New Program Targets Economic Assistance to Small and Mid-Size Businesses
Nassau County Executive Edward P. Mangano, in conjunction with the Nassau County Industrial Development Agency (IDA), today proclaimed Nassau is ‘LEADing’ the way by launching a new program designed to provide economic assistance and development services to Nassau County’s small and mid-size businesses. The Nassau LEADS (Local Enterprise Assistance & Development Services) program is designed to assist Main Street businesses with job revival. This program complements County Executive Mangano’s success in facilitating 15 economic development projects that have committed to create and retain 2,700 jobs in Nassau County.
County Executive Mangano stated, “Much success has been achieved working with large companies with creating and retaining jobs. I am proud to announce that my economic development team has launched a program that makes these job generating benefits accessible for small and mid-size businesses. Instead of having to contact five different organizations, small and mid-size businesses can work with Nassau LEADS as it serves as a one-stop shop for economic development assistance. This first of its kind program sends a loud and clear message that Nassau County is ‘Open for Business.’ This new initiative will help Main Street businesses create and retain jobs and I’m thrilled to be working with our local entrepreneurs to help them achieve success.”
The new Nassau LEADS program is one of a kind because it targets the small and mid-size business community which makes up 60% of Nassau County’s workforce. The Nassau LEADS Program will serve as a clearinghouse for all economic incentives, relief and programs available to small business at the federal, state, county and local levels. The County has simplified the process and made it more affordable for small and mid-size business owners in an effort to create more jobs here in Nassau and to keep Main Street storefronts open. This program is not industry specific, its job specific for businesses with 100 or fewer employees.”
Nassau’s LEADS program offers sales and use tax exemptions to existing small businesses and creates an information kiosk that will serve as a one-stop-shopping experience for regulatory, governmental and economic development questions a small business may have. LEADS also connects businesses with local, state and federal economic development partners. Available for the first time anywhere in New York State, the IDA will provide an 8.625% sales tax exemption letter to qualifying small businesses for capital investments and improvements like purchases on furniture and equipment or making renovations.
“LEADS provides an incentive for small businesses to reinvest their profits, keep local storefronts open and continue to generate sales that help hold the line on property taxes for homeowners. Small businesses are our largest job creators. One of my top priorities as County Executive has been to develop innovative ways to help businesses grow and create jobs and opportunities for our generation and future generations. This program is a model for removing the bureaucratic barriers that stand in the way of growth,” added County Executive Mangano.
A dedicated hotline and email have been established where businesses can connect with an economic development professional on issues like zoning, licensing and energy incentives within 24 hours. Businesses interested in this service can contact the LEADS Hotline at (516) 571-1745 or email LEADS@NassauIDA.org.