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Suffolk IDA negotiating $40,000 marketing deal with new biz accelerator
The Suffolk County Industrial Development Agency is negotiating a $40,000 marketing deal with one of its project applicants.
The arrangement would give the IDA greater exposure to technology startups, which it seeks to aid with the new Boost program of tax breaks, said executive director Anthony Manetta.
The IDA would have workspace in a new business accelerator on Main Street in Huntington Village. The agency also would be given signage, participation in events and publicity over a three- or four-year period.
Entreprenuer Tyler Roye and three partners in GroupGifting.com are developing the business accelerator. “The IDA will be omnipresent there,” Roye said this week. “You will be plugged in directly to all the startup activity on the Island.”
Manetta and Roye announced the marketing arrangement minutes after the IDA Thursday unanimously approved $140,016 in tax breaks for the accelerator over five years.
IDA chairman Paul J. Tonna lauded the arrangement as “a great additional opportunity,” adding the $40,000 would come out of the agency’s recently-approved $400,000 advertising budget.