Long Island, NY is a vibrant business location with a huge amount of further potential. After a tough period earlier in the century, Long Island is making a comeback thanks to the many incentive programs being offered to new and established businesses. If you are an entrepreneur looking for a place to do business, then there are a lot of good reasons to check out Long Island. For the businesses that are already on Long Island, now is a good time to get the funding and assistance you need to grow.
Financing and Incentives for Businesses in Long Island
Long Island has a variety of local, state and federal programs available to help businesses get funding, and to give businesses financial incentives for setting up shop in the area. It is worth the time for a business owner to check out these different programs and take advantage of the help that is available.
Industrial Business Zone Relocation Tax Credit
If you are moving your business into an industrialized zone on Long Island, then you may qualify for an Industrial Business Zone Relocation Tax Credit. The credit is the lesser of $1,000 per employee, or $100,000. It is a one-time incentive that can help your business to get off to a good start in your new location.
Industrial and Commercial Abatement Program
If you have plans on upgrading your Long Island industrial or commercial facility by at least 30 percent of its value, then you could qualify for the Industrial and Commercial Abatement Program. Under this program, your business could qualify for property tax breaks for up to a period of 25 years.
The Excelsior Jobs Program
The Excelsior Jobs Program offers incentive packages to companies that relocate to Long Island and make considerable capital investments in their businesses. It also offers incentives for companies that hire local Long Island residents. To get more information on this program, you can check out the program's website located at http://www.esd.ny.gov/BusinessPrograms/Excelsior.html.
Programs for Entrepreneurs in Long Island
In many growing communities, it is not unusual to find support organizations for entrepreneurs and young people interested in starting their own businesses. Long Island is no exception, and you can find plenty of support for your business ideas among the local organizations.
Launch Pad Long Island
Launch Pad Long Island is an entrepreneurial haven where people with business ideas come into contact with people who can make those ideas come true. There are work facilities available to entrepreneurs, and there are areas for conferences and meetings as well. There are events every month geared towards educating entrepreneurs, and helping them to make contacts within the Long Island business world. You can read about the services and register for the programs available at Launch Pad Long Island when you go to the program's website at http://launchpadli.com/.
Long Island Entrepreneurs Group
The Long Island Entrepreneurs Group is run by established entrepreneurs who want to help new entrepreneurs to succeed. This group offers resources such as networking functions, business support and education.
Workforce and Local Business Programs in Long Island
The people of Long Island have always prided themselves on working hard and maintaining their education. Throughout the island, business owners and entrepreneurs will find organizations dedicated to helping Long Island residents get the training they need to get to work, and helping businesses to get the employees they need to succeed.
Suffolk County Community College Career Services and Cooperative Education
Suffolk County Community College uses its status as a centrally-located educational institution to help bring together employees and employers. The school hosts employer events on campus, and it has a training program that can help students to learn the skills real employers are looking for.