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October 12, 2011

Is Wang Waiting to See Where the Money will go?

New York State is trying to jump start their economy through smart developments.  Regions all over the state are competing for state aid that will allow them to build real-estate developments that will create jobs and help their local economies. 

How does this effect Charles Wang and the Islanders?  Wang might be waiting and see if one of the projects being proposed in Nassau or Suffolk will win the 200 million dollars, or at least part of the funds.  Why would he want to wait until December to see who New York will pick?  There are several reasons why:

1) A project that has New York State and local backing plus money will have a much actually being completed.  After August 1st Wang is done in dealing with maybes and wants a slam dunk if he is going put his neck out again.
2) State funding will offset a lot of the risks of trying to develop something privately.
3) Local officials will be able to honestly tell Wang that they have the green light to get something done.

Some of the project competing for these funds that the Islanders could jump in on:
1) The Heartland Project (Brentwood NY, Suffolk County)
2) Ronkonkoma Transportation Hub (Ronkomkoma NY, Suffolk County
3) Belmont Entertainment Center (Elemont New York, Nassau County)
4) Nassau Hub (Uniondale New York, Nassau County)
5) Barclays Center (Brooklyn New York, Kings County)
If one of these projects gains states support and fund the Islanders might follow.

Additional Reading:
  http://atlanticyardsreport.blogspot.com/2011/10/cuomos-new-regional-economic.html
http://mobile.newsday.com/inf/infomo;JSESSIONID=5B5BAA4047214C12CAC7.3149?site=newsday&view=search_results_item&feed:a=newsday_10min&feed:c=opinion&feed:i=1.2997564&part=1
http://mobile.newsday.com/inf/infomo;JSESSIONID=5B5BAA4047214C12CAC7.3149?site=newsday&view=search_results_item&feed:a=newsday_1min&feed:c=business&feed:i=1.3222843&feed:tag=newsday_1min,newsday_5min,newsday_10min&feed:max=50&feed:search=ronkonkoma
http://mobile.newsday.com/inf/infomo;JSESSIONID=5B5BAA4047214C12CAC7.3149?site=newsday&view=search_results_item&feed:a=newsday_1min&feed:c=business&feed:i=1.3225629&feed:tag=newsday_1min,newsday_5min,newsday_10min&feed:max=50&feed:search=Shinnecock
http://mobile.newsday.com/inf/infomo;JSESSIONID=5B5BAA4047214C12CAC7.3149?site=newsday&view=search_results_item&feed:a=newsday_1min&feed:c=breakingnews&feed:i=1.3228392&feed:tag=newsday_1min,newsday_5min,newsday_10min&feed:max=50&feed:search=Shinnecock

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