Suffolk County Executive Steve Bellone, the Suffolk County Industrial Development Agency (Suffolk IDA), and Hauppauge Industrial Association of Long Island (HIA-LI) have released the Hauppauge Industrial Park Opportunity Analysis.

The analysis identifies opportunities to anchor the Park to Long Island’s long-term economic revitalization.

The more than 160 page report found that the Park has the largest concentration of tradeable businesses on Long Island — 20 percent above the national average — and in turn offers an unparalleled opportunity for Long Island-wide economic development.

“The Hauppauge Industrial Park is the cornerstone of Suffolk County’s economy, plain and simple,” said Suffolk County Executive Steve Bellone.

“The Opportunity Analysis lays out achievable and substantial strategies for economic growth. This comprehensive roadmap provides our region with the building blocks needed to strengthen, expand and attract key industry clusters that will push our innovative economy to the next level.”

“As the largest business park in the Northeast, the Hauppauge Industrial Park today ranks as the unrivaled cornerstone of the Suffolk County economy,” said HIA-LI President and CEO Terri Alessi-Miceli.

“Now, thanks to the five-part strategic plan set forth through our partnership with the Suffolk IDA, James Lima Planning + Development, and the Regional Plan Association, the Park is equipped to fulfill a growth scenario that will redouble its contributions to our regional economy.”

The Opportunity Analysis has determined five economic development strategies for the Park to grow and influence the entire Long Island economy: facilitate business growth; attract and retain skilled workers; strengthen training and workforce development; promote innovation and technology transfer; and connect businesses, governments and institutions.

The Suffolk County IDA and HIA-LI plan to take lead in fostering partnerships with relevant institutions, major private sectors conglomerates and non-profits.

The Opportunity Analysis also offers competitor analysis and assessment to provide differentiation, learning and collaboration opportunities.

“Since its conception, HIA-LI has continuously invested time, vision and planning in the Hauppauge Industrial Park, driving millions in tax ratables to our community and employing our residents,” said Smithtown Supervisor Ed Wehrheim.

“The Report; a roadmap into our future, takes this investment to new and endless heights. Imagine neighboring businesses working together to capitalize on mutual growth, a think tank of business professionals working to help innovate local companies to the next level, the private sector working with public institutions to plan for alternative energy or create walkable communities for the next generation of great innovators to live and play. The possibilities are truly endless.”

The Hauppauge Industrial park is home to 55,000 employees and its $13 billion of annual output accounts for eight percent of Long Island’s Gross Domestic Product (GDP).

Of the park’s total employment, 58 percent are located in tradeable sectors (exports of goods out of the region) which outperforms both the nation’s average of 36 percent and Long Island’s 23 percent considerably.