HIA-LI Unveils Economic Impact Study of Hauppauge Industrial Park; Highlights Critical Need for Continued Investment and Development
New Study Details Importance of Park to Growing Long Island Economy, Forms Basis of Planning Tool for Additional Development
HAUPPAUGE, N.Y., May 9, 2017 /PRNewswire/ -- HIA-LI, one of the recognized voices for business on Long Island, has released an executive summary of the first ever Economic Impact Study of Hauppauge Industrial Park. The study details the Park's population density, industrial diversity, high employment rate, eco-friendly initiatives and strong economic impact on the region. HIA-LI plans to use the Economic Impact Study (EIS) as a planning tool and first step toward creating a strategic blueprint for growth of the Hauppauge Industrial Park which could include development of an innovation hub, rental apartments, walking paths, entertainment venues and a buying consortium for Park businesses and HIA-LI member organizations. The comprehensive study was developed under the direction of an HIA-LI task force of Long Island business owners, in collaboration with the Suffolk IDA, the Regional Planning Association and Stony Brook University.
"The numbers are staggering, yet the Park is more significant than its stats. There needs to be a greater sense of community and innovation here," says Terri Alessi-Miceli, HIA-LI President. "In light of our children leaving and companies being wooed from Long Island, it is critical that we continue to develop desirable places to live, work and play here on Long Island. The Hauppauge Industrial Park can become one of those places."
HIP by the Numbers
Phase One of the Economic Impact Study of the Hauppauge Industrial Park details the impact the Park has on the regional workforce and economy. At 11 square miles, Hauppauge Industrial Park is not the largest by landmass of the three major Long Island industrial centers, but it is home to nearly ten-fold the number of companies of the next largest located in Melville and Calverton.
- 1,350+ manufacturing, construction and services industry businesses reside in the Park.
- 55,000+ individuals employed by Park businesses.
- 1 in 20 jobs on Long Island is dependent on the Hauppauge Industrial Park.
- $13.4 billion sales volume generated by Park businesses.
- $2.897 billion in total combined Park business payrolls.
- $64.5 million levied in annual property taxes.
"Over time, we expect that Park infrastructure improvements like the new sewer system and overlay district, combined with innovative development and increased investment, will enable expansion of the Park to include residential and entertainment spaces as well as typical industrial uses," says Alessi-Miceli.
For more information and an executive summary of the HIP Economic Impact Study, please contact Terri Alessi-Miceli at: 631-543-5355.
About HIA-LI
HIA-LI helps Long Island businesses prosper. For over 30 years, we have been one of the recognized voices for business on Long Island and a powerful force and economic engine for regional development. We provide a forum for business leaders to network, problem solve and obtain advice on critical issues facing their businesses. Our member companies represent tens of thousands of business professionals. We're headquartered in and support one of the largest industrial parks in the United States. HIA-LI programs and events promote strategic partnerships, targeted networking, and information sharing and business advocacy. Members benefit from our committees, educational programs, career resources, research capabilities, mentoring opportunities and business advisory services. For more information, visit http://www.HIA-LI.org or call 631-543-5355.
HIA-LI CONTACT:
Terri Alessi-Miceli, 631-543-5355, [email protected]
MEDIA CONTACT:
Lisa Hazen, Communication Strategy Group; 1-866-997-2424; [email protected]
SOURCE HIA-LI
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