Benefits for Companies currently in Suffolk County

The Suffolk County IDA wants you to keep calling Suffolk County home. We are here to help you maintain your current operations, or for business expansion needs.

The IDA can provide cost effective incentives for you.

Breakdown of IDA benefits for retention and expansion projects in Suffolk:
  1. Property Taxes – Multiple programs to ease your property taxes
    Reduce, Freeze or Abate Taxes
    5, 10, 12, 15 and 20 years in length
  2. Sales Tax – Ability to eliminate sales tax on project materials and new equipment
  3. Mortgage Tax – Waiving of the mortgage tax on your project
  4. Bond Financing or Lease Transactions.

Case Study:

GSE Dynamics is a Hauppauge based defense manufacturer.  The company has 40 employees with deep roots in Long Island. Faced with the prospect of aggressive expansion out of state, GSE knew that the skill level of their employees could not be matched.  GSE came to the IDA for support. We crafted an incentives package that not only kept them manufacturing locally, but worked with them to develop a job growth component. Measuring the work force’s talents, GSE’s love for the Island, and their positive impact on the local economy, they decided to expand right here, in Long Island. IDA was able to help GSE purchase a building at a very competitive cost. You can read a recent media article here on the project.

Contact us to see how we can help. Please fill out this online form, or call the Suffolk IDA’s Executive Director Tony Catapano at 631-853-4802.