Economic Summit Reveals
Suffolk Economy Doing Fine
by Jane LeeBock

Did you visit SuffolkJournal.com at the Economic Summit? Click here to enter drawing for scanner.

March 28, 2001

While all three of the top government honchos who spoke at the Huntington Township Chamber of Commerce's Economic Summit Tuesday said Suffolk's economy is doing just fine thank you, they also admitted that keeping it strong will take considerable work.

Suffolk County Executive Robert Gaffney said that despite a slowing of the national economy, Suffolk has been able to hold its own.  Its bond rating has been upgraded twice in the past two years, it reduced its welfare roles by 70 percent, the county portion of property taxes is down 70 percent since he took office, job growth continues, and outstanding debt is "ninety percent lower than the law allows."

Nevertheless, changes need to be made, he said, specifically focusing on sales tax revenues, the binding arbitration stranglehold he believes the police contract negotiation process contains, and the fact that any county surpluses must be returned to the taxpayers, rather than held aside in a "rainy day fund" to be used for budget shortfalls.

"To not take decisive action now is not an option," he said.

Charles Gargano, Keynote Speaker at the event and chairman of Empire State Development Corporation painted an equally rosy picture for the state. 

"We eliminated or reduced 1,800 costly regulations, reduced the cost of workers compensation by 40 percent, and in six years made 57 tax cuts, "he said. "New York State and Long Island have not only revived but have built on successes."

Long Island is so attractive, he announced, that it will be the site of the 2001 New York State Tourism Conference in October.

Huntington Supervisor Frank Petrone said that although he too is proud of his town's good bond rating and the fact that it has the lowest debt service in 20 years, he still faces future challenges and is working on ways to resolve some long standing issues.

Recently the state announced new initiatives for economic development zones.  Petrone would like to see some of those advantages come to Huntington Station to help build a "downtown" for that region.  And the Melville area of Huntington is a major corporate center. Its Route 110 corridor is an attraction for large companies but the traffic situation for both employees and residents of the area is a nightmare.

"The challenge now is what to do with the cars," he said.  "We have abandoned our railroad stations yet they are generally a transportation hub, a link to business and homes.  We have to look at how to use these hubs more effectively."

The only non-government speaker at the luncheon was Robert Friemann of Albrecht, Viggiano, Zurek & Company, who distributed and discussed his firm's annual Long Island Economic Survey. According to the survey 53 percent of its respondents experienced revenue growth during the year 2000 and 57 percent expanded their work forces. In addition, 57 percent presently market their products and/or services through the internet, and of those that do not currently use internet marketing as a part of their business strategy, 50 percent indicated that they intended to start this year.

For those individuals who worry that with a projected economic slowdown may come higher taxes, Gaffney said that was not what he wanted to happen, but depending less on sometimes unpredictable sales tax revenues is less stable than a property tax increase.

The Kings Park H.S. Varsity Club held a circus - their fourth annual event - with two showings to an estimated 1500 spectators.  Miniature horses to flying trapeze artists and much more held raise funds to help the needy in the community. (Photo L. Ostebo)