the Island, the largest number of new jobs – 12,881 – were created by 137 projects supported by the Suffolk County IDA.
HIA-LI regularly works cooperatively with the Suffolk IDA to help fortify the regional economy and trigger employment growth. For example, we collaborated with the Suffolk IDA in April 2019 on a 160-page Opportunity Analysis that helped us identify ways to better link the future success of the Long Island Innovation Park at Hauppauge (LI-IPH) to Long Island’s long-term economic revitalization.
In the Opportunity Analysis, James Lima Planning + Development and the Regional Plan Association concluded that the Park’s future success would be maximized by nurturing the growth and agglomeration of competitive, tradeable industries.
Among other projects, we’ve also joined forces with the Suffolk County IDA and the Long Island Regional Planning Council to advocate for creation of a new, regional workforce development center, possibly situated within the LI-IPH. The center would match its training curricula to the specific workforce needs of our region’s fastest-growing businesses.
The public sector and the private sector need to work cooperatively to help maintain the strength of our local economy. Along these lines, HIA-LI is proud of the successful, long-term partnership we’ve enjoyed with the Suffolk County IDA.
Under the leadership of Chairperson Natalie Wright and Executive Director Anthony Catapano, the Suffolk IDA has been a steadfast partner in promoting job growth and business growth on Long Island. And I’d be remiss if I didn’t mention the unwavering efforts of the Suffolk IDA’s Deputy Executive Director Kelly Morris and former Associate Director John McNally who, with their hard work and dedication, helped to make it all happen.
I hope you’ll stand with me in applauding the Suffolk IDA on its many accomplishments. We look forward to working with them on future joint initiatives.