Feb 20, 2020

Busy Suffolk IDA Eyes Jobs In New Incentives Packages


Take a breath, Suffolk County IDA!

It’s already been a busy 2020 for the jobs-focused Industrial Development Agency, which continued to build pro-employment momentum this week with fresh tax-incentive deals promising hundreds of temporary construction jobs in the short term and the creation/retention of hundreds of full-time positions later.

Just weeks after greenlighting tax breaks for the developers of Destination KP – a tourism magnet billed as “the largest privately owned mixed-use sports and medical community in the tri-state area” – the IDA has preliminarily approved an incentives deal for Kravet Inc., a leading global home-furnishings distributor relocating its headquarters from Bethpage to Melville.

Separately, the IDA has taken similar steps on an assistance package for Huntington Village Hotel Partners, an LLC looking to renovate the historic Huntington Town Hall on Main Street and construct a 53,636-square-foot addition, resulting in a new, 80-room boutique hotel.

Both of the new incentives deals – each receiving only preliminary nods so far, and still requiring final IDA approvals – were made with jobs in mind, noted Suffolk IDA Executive Director Tony Catapano. Read the full article here…