SPOTLIGHT ON LONG ISLAND

Welcome to Long Island:

Long Island has emerged as one of the most desirable destinations in the country.

With unparalleled access to New York City, world-renowned beaches, charming downtowns and villages and a diverse talent pool from our nationally ranked public schools and universities, it’s no surprise that Long Island is the growing choice for corporate headquarters, innovative start-ups, entrepreneurs and families seeking urban amenities with a suburban lifestyle.

Long Island’s industries, including technology, aerospace, bioscience and manufacturing, are leading the nation in innovation and advancement.

However, what Long Islanders know is that it’s our quality of life, access to entertainment and culture, feeling of community and stunning beauty that keep our residents here for generations and that draw visitors from around the world.

With one of the most competitive real estate markets in the country, the secret is out that Long Island is the destination of choice for business, pleasure and lifestyle.

We invite you to discover Long Island and all that Nassau and Su olk Counties have to o er for your business, your family or your visit.

Sincerely,

Steve Bellone Laura Curran Su olk County Executive Nassau County Executive

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SPOTLIGHT on LONG ISLAND Front Street in Rockville Centre Downtown – Credit: Long Beach Film Institute Stagnant no more, Nassau County is building a new future

n the nation’s worst moment to determine what protocols and We give grants to municipalities who of isolation, Nassau County precautions were in place. do want transit-oriented development, Executive Laura Curran stayed and find other ways to support them. focused on bringing people “We focused on getting people back Slowly but surely we get stuff done.” Itogether to shape the county’s future. to work as quickly but as safely as we BRONX could,” she says. “We did not want to The county executive takes issue with In March 2020, as everyone was let fear completely keep society shut a recent New York Times editorial locking down, Curran created an down.” Nassau County, she notes as that took the county to task for its economic advisory panel that brought an aside, has a higher vaccination rate towns’ unwillingness to encourage together leaders from local chambers than the state and the national average multifamily housing, especially of commerce, the hospitality industry, for adults over 18, for senior citizens, affordable housing, either by changing NASSAU

