Expired ban on retail benefits a boost for IDAs | Long Island ...

by David Winzelberg
Published: June 1, 2012
Tags: Cohn & Terrana, construction, Curto, Deegan, development, Economy, employment, Equity One, Forchelli, Gallery at Westbury Plaza, IDA, Industrial Development Agency, Long Island Jobs with Justice, Mineo, Nassau County IDA, New York State Economic Development Council, Penn Toyota, recession, Retail, retail benefits, retail projects, sales tax revenues, Schwartz, Simon Property Group, state law, Suffolk County IDA, support, tax breaks, taxes, Walt Whitman Mall

The lapse of a state law barring industrial development agencies from backing retail projects has led to a jump in IDA support for deals ranging from auto dealerships to new malls and shopping center expansions. First passed in 1997, the prohibition was intended to preserve tax breaks for businesses most at risk of relocating out of ...

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