Hempstead IDA Initiatives To Create More Than 3,000 New Jobs: Comptroller

HEMPSTEAD, NY — The Town of Hempstead Industrial Development Agency (IDA) remains a significant driver of job creation and economic development. The 2025 performance report released by State Comptroller Thomas DiNapoli indicates that the Hempstead IDA managed 75 active projects with a total value of over $3.1 billion.

Those initiatives are expected to create 3,246 new jobs in the Town of Hempstead, the IDA said.

The 75 projects supported by the agency delivered $37.53 million across the community through Payments in Lieu of Taxes (PILOTs) last year — revenue made in place of traditional taxes that support schools, roads and other essential public services.

“The Comptroller’s latest report demonstrates the Hempstead IDA’s commitment to generating real results — new jobs, stronger businesses, and a thriving tax base,” said IDA CEO Frederick Parola. “We’re pleased to see our strategic investments creating measurable and lasting economic benefits for the Town of Hempstead.”

On a statewide level, the report indicates that New York's 4,260 active IDA supported projects had a cumulative value of $135 billion in 2023, marking a $3 billion increase from the previous year.