labor and the nonprofit sector. African-Americans and Latinos. zoning and other policies or by MANHATTAN COUNTY with just the people who don’t want 39 acres in Syosset. Amazon will providing financial incentives for QUEENS “I wanted to have my ear to the Now that the pandemic is receding, developers. change.” cap the brownfield, which is an ground about what our businesses Curran wants to continue boosting the area contaminated by industrial here needed,” Curran says. county’s economy by bringing people “I was annoyed because the towns and Richard Kessel, chairman of the or commercial use, and ultimately “Throughout the pandemic I felt it together in other ways. “I think we’ve villages here are actually becoming county’s Industrial Development provide 200 union jobs. was really important to advocate for got a good story to tell,” she says. much less resistant to the idea,” Agency, agrees. “Ten years ago people businesses.” Curran says. “There is change afoot.” were not open to it at all, but more In the other project, the 6-acre BROOKLYN That story is built on transit-oriented and more people recognize that if they Superblock in Long Beach will The county created restaurant development and downtown Pioneers such as Farmingdale Mayor want downtowns to survive, we have become the site of hundreds of recovery grants of up to $10,000 that revitalization, which the county has Ralph Ekstrand, Curran says, took to have multifamily and affordable apartments and condominiums political heat when they pushed housing.” and retail space. It will bring new to build multifamily apartments, residents and an infusion of spending but their persistence paid off. “The With the pandemic showing signs of money to the area. “Ten years ago people were not open to it downtown there went from being ending, people once again are looking at all, but more and more people recognize a ghost town to being one of the to come together for major events. “Long Beach has been suffering hottest places to go, with bars and Nassau County is readying the brand- financially,” Kessel says, “and this will that if they want downtowns to survive, we restaurants.” new UBS Arena in Elmont that will be give them a shot in the arm.” home to the New York Islanders and Where residents are proud to live, have to have multifamily and affordable Mayors in Great Neck, Port major concerts. Some have questioned the tax breaks housing.” Washington and Rockville Centre offered in both projects. But Kessel where employees come to work, have followed suit. Curran says she “The fact that people are investing counters, “The county, the town thinks more towns and villages will $1.5 billion to build this signals that and the school district will all end - Richard Kessel, chairman of the county’s Industrial Development Agency try to replicate that success as a way to Nassau County is the place to be,” up making more money. And we and where everyone loves to play. grow their tax base. Curran says. “Keeping the Islanders are sending a signal to other large was a big deal for the economy and for companies that Nassau County is went to more than 300 eateries. More encouraged for years, even when “Young people want to live in a our self-respect.” business-friendly. I think there will be recently, Curran pushed for more state municipalities were not yet open to it. walkable downtown,” she says. a ripple effect.” money, and she has received federal “Slowly but surely local politicians The arena is just 10 miles from Nassau funds to help other small businesses in “We can only plant the seed and keep are getting the message. You still find Coliseum, but Curran is confident Curran is excited about one other downtowns and nonprofits. watering,” she says. “It’s still suburbia, some people who say they like the idea the two venues can be programmed major undertaking: sewage. “Sewage it’s still a car culture, but you make but don’t want it in their community. in complementary, not competitive, on this level is like sewage in your own In pushing for common-sense changes where you can. We work with But more and more people welcome ways. Both may eventually offer a look house—you take it for granted until reopenings, she visited gyms, malls, mayors and town supervisors who are it and are coming out to the meetings, that symbolizes the idea of bringing something goes wrong,” the county bowling alleys and movie theaters open to change. so the meetings are no longer filled people together in ways that help the executive says. Connect with us. economy. While the sewage is cleaned before The UBS Arena is part of a it goes anywhere, the effluent being Garden City Hotel with NYC in background - Credit: Garden City Hotel redevelopment of Belmont Park that discharged into the South Shore’s includes a retail village, a hotel and back bays and channels is filled with Nassau County, NY has one of the most compelling business ecosystems in the country, from a highly skilled and a new Long Island Rail Road station. nitrogen. Curran is working with state diverse workforce to our beautiful villages and vibrant downtowns, modern offi ce complexes, and unparalleled Meanwhile, Nassau Coliseum is and federal agencies to fund a project technology infrastructure. So, when your business expands here you’ll get far more than fi nancial incentives. You’ll gain an surrounded by more than 60 acres to divert sewage. of parking lots, but Curran says she unrivaled quality of life along with new perspectives and ideas to drive innovation and growth. remains bullish on a redevelopment The project would run the effluent plan for there that would generate 500 into a recently discovered and units of housing, high tech and health modernized aqueduct under Sunrise Contact Nassau County IDA CEO, Harry Coghlan at care office jobs, and entertainment Highway to a sewage treatment plant [email protected] to learn more. and retail outlets. that has a pipe long enough to diffuse the nitrogen into a much larger space “This has long been a symbol of farther out in the ocean. stagnation here, so we really want to get this done,” the county executive “This will rebuild the marshland, says. which provides storm surge protection, and it will help with Symbols of stagnation have begun marine life and with shellfishing,” to fall in the county. IDA Chairman Curran says. It will help provide Kessel is particularly excited about cleaner beaches, she adds. two major projects that came to fruition in the past year after decades The result, the county executive of going nowhere. says, will be an environmental and economic boon that boosts the South In the one IDA-approved project, Shore’s property values. Amazon will invest nearly $72 million to construct a more than “This is one of the biggest projects in 204,000-square-foot warehouse on my life,” she says. nassauida.org (516) 571-1945    linkedin.com/company/ncida S2 July 26, 2021 ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS

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NASSAU

MANHATTAN COUNTY 39 acres in Syosset. Amazon will QUEENS cap the brownfield, which is an area contaminated by industrial or commercial use, and ultimately provide 200 union jobs.

In the other project, the 6-acre BROOKLYN Superblock in Long Beach will become the site of hundreds of apartments and condominiums and retail space. It will bring new residents and an infusion of spending money to the area.

