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Mangano: IDA Created And Retained 4,905 Jobs Generating $2.6 Billion In Economic Impact In 2015

LongIsland.com

Nassau County Executive Edward P. Mangano and the Nassau County Industrial Development Agency (IDA) announced today that 2015 was another successful year for the IDA, which supported 15 projects with a total benefit of $2.6 ...

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2015 was another successful year for the IDA.

Photo by: Office of the Nassau County Executive.

Nassau County, NY - January 29, 2016 - Nassau County Executive Edward P. Mangano and the Nassau County Industrial Development Agency (IDA) announced today that 2015 was another successful year for the IDA, which supported 15 projects with a total benefit of $2.6 billion for the local economy.

The IDA projects – which included the Nassau Events Center, a new home for Publishers Clearing House, a new hotel, facilities for high-tech businesses and affordable transit-oriented apartments, among others – created or retained 4,905 permanent and construction jobs. The year-end results were announced at the Agency’s January 28th Board Meeting.

“My economic development team continues to pursue new employers and assist current companies with keeping their operations in Nassau County. The job-generating projects supported by the Nassau County IDA in 2015 will provide a significant boost to our local economy,” said County Executive Mangano.

Among the major projects receiving economic development compacts from the IDA in 2015 were the Nassau Events Center, which is replacing the aging Nassau Veterans Memorial Coliseum and will inject $1.97 billion into the county’s economy; Publishers Clearing House’s planned move to 300 Jericho Quadrangle with an impact of $136 million, Mineola Metro apartments at $131 million and Supreme Screw’s move from the Bronx to Plainview at $98 million.

Other projects approved for IDA economic development compacts included StorQuest in Westbury, Sunrise Honda’s move to Valley Stream, Public Storage in Hicksville, Cornerstone at Farmingdale apartments, LTG Regal (multiplex cinema) in Lynbrook, Roslyn O-S Hotel, (Hilton Garden Inn), HSRE-EB Lake Success (Bristal Assisted Living), Kim & Bae Trading in Port Washington, Nassau Candy in Hicksville and CMS Real Estate in Lynbrook. The 15 projects together will create 4,200 new jobs, help retain 705 jobs and build 396 rental-housing units.

About the Nassau County Industrial Development Agency
The Nassau County Industrial Development Agency consists of a team of professionals whose mission is to promote the economic welfare and prosperity of Nassau County. It is a resource for businesses in Nassau County and those considering relocation. The IDA provides assistance to businesses interested in relocating, expanding and financing new investments. It has provided assistance to a wide range of companies including Hain Celestial, Dealer Track Technologies and NY Community Bank as well as Cold Spring Harbor Labs and Grumman Studios. For more information, please click here or call (516) 571-1945.