Jul 02, 2021

Report: LI’s IDAs created 47,000 jobs, the most in New York State

Building under construction

Long Island’s industrial development agencies have created the most jobs in New York State — for the fifth year in a row, according to a new report.

The office of state Comptroller Thomas P. DiNapoli found 47,012 people had been hired as of Dec. 31, 2019, by businesses, housing developments, and other projects that were awarded tax breaks by Long Island’s eight IDAs. That’s 24% of the 199,982 jobs created statewide by IDA projects.

After the Island, IDAs in New York City and the Hudson Valley created the most jobs, 40,482 and 31,722, respectively.

Locally, Suffolk County IDA projects hired the most people, 14,394, followed by Nassau County IDA projects with 12,822. The two trailed only the New York City IDA in terms of job creation.

The comptroller calculated the “net jobs gained” at each project by comparing its 2019 employment with that for the year before the project got IDA help.

Read more at Newsday…