LONG ISLAND BUSINESS NEWS PRESENTS IDA OF THE YEAR AWARD TO TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY

05/26/17

FARMINGVILLE, NEW YORK (May 25, 2017) -- Long Island Business News honored the Town of Brookhaven Industrial Development Agency with its award for the IDA of the Year in Suffolk.

The award, presented at a May 15 ceremony at the Crest Hollow Country Club in Woodbury, recognized the strong results in 2016 generated by the IDA and its affiliated agency, the Brookhaven Local Development Corp. (LDC). In 2016, as a result of the agencies’ efforts, businesses committed to investing $189 million in projects in the town, creating and retaining new jobs in manufacturing, technology, healthcare and green energy. The agencies together closed on eight economic development projects, including solar power generation projects, manufacturers, high technology businesses and a life-care community – which will result in the creation or retention of about 800 permanent and construction jobs in Brookhaven. The biggest LDC project closed in 2016 was the $45 million bond sale by the LDC on behalf of Active Retirement Community Inc., the not-for-profit that operates the Jefferson’s Ferry life-care community in South Setauket, which used the funds to repay maturing debt and to expand its facilities. IDA projects closed during 2016 were: Shoreham Solar Commons, an $85.6 million solar power facility in Shoreham; FTS Project Owner 2 LLC/S Power, a $34.6 million solar power facility, also in Shoreham; American Capital Energy/Greenwood Energy-Holtsville, a $6.7 million solar energy project; Penn & Sons Properties LLC and Penn Fabricators, which is constructing a $6.1 million facility for its quartz-counter manufacturing facility in Medford; Four Keys Realty LLC in Yaphank for the $5.3 million construction of a facility for United Guardrail and Fence and Master Halco; American Capital Energy/Greenwood Energy-Manorville, a $3.6 million solar installation; and, Jones Ventures LLC in Holtsville, which will provide a new $2.2 million home for UI Supplies and UI Digital, which provide digital printing equipment and services. “The Town of Brookhaven IDA and LDC are tasked with creating jobs and spurring the town’s economy. Our results last year demonstrated that we have accomplished a great deal,” said Brookhaven IDA Chairman Frederick C. Braun III. “We are grateful that Long Island Business News has recognized the efforts of our board and the IDA’s hard-working staff.”

About the Town of Brookhaven Industrial Development Agency
Since 1971, the mission of the Brookhaven Industrial Development Agency has been to promote the economic welfare and prosperity of the Town of Brookhaven by assisting in the acquisition, construction, reconstruction, and equipping of commercial and industrial facilities. The IDA has issued millions of dollars in tax-exempt or taxable bonds and provided assistance through straight lease deals to encourage companies to either locate or expand in the Town of Brookhaven. This assistance has been extended to companies both large and small, and has resulted in the direct creation of thousands of jobs for Brookhaven residents. The IDA has provided assistance to a wide range of companies, including Tate’s, Amneal Pharmaceuticals, Precision International, LI Precast, Woodcrest, Uncle Wally’s, and Framerica. For more information visit BrookhavenIDA.org or call 631-451-6563.

< Back To All Posts