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Long IslandData

Government aid for Long Island's economy

Government aid to the regional economy comes in two forms, tax breaks from local industrial development agencies, which amounted to $153 million in 2017, or grants, loans and tax breaks from Empire State Development in Albany, which gave $15 million in 2017, the most recent year for which figures are available. Here is the breakdown:

IDA tax breaks in 2017

Businesses on Long Island saved $153 million in 2017 because of tax breaks awarded by eight county or town industrial development agencies. Click the arrows to see three charts, and select any bar for details.

Details on the IDA tax breaks

And you can read more about the debate over tax breaks for businesses here.)

IDA2017 Total Tax Savings*2017 Jobs Gained2017 Tax Savings Per Job
Glen Cove$4,723,696 197$23,978
Hempstead$43,790,056 3,729$11,743
Nassau$49,240,512 8,658$5,687
Babylon$11,870,104 6,010$1,975
Brookhaven$12,355,574 4,892$2,526
Islip$16,319,616 3,115$5,239
Riverhead$2,839,020 1,200$2,366
Suffolk$11,966,546 15,836$756
   Total$153,105,124 43,637$3,509

IDA2017 No. of Active Projects2017 Tax Savings Per Project*
Glen Cove9$526,750

*Figures are for one year. Tax savings are awarded for multiple years.

Source: Industrial Development Agency filings to New York State

State support for LI companies

Empire State Development, the state's primary business-aid agency, allocated more than $15 million in state tax credits, grants and loans on Long Island through 19 programs in the 12 months that ended March 31, 2018. Figures are the amounts disbursed in 2017-18, not the total amount awarded.

Source: 2018 Annual Report of Empire State Development

Details on the state aid

ProgramAdditional DescriptionTotalProjects
Regional Economic Development Councils Capital Fund Grants for building projects$5,200,000 5
Centers for Advanced Technology Business incubators$2,391,353 3
Restore NY Grants to local governments$1,750,000 1
Transformative Economic Development Programs Grants for downstate building projects$1,500,000 1
Innovation Economy Matching Grants Help in applying for federal research dollars$1,250,000 3
Excelsior Jobs Program Tax credits for expanding companies$694,820 9
Dedicated Capital Project Funding Money for building projects$521,000 2
Tourism Promotion Matching Grants $414,482 1
Economic Development Fund $401,714 3
Market NY Support for tourism destinations$311,802 3
Entrepreneurial Assistance Program Training for small business owners$219,621 6
Craft Beverage Marketing Program Advertising for beer and liquor makers$106,801 1
Start-Up NY Tax credits for new technology businesses on college campuses$102,080 11
Misc. Community and Local Development Projects $91,344 1
Community Development Financial Institution Program Microloans to small businesses who don't qualify for conventional financing$60,110 3
Misc. Marketing Projects $48,834 3
Urban and Community Development Program  $25,000 1
Economic Development Purposes Fund  $21,478 1
Office of New Americans Training for immigrant entrepreneurs $1,500 1
   TotalAll 19 programs$15,111,939 59


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