“Long Beach has been suffering financially,” Kessel says, “and this will give them a shot in the arm.” Where residents are proud to live, Some have questioned the tax breaks offered in both projects. But Kessel counters, “The county, the town where employees come to work, and the school district will all end up making more money. And we are sending a signal to other large and where everyone loves to play. companies that Nassau County is business-friendly. I think there will be a ripple effect.”

Curran is excited about one other major undertaking: sewage. “Sewage on this level is like sewage in your own house—you take it for granted until something goes wrong,” the county executive says. Connect with us. While the sewage is cleaned before it goes anywhere, the effluent being discharged into the South Shore’s back bays and channels is filled with Nassau County, NY has one of the most compelling business ecosystems in the country, from a highly skilled and nitrogen. Curran is working with state diverse workforce to our beautiful villages and vibrant downtowns, modern offi ce complexes, and unparalleled and federal agencies to fund a project technology infrastructure. So, when your business expands here you’ll get far more than fi nancial incentives. You’ll gain an to divert sewage. unrivaled quality of life along with new perspectives and ideas to drive innovation and growth. The project would run the effluent into a recently discovered and modernized aqueduct under Sunrise Contact Nassau County IDA CEO, Harry Coghlan at Highway to a sewage treatment plant [email protected] to learn more. that has a pipe long enough to diffuse the nitrogen into a much larger space farther out in the ocean.

“This will rebuild the marshland, which provides storm surge protection, and it will help with marine life and with shellfishing,” Curran says. It will help provide cleaner beaches, she adds.

The result, the county executive says, will be an environmental and economic boon that boosts the South Shore’s property values.

“This is one of the biggest projects in my life,” she says. nassauida.org (516) 571-1945    linkedin.com/company/ncida ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS

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In Suffolk County, it’s all about Ronkonkoma HUB connection . . . and change

