Joe Campolo, CMM Managing Partner and HIA-LI Board Chairman, put out a call to action to the Long Island business community, including HIA-LI members, to demand federal funding for New York State and local municipalities. These funds are critical to our region’s economic recovery. Read the message and take action below.
HIA-LI Demands Immediate Economic Relief for New York State and Municipalities
Patience is a virtue – and a luxury that Long Island can no longer afford.
Every minute that the Senate refuses to pass an economic relief bill, millions of dollars in losses continue to mount.
Many business sectors remain in freefall. Sales taxes are Suffolk County’s largest revenue source, funding nearly half of the $3.2 billion annual budget – but sales taxes impacted by the pandemic are not going to rebound quickly enough to sustain any type of economic recovery. The Suffolk County Budget Review Office estimates that Suffolk County will lose close to $150 million in revenue from a variety of sources.
Infrastructure spending is the only solution that will drive sustained recovery. But municipalities have put millions of dollars in infrastructure spending on hold due to lack of funds. In addition to New York State and its counties requiring additional federal funding, Towns and Villages throughout Suffolk County need additional federal assistance to fund critical infrastructure projects, as well as fund essential services and increased costs in the face of unprecedented lost revenue.
As Long Island’s strongest business advocate and steward of the Long Island Innovation Park at Hauppauge – the second largest industrial park in the nation behind only Silicon Valley – HIA-LI and its members must demand action from the U.S. Senate. Our economic recovery depends on it.
Hats off to our local elected officials at all levels of government, who understand the urgency and have been working on bipartisan solutions to provide direct support to state and local governments. (Learn more about their calls for direct coronavirus funding to state and local governments here.) But the Senate has continued to delay.
We ask you to reach out to the dignitaries listed below and let them know how critical this funding is to our region’s economic recovery.
We simply do not have any more time to wait. The time to act is now.
Board Chairman, HIA-LI
Managing Partner, Campolo, Middleton & McCormick
President & CEO, HIA-LI
Representative Lee Zeldin – Conor Carney: Conor.Carney@mail.house.gov
Representative Thomas Suozzi – Conor Walsh: Conor.Walsh@mail.house.gov
Representative Peter King – Kevin Fogarty: Kevin.Fogarty@mail.house.gov
Representative Kathleen Rice – Michel Viterise: firstname.lastname@example.org
Senator Charles Schumer – Garrett Armwood: Garrett_Armwood@schumer.senate.gov
Senator Kirsten Gillibrand – Magdalonie Campbell: Magdalonie_Campbell@gillibrand.senate.gov