The Babylon Industrial Development Agency (IDA) plays a central role in driving economic growth, job creation, and long-term investment throughout the Town of Babylon. Each year, IDA-supported projects strengthen the communities we serve by expanding the tax base, supporting local employers, and revitalizing commercial and industrial spaces across the town.
According to the New York State Comptroller’s 2025 Performance Report on IDAs, which reflects fiscal year 2023 data, the Babylon IDA oversaw 171 active projects valued at approximately $1.88 billion. These initiatives are projected to create 6,123 new jobs and support a net gain of 6,093 full-time equivalent positions across the town.
In 2023, jobs associated with Babylon IDA projects grew from 7,674 to 13,767—an increase that includes the retention of more than 5,000 jobs and the creation of thousands more. This sustained growth reflects the IDA’s commitment to supporting businesses at every stage of expansion, modernization, and reinvestment.
IDA-supported projects also contribute meaningfully to the town’s financial stability. In the most recent reporting year, these projects generated $24.45 million in Payments in Lieu of Taxes (PILOTs). These revenues help fund essential public services—such as schools, infrastructure, and public safety—ensuring that economic development delivers lasting, community-wide benefits.
This balance of targeted incentives and long-term tax revenue strengthens the town’s financial foundation and supports responsible, forward-looking growth.
Many Babylon IDA projects focus on modernizing aging facilities, upgrading equipment, and transforming underused commercial and industrial properties. These investments strengthen the town’s business corridors, improve local services, and enhance neighborhood vitality. The agency’s support helps ensure that major employers and local businesses alike can remain competitive and continue investing in the communities we serve.
The Babylon IDA works closely with employers, community organizations, and local partners to ensure that economic development leads to meaningful outcomes for residents.
By supporting projects that create permanent jobs and provide temporary construction employment, the Babylon IDA continues to play a pivotal role in shaping a strong, diversified, and sustainable economy.