The public sector stands ready to provide immediate financial assistance to help Long Island companies achieve their goals and fulfill their workforce needs.
HIA-LI works closely with officials at all levels of government to bring these resources to the attention of our members and to help members take advantage of a wide range of public-sector assistance programs.
Recently, I had the pleasure of speaking with three government officials whose agencies have an outstanding track record of success in providing financial support to local businesses. They are:
- Cara Longworth, Regional Director, Empire State Development
- Rosalie Drago, Commissioner, Suffolk County Department of Labor
- Kelly Murphy, Deputy Executive Director, Suffolk County Industrial Development Agency
These three entities are true partners of Long Island business. Let’s take a quick look at what each has to offer:
Empire State Development isthe state’s main arm for economic development. It encourages business growth and investment, job growth, and a diversified economy through loans, grants, tax credits, marketing, minority/women-owned business support, workforce development, technical support, export assistance, COVID support, and other business-friendly tools.
Long Island’s Regional Economic Development Council channels State resources pursuant to a regional strategic plan. And to make the process highly efficient, Cara’s office uses a “Consolidated Funding Application.” It enables businesses to tap into multiple sources of funds through a single application
The Suffolk County Department of Labor supports business growth through recruitment services and hiring incentives, and also with economic and labor market data. The department serves workers directly through job training, job development, placement, and supportive services.
While Empire State Development can provide funding for businesses to create jobs, the County Labor Department’s key role is to draw talent to companies and to get them ready for work.
Rosalie wants to hear from business about gaps in the workforce. Her agency’s funds are then used to train the talent pool. She works with local training providers – including local colleges and trade schools – to train existing workers and the emerging workforce for available jobs.
The Suffolk County Industrial Development Agency serves the entire county except the towns of Brookhaven, Islip, Riverhead, and Babylon, which have their own IDAs. Suffolk IDA promotes and attracts job and recreational opportunities. It targets companies wishing to remain or expand in Suffolk, or to move into the county. The types of industries the IDA generally helps are in manufacturing, distribution, R&D, and warehousing in addition to energy projects and multifamily housing.
Kelly’s agency, which often enhances its aid packages with incentives from PSEG and National Grid, offers three main forms of assistance: reductions in the mortgage recording tax, sales tax exemptions, and property tax exemptions.
And here’s their contact information:
Empire State Development (ESD)
Cara Longworth, Regional Director
Suffolk County Industrial Development Agency (IDA)
Kelly Murphy, Deputy Executive Director
I urge HIA-LI members and all local businesses to learn about the financing and services these agencies offer and to contact them. They really want you to hear from you!
Folks, this is “money on the table” that will help your business succeed. Take advantage of it!