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News

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 ››

Business Financing Panel Discussion

July 25, 2018

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The Babylon IDA is hosting a business financing panel discussion to inform Town of Babylon business owners of the various tools and programs available to help their businesses succeed and expand. With esteemed panelists ready to speak about their expertise and experiences, attendees will learn more about the financial programs made available to them and have an opportunity to ask questions.

WHERE - East Farmingdale Firehouse
930 Conklin Street, Farmingdale NY 11735

WHEN - Wednesday, July 25th
8:00am - 10:00am

To RSVP, please contact Joe Ninomaya at read more ››

Ensuring Your Legacy Succession Planning and Worker Ownership

July 16, 2018

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Town of Babylon IDA and Long Island Progressive Coalition Present:

ENSURING YOUR LEGACY SUCCESSION PLANNING AND WORKER OWNERSHIP

On Long Island 47% of small business owners will be retiring in the next ten years.
Only 10% of these businesses will be passed onto their family.
75% of business owners regret selling their business a year after the transfer occurs or worse the business closes.
JOIN US TO LEARN MORE: MONDAY JULY 23RD @ 6:30PM OLD BABYLON TOWN HALL 47 W MAIN ST, BABYLON, NY 11702 read more ››

Babylon IDA Awards Scholarships to 11 Local Students for Their Pursuit of Technical Education

June 29, 2018

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Babylon, NY (June 28, 2018) – The Babylon Industrial Development Agency (IDA) recently awarded its annual scholarships to 11 graduating high school students who are looking to further their technical education. The students, who all live in the Town of Babylon, were awarded with a $500 scholarship to help cover education expenses as they continue their academic careers. Members of the Babylon IDA Board as well as Town of Babylon Councilwoman Jackie Gordon, Town Clerk Gerry Compitello and Receiver of Taxes Corinne DiSomma attended the ceremony and congratulated the students on their read more ››

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Babylon IDA
47 West Main Street - Suite 3
Babylon, NY 11702
Tel: 631-587-3679
info@babylonida.org