Funds could help local businesses to recover
November 7, 2012 by James
For small businesses located in Farmingdale and throughout Nassau County that were damaged by Hurricane Sandy, some good news was announced at the end of last week. Ed Mangano, Nassau County Executive, declared that a dedicated financial assistance fund focused on small businesses was being organized. Eligible enterprises that need help with reconstruction and recovery costs could receive up to $99,000 of support from the fund.
A press release from Mangano stated:
“Getting Nassau County businesses reopened is an absolute priority and we believe our dedicated program will assist those affected businesses with their recovery and reconstruction, efforts. I urge any affected business in Nassau County to call or email as soon as possible. We will have economic development professionals available to provide the necessary instructions.”
The assistance program is called LEADs (Local Enterprise Assistance and Development Services). It works by providing a sales tax exemption for any materials, furniture, or fixtures required for reconstruction or repair. Businesses with 100 employees or fewer are the program’s target audience. Whether it is a small print company that does brochure printing or a specialty clothing boutique, if a loss was suffered as a result of the hurricane, assistance is available.
In addition to the dedicated funds for hurricane damage, the LEADS program also acts as a clearinghouse for all business-related programs supported by funds at the local, county, state, or federal level.
To make contact with a member of the Nassau Industrial Development Agency, businesses should call (516) 571-1745.