20 LONGISLANDPRESS.COM • APRIL 2020
NASSAU COUNTY IDA CHAIRMAN RICHARD KESSEL
STIMULATING THE ECONOMY
BY SHERYL NANCE-NASH
For more than 35 years, Richard M.
Kessel has been clear about his mission
to serve the public. He started down
that path as executive director of the
New York State Consumer Protection
Board. Kessel spent decades on the
Board of Trustees for Nassau Community
College and served on the Nassau
County Interim Finance Authority. He
has held leadership positions with the
“Over the next six months we will have big
job-creating projects popping out all over.”
Long Island Power Authority (LIPA)
and the New York Power Authority. In
2018 he became chairman of the board
of the Nassau County Industrial Development
Agency (IDA). Kessel worked
in various capacities for six New York
governors, but he’s particularly stoked
now. The Merrick native says, “Nassau
County is my first love. I want to do
some good things.”
For those who aren’t familiar, can
you share what IDA is and its mission?
We are a state authority that
works with the county to promote
economic development and jobs. Expanding
the tax base is a priority. We
work to attract new businesses to Nassau
County, keep existing businesses
here that might want to leave, and help
companies expand.
What’s essential to keep companies
here and attract new ones? Everyone
recognizes that we need more
housing and more affordable
housing, especially to encourage
millennials to work and live in
the county. We’re working with
Nassau County Executive Laura
Curran on new housing projects
like the one we just got approved in
Lynbrook. Another issue is taxes. We
can’t lower taxes but can provide tax
stability. For example, we can set up a
15- or 20-year pilot plan where taxes
are frozen at a certain rate and then
slowly raised, or there can be a sales
tax exemption, for things like building
materials and mortgage recording.
There’s a well-known company in
Freeport that’s outgrown its space. Its
dilemma is deciding whether to go to
another state with cheaper property
taxes or stay here. But they can’t afford
to stay. Our job is to work with them,
so they stay and continue to grow.
The chief challenge is the high cost of
living on Long Island.
You have extensive experience in
government; what fueled your interest?
I’ve always been curious. I
recently spoke to my sixth-grade
teacher who told me I was his
only student that read Newsday
and The New York Times. I am an
only child. When I was in college
my mother was sick with cancer. I
couldn’t understand why the government
wasn’t spending
more to search for a
cure. That lead
me to politics
and government.
At
24, I did a
run for
cancer
in Washington, D.C. Curing cancer
became my focus. I majored in political
science and ran for the state senate
but lost. My parents encouraged me to
pursue public service over money.
How did you wind up leading IDA?
I’ve known Laura Curran for a long
time. She asked my advice on energy
issues in the past. When she became
county executive, she
asked me to do IDA.
It’s opened up
another world,
it’s a great
way to help
the county.
She’s really
engaged.
She has
gone with
us to meetings.
Her
presence is
incredibly helpful as we put together
projects.
What’s your vision for IDA? We
need to significantly increase the
housing stock. I foresee hundreds
of new housing units over the next
three to five years, especially affordable
housing near LIRR stations and
local downtowns. Freeport’s and Lynbrook’s
downtowns need help; what
better way than with new housing?
We will be sensitive, not putting up
something 10 stories high. We will
work with local officials and the
communities to get their input. I also
see a tremendous opportunity for
us to become one of the centers for
streaming. It’s expensive for studios
to operate in Brooklyn and Manhattan.
Let’s make it cheaper for them to
do it here, and provide union jobs. I
am excited. Over the next six months
we will have big job-creating projects
popping out all over.
How is the IDA responding to the
coronavirus crisis? The Nassau
County IDA is working in
conjunction with our partners
on the Nassau County
Economic Advisory Council
to monitor and measure the
impact of the COVID-19 crisis
on employers and employees
alike. We continue to actively
monitor announcements from
both the Federal and New
York State governments for
availability of resources to
support businesses, large and
small, during this downturn
and will communicate with
them accordingly. Lastly,
we are encouraged by the
willingness of Nassau-based
businesses to offer their own
support for those in need at this
time whether it be for specific
medical/emergency donations,
re-tooling of companies
to produce needed items,
available warehouse space,
or food donations to name a
few. Working together as a
business community will be
critical to our future success
once the crisis subsides.
CORNER OFFICE
Richard Kessel is chairman of the board of the Nassau County Industrial Development Agency (IDA).
/LONGISLANDPRESS.COM
