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Mannix: How 812 projects infused $12 billion into LI economy

October 9, 2018
Long Island Business News

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The New York State Comptroller’s Office recently released its annual performance report on the State’s 109 Industrial Development Agencies (IDAs). The report details, among other things, the number of projects, tax abatements and job creation performance for all IDA projects active during 2016.

On behalf of, and in conjunction with, the heads of Long Island’s seven other IDAs, I’m pleased to say the comptroller’s report concluded that Long Island’s IDAs performed extremely well.

There were 812 projects being supported by Long Island IDAs in 2016. Combined, those 812 projects read more ››

D'Addario Foundation turns free music program into chamber orchestra

October 1, 2018
Newsday

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A program to help Copiague students learn string instruments that was about to fold is instead raising the bar.

The D’Addario Foundation since 2013 has been giving nearly two dozen Copiague elementary and middle school students free lessons on violin, viola and cello. Starting this month, the foundation is intensifying the program by forming the Ascenté Chamber Orchestra. The students will now be practicing in pairs instead of large groups and will perform more difficult pieces as an ensemble.

“It will be highly personalized and I can work toward their individual level,” said read more ››

Affordability crisis for home buyers

September 6, 2018
Newsday

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The statistics about home prices are alarming ["Price tags for homes in fat lane," News, Aug. 19].

In Suffolk County, new buyers will spend 56 percent of their average wage on a median-priced home, nearly double what the Department of Housing and Urban Development recommends. Additionally, young adults have seen a 22 percent drop in wages since 1970, hindering their ability to achieve the upward mobility possible in their parents' generation. Long Island is not facing an affordability gap; it is facing an affordability crisis.

Every year, Long Island loses $700 million in read more ››

Strober: Take steps now to prevent a demographic catastrophe

August 21, 2018
Long Island Business Development News

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We need access to a potent tool if Long Island is to protect its future: a simple state designation recognizing the economic power of multifamily rentals.

It has long been established that Long Island is in dire need of more affordable rental housing. Its merits are self-evident. The availability of more multifamily rental housing prevents the loss of young people – the brain drain – whose exodus to other parts of our tri-state region and the country undermines the economy, the viability of local businesses and our very future. Without access to an educated, dynamic workforce, there read more ››

LI developers say IDA ratings discourage affordable housing support

August 2, 2018
Newsday

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Local developers are calling for a change in how the state reviews housing projects that receive tax breaks from Industrial Development Agencies, saying the review criteria undermine the construction of affordable units.

The Association for a Better Long Island, which represents real estate developers, has requested that IDA-supported housing projects be judged on the number of units created, not the number of permanent jobs created and/or retained. The latter criteria have been used for years by state agencies to judge the effectiveness of IDAs.

Housing developments read more ››

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