n economic development Sandy.  e county executive  nds downtowns with transit-oriented policy built around the a lot to like in President Joe Biden’s development, which ties in with notion that “everything is American Rescue Plan. transit improvements. An aging connected” sounds geared demographic and drawing and Amore to a 1960s-style commune “We’ve made a ton of progress,” the retaining a new generation are major than modern-day suburbia, where county executive says. concerns, Bellone says. people live in splendid isolation. But in Su olk County it actually re ects A perfect example of the role  ese concerns make it crucial to a pragmatic approach to changing new infrastructure can play is the create vibrant downtowns, with retail, times. Brookhaven National Laboratory, restaurants and entertainment, as well which will become the home of the as o ces and multifamily housing “We have an economic development Electron-Ion Collider and draw near trains for easy commutes.  is plan called Connect Long Island,” scientists there. “ e lab needs new housing could give local empty says County Executive Steve Bellone, modern infrastructure,” Bellone says. nesters a place to live should they who developed the strategy on a To that end, he is working with the downsize. smaller scale when he was Babylon Long Island Rail Road and the town to supervisor and began emphasizing relocate an underused station so that “We spent decades on Long Island local governments and chambers is careful not to force things on any improved mass transit for struggling it is virtually at the lab’s door. separating things out, but we of commerce to support transit- town that is resistant. Instead, he says, communities. now recognize we were missing a oriented development and multifamily it works to involve communities from “We want to connect a global signi cant piece—there’s a desire housing. Her department supports the start of the planning process.  e countywide initiative aims institution to the innovation for connection, and building downtown revitalization with grants to provide sustainable growth for ecosystem in the region,” he says. out downtowns as centers of for pedestrian, lighting and facade “We would never come into a the region.  at means a focus on “ at’s what Connect Long Island is communities, improved property improvements and the like. community and say, ‘You need to infrastructure: transit-oriented all about.” values and the quality of life,” Bellone do these things,’” he says. “We say, development, including a ordable says. “We had to catch up to what  e biggest success in the e orts to ‘Regionally this will help us achieve housing; sewer and water quality Natalie Wright, commissioner of the the marketplace and young people recast and reconnect Su olk County prosperity and stability, and if you’re improvements; and a modern county’s Economic Development are telling us they want and need. is the Ronkonkoma Hub, a $700 interested we’ll make investments INNOVATION transportation system that links major and Planning Department, says We need to attract young people, million project on 53 acres.  e Hub here.’” research and educational institutions, transportation investments provide entrepreneurs and innovators.” has already opened 245 units and businesses and residents. opportunities to connect people. will ultimately add 1,450 residential In recent years, Republicans, especially is in our DNA For example, reimagining the bus Wright says a recent study found homes and more than 600,000 square former President Donald Trump, “We have incredible assets here,” system, Wright says, can “provide many young residents plan to leave feet of commercial space, generating have used racial dog whistles to try to Bellone says, “but what is holding us 10,000 construction jobs followed by turn the building of multifamily units, back from greater economic growth 2,500 permanent jobs. Phase two is especially a ordable housing, into a and prosperity is that we haven’t really “We have incredible assets here. But what expected to begin this year, adding 544 political weapon in suburbia. been leveraging them together.” is holding us back from greater economic residential units and 104,000 square Businesses Thrive in Suffolk County. feet of retail space. Wright says she hopes this issue will Connect Long Island has led to nearly growth and prosperity is that we haven’t become less political during the Biden 2,000 units of housing built or under But these shiny new buildings will years. To educate people, she uses construction in Su olk’s downtowns really been leveraging them together.” only thrive if people have access to studies that show multifamily housing as well as signi cant progress on - Steve Bellone, Su olk County Executive clean water. Bellone says water has, does not overburden school districts north-south Bus Rapid Transit routes, Innovation and forward-thinking government are the foundations driving Suffolk County’s naturally, always been central to life and that a ordable housing is for especially along Route 110, and major on the island, but now the climate nurses and electricians, among other economy and are the major reasons industry segment pioneers like Canon, Estee Lauder and investments in the Long Island Rail meaningful and lasting change.”  e Long Island because of a lack of crisis is changing the focus from blue-collar workers. Road, which include 13 miles of commissioner promotes bike-share housing, jobs and an appealing Marchon Eyewear located here. We are also home to: swimming, boating and  shing to new track between Farmingdale and programs and the just-launched ride- lifestyle. “Without them, we don’t protecting the water supplies. “ ese are your neighbors,” Wright Ronkonkoma. share pilot program that functions like have future homeowners, employees says. “We’re just trying to provide ■ Cutting edge research facilities like Brookhaven Labs and Cold Spring Harbor Laboratories UberPool. and business owners,” she says, “so “We’re not going to have an economic a diversity of housing solutions for Bellone praises Gov. Andrew Cuomo’s addressing the lifestyle in which ■ A high-tech, pharmaceutical and nutraceutical hub second only to Silicon Valley future here,” the county executive everyone that wants to live on Long infrastructure investments, which “We hope these other options can they want to live is important to the says, “if we don’t reverse decades Island.” ■ A small and medium size manufacturing hub, with over 3,000 manufacturing companies have helped with sewage projects and reduce reliance on [the] single- county. of decline in our water quality and expanded railroad capacity, and Sen. occupancy vehicle,” she says. ■ One of the nation’s most highly skilled workforce protect it going forward.” Bellone emphasizes transit-oriented Chuck Schumer’s role in delivering “We need to facilitate a work-live- development and downtown ■ Access and close proximity to the financial and business resources of New York City “signi cant funding” for the water Bellone extends the connection theme play environment,” adds Wright, Wright notes Su olk County is revitalization are “not about remaking and sewer projects a er Superstorm to the emphasis on redeveloping whose department works with heavily reliant on septic systems what we love about our single-family- Suffolk County also delivers an extraordinary quality of life. From our world class and cesspools, which makes home communities.” Rather, they are Patchogue Downtown funding modern sewer systems in about adding “great new things to beaches, golf courses and parks; to the charm and familiarity of our historic downtowns; downtown corridors a priority. At enhance them,” the county executive internationally acclaimed vineyards; and thousands of acres of preserved open space, Suffolk the Ronkonkoma Hub, the state says. recognized that sewer upgrades were offers something for everyone. essential and kicked in $55 million for Wright agrees, explaining that while the cause. her department’s mission involves growing and developing the county, it At the Suffolk County Industrial Development Agency, we want to be your company’s “Wastewater investment helps seeks to preserve the county. gateway to a thriving future. Our economic development professionals can: ignite revitalization,” Wright says, ■ Provide access to financial incentives, tax abatements and other financial resources to adding that she wants to make sure “ at means open-space preservation underserved communities get their and agricultural preservation lower relocation and/or expansion costs fair share on this front. “A lot of programs,” she says. Redeveloping ■ Expedite all local, regional, and state regulations and permitting development is constrained out here downtowns, where the land is already by wastewater issues. So every dollar in use, helps preserve natural areas, as ■ Serve as your conduit to local and regional resources such as workforce training, of wastewater investment is really a well as beaches and communities of supply chain vendors and new business channels multifold return, with environmental single-family homes, she explains. and economic and quality-of-life bene ts.” “We’re ready for change,” Wright says, “but we’re trying to do it in a With a population that has lived conscious way that balances the needs Contact our Executive Director Tony Catapano in Su olk County for years, it’s no of residents both young and old, those surprise that not everyone embraces that have been here and those that change. But Bellone says the county may want to come here.” or Deputy Executive Director Kelly Murphy. ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS S4 July 26, 2021 631-853-4802 | [email protected] WWW.SUFFOLKIDA.ORG

