Economic Development Overview

Policy Issues

Economic Development

Economic Development Overview

Economic Development on Long Island

Economic Development on Long Island has slowed down in recent years. Suffolk and Nassau County have given many tax breaks and incentives to new and old businesses looking to move here, but they still cannot compete with other states in the United States.

The cost of living on Long Island is also much higher than many other urban and sub-urban areas. Long Island also suffers from a “brain drain effect”. Many children who grew up and received their education on Long Island move to other areas of the country because they cannot afford to live here. There have been some recent economic developmental projects on Long Island like the new outlet mall being built in Deer Park.

The housing market is also affecting the Long Island economy. The growing number of failing real estate markets and related businesses including home improvement and financial services are putting a great deal of stress on the local economy. The unemployment rate on Long Island has increased as has the number of closed businesses. There has been a movement towards smart growth with Suffolk County adopting a belief of smart growth. With this any new development project will now have to look at many factors before deciding to build a new mall or commercial complex. The smart growth policy also applies to residential growth.

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Economic Development News

Bishop Announces Overturn Of FEMA Denial - July 13, 2010

On Saturday, Congressman Tim Bishop announced that the Federal Emergency Management Agency (FEMA) has reversed its decision to deny federal aid for the March 29-30 storm that devastated areas of Suffolk County, clearing a path for more than $6 million in additional federal aid to reimburse local government agencies for their response to erosion and flooding.

County Executive Steve Levy Joins with Republican Suffolk Senators in Call to Restore Economic Development Incentives - June 27, 2010

Suffolk Executive Steve Levy today joined with the county’s Republican state senators to call on Albany lawmakers to restore and expand economic development incentive programs the lawmakers say have worked in preserving and creating jobs in Suffolk County.

Bishop Effort Successful In Stopping BP Dividend Payment - June 16, 2010

Congressman Tim Bishop hailed the decision today by British Petroleum to suspend dividend payments in 2010 in response to a public demand from Congress. Last week, Bishop joined a coalition of 43 House Members in calling on BP to put their responsibility for the Gulf Oil Spill before shareholder payments.

Suffolk County Executive Levy Signs Measure Promoting Economic Development in Wyandanch - April 14, 2010

Wyandanch, NY – Seeking to promote economic development in Wyandanch, Suffolk County Executive Steve Levy this morning signed legislation he sponsored that will waive sewer connection fees for new residential, commercial or industrial development within that downtown corridor.

BISHOP: NEW LAW WILL CREATE AMERICAN JOBS THIS YEAR - March 18, 2010

Washington, DC – Today, Congressman Tim Bishop applauded the President for signing the bipartisan Hiring Incentives to Restore Employment (HIRE) Act into law. The HIRE Act will create hundreds of thousands of new small business and construction jobs this year, spur private sector hiring, and help rebuild our crumbling infrastructure. It is part of the larger Congressional agenda to create jobs and strengthen our economy.

BISHOP VOTES TO CREATE HUNDREDS OF THOUSANDS OF JOBS THIS YEAR - March 4, 2010

Washington, DC – Today, Congressman Tim Bishop voted to create hundreds of thousands of new small business and construction jobs this year. The bipartisan Hiring Incentives to Restore Employment (HIRE) Act is part of a larger Congressional agenda to create jobs and strengthen our economy. It includes $77.155 billion dollars of investments in surface transportation projects that will help rebuild our crumbling infrastructure.

Levy Introduces Legislation to Promote Economic Development in Wyandanch - February 22, 2010

Hauppauge, NY – Seeing to promote economic development in Wyandanch, Suffolk County Executive Steve Levy has filed legislation that would waive sewer connection fees for new residential, commercial or industrial development within that downtown corridor.

Levy: State’s Tax Imposed on IDAs Takes Funds Away from Economic Development - February 19, 2010

Suffolk County Executive Steve Levy said on February 19 that New York State’s “cost recovery tax” placed upon local Industrial Development Agencies (IDA) throughout the state is “counterproductive to the creation of jobs and the promotion of economic development” and announced the county will be joining statewide efforts to retract and repeal the fee.

County Executive Steve Levy Announces Preservation of 52-Acre DeLalio Sod Farm in Eastport - August 18, 2009

Suffolk Executive Steve Levy today announced approval of the purchase of development rights to 52 acres of farmland in Eastport. The County Legislature today approved the acquisition of the rights to DeLalio Sod Farm for $3.64 million; Levy said the county has received a $1.7 million grant from the New York State Agricultural and Farmland Protection Program to share in the purchase.

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