It’s tough to say whether it’s the large, affluent customer base or the proximity to New York City or some other factor, but businesses are thriving in Nassau County. If you are looking to relocate or open a new Nassau County business, it’s hard to argue with the benefits of doing business in this area.
Nassau County Business Advantages
They say real estate is about three things: location, location, location. For Nassau County, this saying couldn’t be truer. Long Island is located next door to the biggest city in the world with commercial real estate available at a fraction of the price. But, that is not the only reason to do business here. Nassau County has three other big assets: excellent transportation options, a talented workforce and great business incentives.
Highly Accessible
Nassau County’s 480 miles of roads help connect customers, businesses and suppliers every day. With eight major east-west roadways and the Long Island Expressway, Nassau County roads are one of the region’s biggest assets. For example, the nine-mile stretch of Peninsula Boulevard connects Long Islanders to Rockville Center’s shopping districts.
From Manhattan to Montauk, the Long Island Rail Road carries nearly 300,000 passengers every day. With 11 branch lines and 124 stations, the largest commuter railroad in the United States quickly transports both workers and customers to your business. The largest LIRR hub is located in Mineola, a busy center for Long Island businesses.
The Nassau Inter-County Express, also known as NICE buses, provides low-cost transportation throughout the county. These public buses reach Nassau County destinations not covered by the LIRR.
Two major airports in Queens, JFK International Airport and LaGuardia International Airport, are easily accessible by public and private transportation. Two smaller airports, Islip Long Island MacArthur and Republic Airport in Farmingdale, also serve Long Islanders.
Large, Educated, Diverse Workforce
A Nassau County has a large, educated and diverse workforce pool to choose from. The county’s nine higher education institutions produce a steady stream of talented potential employees. More than 40 percent of residents have earned bachelor’s degrees or higher.
Nassau County residents are diverse, too. Roughly, 30 percent have minority backgrounds and 23 percent speak more than one language at home.
The county’s large population is another benefit to opening a business here. With nearly 1.5 million residents, Nassau County provides great opportunities for building a talented staff and a large customer base.
Big Government Incentives
The Nassau County Industrial Development Agency offers incentives, such as loans and tax credits, to businesses locating or expanding here.
With real estate tax exemptions, a Nassau County business can elect to make smaller, pre-determined payments instead of real property taxes. This exemption is called a “PILOT” or (payment in lieu of taxes).
In projects where construction or equipment purchases occur, the Nassau County IDA can issue a sales tax exemption letter for eligible construction materials, furniture, fixtures and equipment. Since the current sales tax is 8.625 percent, this exemption amounts to big savings for a business.
New or relocating Nassau County businesses can save big on their mortgage expenses, too. The mortgage recording tax exemption cuts 1.05 percent off the price of a mortgage. For example, if your mortgage is $3 million, your savings could be $31,500.
Companies are also eligible for tax-exempt and taxable bonds that offer big savings on financing costs.
With all these perks, why not search for locations for a Nassau County business today?
