TOWN OF HEMPSTEAD
INDUSTRIAL DEVELOPMENT AGENCY
2011 OPERATIONS AND ACCOMPLISHMENTS

		In spite of the continuing difficult economic climate and recessionary environment, the Town of Hempstead IDA oversaw twelve (12) projects with a combined value of $284 million.

	The largest undertaking was Equity One Northeast which acquired the long vacant former headquarters of the Avis Car Rental Company and has already attracted an array of national retailers to its planned 330,000 square-foot development on Old Country Road in Westbury.  In addition to hundreds of construction jobs involved in the build out of the project, which will feature retail ships, restaurants and a bank, it will provide approximately 575 full and part time jobs upon completion.

	Another IDA project, West Hempstead Development, is removing community blight while providing needed market rate housing.  With financial help from the IDA, the company acquired the crime-ridden Courtesy Hotel, demolished it and is building a 150-unit rental housing complex, a win-win for local residents.  The 192,000 square-foot building at 130 Hempstead Avenue, West Hempstead, will provide parking on the first two floors and residential units above.  More that 200 jobs are required during construction and four full-time positions will be created when the facility is up and running.

	The IDA further assisted Angion Biomedica Corporation with benefits that persuaded this medical research business to remain in the township.  The company acquired a 108,000 square-foot building which it renovated at a total project cost of over nine million dollars.  Angion retained thirty jobs and within two years expects to employ fifty workers.

	Finally, the IDA provided incentives to a number of retail businesses with new construction and upgrading to a number of car dealerships and repair service components.  These projects retained and added hundreds of jobs; but the upgrading of these establishments will greatly assist the sales of automobiles, SUVs and trucks that is such a crucial segment of our economy.

	The IDA, through its website and advertising programs, continues to aggressively market the benefits it provides to the general public and, especially, the business community.  The special relationship that the IDA has developed with Bloomberg News Radio, which is oriented to the economy, is a crucial component of that outreach.

	Presently, the Town of Hempstead provides benefits to approximately seventy (70) projects and, to date, has created and retained over nearly 14,000 permanent employment positions and many thousands of part-time and construction positions.

Resolution 021-2012
Adopted:   March 21, 2012