Within the Town of Islip is an underutilized resource known as Foreign Trade Zone #52 (FTZ). In this designated area, import-export businesses with global dealings are at a competitive advantage when it comes to profitability and production flow, making the FTZ one of the most invaluable resources to business in the area.
When out-of-state bidders attempted to incentivize East/West Industries, a design and manufacturing company of escape, life support, seating and ground support equipment for high-performance military aircraft after they had outgrown their Hauppauge, NY headquarters, the Town of Islip Industrial Development Agency (IDA) stepped in with a business incentive package that the globally-recognized corporation couldn’t refuse.
Big convenience for business - on par with JFK & LGA. Business professionals know the phrase, “location, location, location” and it’s importance to building a thriving, successful business. But what about a particular location makes it more attractive? In the Town of Islip, there are a few gems in the area that are particularly beneficial to a variety of businesses, especially those in the aerospace industry interested in relocating or expanding to an area with the assistance of an IDA that has been credited by Newsday as one of the top IDAs in all of New York State.
You may be wondering, “what is an IDA?” An IDA, or industrial development agency, is created by the General Municipal Law and the Public Authorities Law to build economic development in specific locations. IDAs are public benefit corporations and therefore exempt from sales and use sales tax on their various purchases.
When considering corporate relocation, one of the most important things to research, beyond resources and infrastructure, is the quality of life a new location has to offer you and your employees. Work/life balance is increasingly one of the most influential factors of a company’s culture to recruiting top talent.
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