The full report can be downloaded on this page of the Suffolk IDA website.
Report Says: Economic Potential of Hauppauge Industrial Park is Boundless
Opportunity Analysis demonstrates the Park is at the center of Long Island’s current and future economy.
Hauppauge, NY (April 24, 2019)—Today, Suffolk County Executive Steve Bellone, the Suffolk County Industrial Development Agency (Suffolk IDA), and Hauppauge Industrial Association of Long Island (HIA-LI) announced the release of the Hauppauge Industrial Park Opportunity Analysis. This analysis identifies opportunities to further anchor the Park to Long Island’s long-term economic revitalization by fostering the growth and agglomeration of competitive tradeable industries. The more than 160 page report found that the Park has the largest concentration of tradeable businesses on Long Island—20 percent above the national average—and in turn offers an unparalleled opportunity for Long Island-wide economic development.
“The Hauppauge Industrial Park is the cornerstone of Suffolk County’s economy, plain and simple,” said Suffolk County Executive Steve Bellone. “The Opportunity Analysis lays out achievable and substantial strategies for economic growth. This comprehensive roadmap provides our region with the building blocks needed to strengthen, expand and attract key industry clusters that will push our innovative economy to the next level.”
“As the largest business park in the Northeast, the Hauppauge Industrial Park today ranks as the unrivaled cornerstone of the Suffolk County economy,” said HIA-LI President and CEO Terri Alessi-Miceli. “Now, thanks to the five-part strategic plan set forth through our partnership with the Suffolk IDA, James Lima Planning + Development, and the Regional Plan Association, the Park is equipped to fulfill a growth scenario that will redouble its contributions to our regional economy.”
The Opportunity Analysis has determined five essential, high-level economic development strategies for the Park to grow and influence the entire Long Island economy: facilitate business growth; attract and retain skilled workers; strengthen training and workforce development; promote innovation and technology transfer; and connect businesses, governments and institutions. In addition to utilizing new economic strategies, achieving the Park’s regional vision will require broad collaboration and support. The Suffolk County IDA and HIA-LI plan to take lead in fostering partnerships with relevant institutions, major private sectors conglomerates and non-profits. The Opportunity Analysis also offers competitor analysis and assessment to provide differentiation, learning and collaboration opportunities.
“Since its conception, HIA-LI has continuously invested time, vision and planning in the Hauppauge Industrial Park, driving millions in tax ratables to our community and employing our residents,” said Smithtown Supervisor Ed Wehrheim. “The Report; a roadmap into our future, takes this investment to new and endless heights. Imagine neighboring businesses working together to capitalize on mutual growth, a think tank of business professionals working to help innovate local companies to the next level, the private sector working with public institutions to plan for alternative energy or create walkable communities for the next generation of great innovators to live and play. The possibilities are truly endless.”
“The Hauppauge Industrial Park plays a vital role in the economic development of Long Island. The strategies outlined in this analysis will prove essential in engendering partnerships that will continue to move our local economy forward for generations to come,” said Islip Town Supervisor Angie Carpenter.
The Hauppauge Industrial park is home to 55,000 employees and its $13 billion of annual output accounts for eight percent of Long Island’s Gross Domestic Product (GDP). Of the park’s total employment, 58 percent are located in tradeable sectors (exports of goods out of the region) which outperforms both the nation’s average of 36 percent and Long Island’s 23 percent considerably. To bolster this already impressive growth, key economic development stakeholders will be working to secure the resources and make the island-wide partnerships needed to see the plan come to fruition.
“Our firm is delighted to be supporting Suffolk County’s important work to identify strategic investments and actions that will spur the next generation of job growth and economic competitiveness for the county and its residents,” said James Lima, President of James Lima Planning + Development.
“While the Hauppauge Industrial Park already plays an essential role in powering the Long Island economy, it still has tremendous untapped value,” said Joe Campolo, Board Chair of HIA-LI and Managing Partner at Campolo, Middleton & McCormick, LLP in Ronkonkoma. “After analyzing a full spectrum of strategic options, we now have a viable, clear-eyed, long-term plan that will maximize the Park’s value for decades to come.”
“We are extremely proud of this report which takes a deep dive into the challenges and opportunities inherent in Long Island’s key economic generator, said Theresa Ward, Chair of the Suffolk County IDA Board of Directors. “The Hauppauge Industrial Park has been a significant hotbed for economic development and growth and this reimagining of the Park gets everyone involved in economic development in this region excited because the potential is so real and obtainable.”
About the Suffolk County Industrial Development Agency (IDA)
The Suffolk County Industrial Development Agency (IDA) is a public benefit corporation of the State of New York. The purpose of the agency is to promote economic development within Suffolk County. The operations of the agency are not supported by taxpayer funds, but rather fees generated by the applicants. The Suffolk County IDA works in synergy with Suffolk County Executive Steven Bellone and the Suffolk County Department of Economic Development and Planning to foster positive economic development within the County. For more information regarding the Suffolk County IDA log on to www.suffolkida.org.
HIA-LI helps Long Island businesses prosper. For over 40 years, HIA-LI has been one of the recognized voices for business on Long Island and a powerful force and economic engine for regional development, providing a forum for business leaders to network, problem solve, and obtain advice on critical issues facing their businesses. Member companies represent tens of thousands of business professionals. HIA-LI is headquartered in, and supports, one of the largest industrial parks in the United States with programs and events that promote strategic partnerships, targeted networking, information sharing, and business advocacy. Members benefit from committees, educational programs, career resources, research capabilities, mentoring opportunities, and business advisory services. For more information, visit http://hia-li.org or call 631-543-5355.
About James LIMA Planning + Development
James Lima Planning + Development are advisors and strategists specializing in the economics of placemaking. Their aim is to ensure the long-term success of urban investments and initiatives. With expertise in real estate services, urban planning, and economic development, they are leaders in solving complex planning and development challenges for public and private clients at every scale.
About Regional Plan Association (RPA)
The Regional Plan Association (RPA) is America’s most distinguished urban research and advocacy organization. RPA works to improve the prosperity, infrastructure, sustainability and quality of life of the New York-New Jersey-Connecticut metropolitan region. Some of the region’s most significant public works, economic development and open space projects have their roots in RPA ideas and initiatives, from the location of the George Washington Bridge to the revitalization of downtown Brooklyn, Stamford and Newark to the preservation of open space and development of parks in the Palisades, Governors Island and Gateway National Recreation Area.