Jul 21, 2020

Long Island’s IDAs lead the state in job creation, report finds

By James T. Madore

james.madore@newsday.com

Tax breaks from Long Island’s industrial development agencies helped to create more jobs as of 2018 than IDAs in any of the state’s other nine regions – for the fourth year in a row, according to a report released Monday.

In its annual review of IDAs, the office of state Comptroller Thomas P. DiNapoli found 45,873 people had been hired locally as of Dec. 31, 2018 by businesses, housing developments and other projects backed by the Island’s eight IDAs. That represents nearly 26% of the 179,057 jobs created statewide by IDA projects.

After the Island, IDAs in the Hudson Valley and New York City created the most jobs, 31,126 and 29,598, respectively

Locally, Suffolk IDA projects had the lowest tax incentives per job, $901, while the Glen Cove IDA had the highest, $43,646, a Newsday analysis of the numbers shows. Read more at Newsday…