An Industrial Development Agency (IDA) can provide the boost businesses need. Those who ask “what is an IDA?” likely haven’t seen first-hand what these agencies can accomplish. Those who’ve worked with an Industrial Development Agency as a business partner know that the advantages far outweigh perceived notions on tax incentives for businesses.
Much as policy makers have avoided the total shutdown of the L-train, New Yorkers share mixed sentiments about Amazon’s decision to cancel plans to build its new headquarters in Long Island City, Queens. The project would have created 25,000 jobs and expected to generate $27.5 billion in tax revenue for the city over the next 25 years.
The Town of Islip was recently awarded a $10 million state grant and it’s being channeled toward various business expansion projects. The funds will be invested in a downtown revitalization project that Islip Town Supervisor Angie Carpenter said, could “put Central Islip on the map.”
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