P017_022_CN_20210726.indd 20 7/22/21 9:19 AM is careful not to force things on any town that is resistant. Instead, he says, it works to involve communities from the start of the planning process.

“We would never come into a community and say, ‘You need to do these things,’” he says. “We say, ‘Regionally this will help us achieve prosperity and stability, and if you’re interested we’ll make investments INNOVATION here.’”

In recent years, Republicans, especially is in our DNA former President Donald Trump, have used racial dog whistles to try to turn the building of multifamily units, especially a ordable housing, into a political weapon in suburbia. Businesses Thrive in Suffolk County. Wright says she hopes this issue will become less political during the Biden years. To educate people, she uses studies that show multifamily housing does not overburden school districts Innovation and forward-thinking government are the foundations driving Suffolk County’s and that a ordable housing is for nurses and electricians, among other economy and are the major reasons industry segment pioneers like Canon, Estee Lauder and blue-collar workers. Marchon Eyewear located here. We are also home to:

“ ese are your neighbors,” Wright says. “We’re just trying to provide ■ Cutting edge research facilities like Brookhaven Labs and Cold Spring Harbor Laboratories a diversity of housing solutions for ■ A high-tech, pharmaceutical and nutraceutical hub second only to Silicon Valley everyone that wants to live on Long Island.” ■ A small and medium size manufacturing hub, with over 3,000 manufacturing companies ■ One of the nation’s most highly skilled workforce Bellone emphasizes transit-oriented ■ development and downtown Access and close proximity to the financial and business resources of New York City revitalization are “not about remaking what we love about our single-family- Suffolk County also delivers an extraordinary quality of life. From our world class home communities.” Rather, they are about adding “great new things to beaches, golf courses and parks; to the charm and familiarity of our historic downtowns; enhance them,” the county executive internationally acclaimed vineyards; and thousands of acres of preserved open space, Suffolk says. offers something for everyone. Wright agrees, explaining that while her department’s mission involves growing and developing the county, it At the Suffolk County Industrial Development Agency, we want to be your company’s seeks to preserve the county. gateway to a thriving future. Our economic development professionals can: ■ Provide access to financial incentives, tax abatements and other financial resources to “ at means open-space preservation and agricultural preservation lower relocation and/or expansion costs programs,” she says. Redeveloping ■ Expedite all local, regional, and state regulations and permitting downtowns, where the land is already in use, helps preserve natural areas, as ■ Serve as your conduit to local and regional resources such as workforce training, well as beaches and communities of supply chain vendors and new business channels single-family homes, she explains.

