Friday, 22 July 2011 00:00
The proposed coliseum project is critical to Nassau County’s economic revival. It will create jobs immediately: 1,500 construction jobs and more than 3,000 permanent jobs. It will help Nassau County get back on its feet economically by generating development in the area and injecting much needed cash into the County’s coffers.
An independent study commissioned by the Nassau County Industrial Development Agency concluded that the new coliseum will generate revenues exceeding the cost of construction. It will bring in $1.2 billion in revenues for the County over the life of the lease with the New York Islanders with profits of $430 million for the County. The August 1st referendum presents an opportunity to enlarge the tax base of Nassau County and stop the cycle of unemployment and high taxes.
If a new coliseum is not built, the New York Islanders have stated that they will leave Long Island. It is likely that the coliseum would close. The best shows and events would move off of Long Island. Building a new coliseum is a win for Long Island. The alternative is an abandoned arena and an empty parking lot. The Long Island labor movement urges a YES vote on August 1st.
John R. Durso
Long Island Federation of Labor, AFL-CIO