Inside Long Island Business
Get the latest news and trends on Long Island companies and the people behind them.
Kedrion cuts size of Melville expansion
A blood-products manufacturer has downsized a planned expansion of its Melville plant, officials said.
Kedrion BioPharma Inc. will construct an 18,000-square-foot addition to 155 Duryea Rd., instead of 48,000 square feet. The existing structure is 105,000 square feet.
The move reduces construction costs from $23 million to $7.5 million, according to Carl Nerlich, a consultant to the...
Read more »More aid for LI Industrial Management
The owners of 23 run-down office and industrial buildings in Suffolk County will get a larger sales-tax break because they plan to spend more money on renovations, officials said.
Long Island Industrial Management will save $1.5 million on sales tax for building materials and other purchases instead of $862,500, according to Anthony Manetta, executive director of the Suffolk County Industrial...
Read more »Solar company plans to employ 80 in Hauppauge
A California-based solar energy company has selected 923 Motor Pkwy. in Hauppauge for its Long Island operation.
SolarCity Corp. plans to open a regional office and warehouse by summer. The company specializes in the installation of solar power systems; it already has offices in Albany and in the Westchester County community of Elmsford. The public company expects to employ 80 people on Long...
Read more »New ads point NY homeowners to free foreclosure help
Photo credit: Charles Eckert, 2012
Struggling homeowners who face foreclosure should reach out for free legal assistance and counseling, State Attorney General Eric Schneiderman urged Thursday. The message is part of an advertising campaign Schneiderman announced to highlight the services available to people in danger of losing their homes.
Schneiderman launched the statewide $60 million Homeowners Protection Plan last year...
Read more »Cuomo asks credit bureaus not to slam Sandy victims for late payments
Photo credit: AP
Gov. Andrew Cuomo Thursday called upon credit bureaus to not penalize New Yorkers who were late in paying credit cards, mortgages and other bills because of superstorm Sandy.
“It would be a terrible injustice if a victim of Hurricane Sandy was unfairly penalized by a lower credit score,” Cuomo said during a news conference in Manhattan. “It would literally add insult to injury.”
Cuomo...
Read more »Advertising platform wins start-up pitch competition
Photo credit: Newsday / Lisa Du
An advertising sales platform, Sales & Orders Ads, won favor from judges and the audience at a start-up pitch competition Monday night.
Five early stage companies pitched their ideas at the event, held at LaunchPad Long Island -- a business incubator space in Mineola. During the competition, participants were given 10 minutes to pitch their ideas, and then took questions from a panel of...
Read more »Veeco shares jump after company says sales slump easing
Photo credit: Handout, 2010
Shares of Veeco Instruments Inc. rose sharply in early trading Tuesday after the Plainview-based technology manufacturer said its sales slump appeared to be waning.
Veeco's stock climbed 17 percent, to $37.79 per share, on news that the company expects sales orders for its equipment to manufacture LED lights to climb during April, May and June.
“We anticipate meaningfully higher bookings...
Read more »ClearVision Optical optimistic on Latin America biz
Photo credit: Handout
As a designer and distributor of eyewear with domestic and international business, Hauppuage-based ClearVision Optical has learned how to quickly ride the tides of global change.
"We’ve been selling international for over 25 years, and I think international -- more than domestic -- morphs and changes faster," said ClearVision executive vice president Peter Friedfeld. "Economic...
Read more »CA Technologies acquires two software makers
Photo credit: Kevin P. Coughlin, 2012
CA Technologies Monday said it was buying two smaller privately-held software makers, continuing its expansion beyond traditional mainframe computer programs.
The Islandia company, Long Island's largest by stock market value, has reached an agreement to acquire Layer 7 Technologies and has bought Nolio of Manhattan. CA did not release terms of either deal.
Layer 7, of Vancouver, British...
Read more »Stony Brook University receives $25G for entrepreneur program
Stony Brook University has received $25,000 as part of a series of State University of New York grants to build entrepreneur-in-residence programs.
A total of $120,000 in grants were awarded to 12 SUNY schools to aid them in bringing on the expertise of private-sector entrepreneurs to their respective campuses.
At Stony Brook, the grant will go toward creating a bio-entreprenur-in-residence...
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