“We’re ready for change,” Wright says, “but we’re trying to do it in a conscious way that balances the needs Contact our Executive Director Tony Catapano of residents both young and old, those that have been here and those that or Deputy Executive Director Kelly Murphy. may want to come here.” ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS 631-853-4802 | [email protected] WWW.SUFFOLKIDA.ORG

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he explains, “and the vacancy rate was Overlooked for less than 1 percent.” With the sudden interest and rising prices, including some that have years, industrial doubled or tripled in recent years, “the market is the strongest it has been in three decades,” Pennetta says. real estate is Office space at 263 Old Country Road “There is a 6.6 million square feet in (a Cushman & Wakefield’s project) planning or under construction plus suddenly a star one big project that will add nearly 10 million square feet,” the Cushman & jumped,” Magnani says. A wait-and- change, the need for tax dollars will Wakefield executive says. “That will see approach is in play as employers create an impetus. mark a 10 percent jump in the overall and employees try to sort out the he industrial real estate industrial lots in Brooklyn and Queens total in Nassau and Suffolk.” future of office space, he says, and Pennetta says office life will ultimately market has long been the that were sold to residential developers. that’s created a glut. return. “Just look how quickly we are lost child of Long Island real returning to our old habits,” he says, estate. These days, however, “They are looking for proximity and Industrial developers from off Long But Kruse say things are picking up citing projects at 263 Old Country the industrial market has become the access,” Magnani says. But with a Island took the lead on the initial T construction. “Everybody here was now and should accelerate soon. Road and 515 Broad Hollow Road as darling of the family. shortage of inventory that has sent “We have a boatload of listings in examples of how offices can be made prices skyrocketing, the developers late to the game,” Pennetta says, but retail and office spaces,” he says. appealing. The latter offers a huge gym, “The industrial market has really been must look hard to find spaces, that is changing, with a lot of new “People aren’t jumping on the golf simulators, a pool and a restaurant. ignored on Long Island as commercial although Magnani says southern developers coming in as well as people spaces, but they are out here looking It was supposed to be a WeWork space, developers moved on from offices to Nassau and Suffolk counties have with the money. He explains that banks and talking, and that’s the starting but now several tenants will share it as multifamily development,” says David greater availability at lower prices. and funds that were putting equity point.” He adds that the emphasis their headquarters. Pennetta, executive managing director into multifamily properties are “now on downtown redevelopment of the Long Island office of Cushman “You just can’t get enough industrial making a big push into the industrial throughout Long Island has made “There has long been a brain drain for & Wakefield. But these days, the rise listings right now because of the section.” retail red hot. Long Island kids going into the city,” in the industrial market, fueled by extremely low inventory,” adds Rich Pennetta says. Some of that is because businesses leaving the city, is especially Kruse, an agent at Douglas Elliman “There is lots of money now,” Post-pandemic, Kruse expects some of housing issues, he explains, but strong in northwest Nassau County, and president of the Long Island Pennetta says. city businesses to either move to it’s also about the work experience. say John Magnani, executive director Board of Realtors. Long Island or create satellite offices “This newer, more fun type of office of DGNY Commercial and a board While the industrial market stayed for employees who don’t wish to experience could change that and help member of the Commercial Industrial Pennetta says this situation was a hot even during the pandemic, the return to commuting. Some sites with maintain the tax base. Brokers Society of Long Island. long time coming. “It was not sexy lockdown put a hold in other real offices may ultimately be rezoned to own industrial properties— there estate sectors “The permit process residential, Magnani says, adding that “It’s an exciting time here,” he adds. The exodus, Pennetta explains, was hadn’t been a speculative industrial was slower, building departments while building departments don’t like “I’m enthusiastic.” prompted in part by the numerous building constructed in fifteen years,” had skeleton crews, and then prices

WHAT’S NEXT ON LONG ISLAND With 4.1 billion square feet under management, 400 o ces in 60 countries, 2020 revenues of $7.8 billion and 50,000 hardworking innovators, this is where the power of real estate is unleashed on behalf of Long Island’s top owners and occupiers. Our clients benefi t from the insight that comes from the perspective of a trusted global leader. Explore what’s next at cushmanwakefi eld.com.

Joseph Caridi Managing Principal, Long Island & Connecticut +1 212 841 7700 [email protected]

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