New York Marine Trades Association Endorses Mangano's Plan For A Sports-Entertainment Destination Center
Nassau County Executive Edward P. Mangano was today joined by the New York Marine Trades Association (NYMTA) as they announced their support of the County Executive’s plans for a state-of-the-art sports-entertainment destination center at Nassau’s Hub. The 150 year old association represents all the marine businesses on Long Island and New York City.
“Organizations from throughout the County and region have endorsed my plan to build a sports-entertainment destination center because they know the positive economic impact it will have for our residents and businesses,” said County Executive Mangano. “At a time when our residents need employment and tax relief the most, this plan generates over 4,500 jobs and over $400 million in tax relief.”
Chris Squeri, ExecutiveDirector of the New York Marine Trades Association, stated, “NYMTA looks out for the general welfare of boaters and the boating and marine industry. As such, it is so important to have a new arena and convention center facility that allows for bigger and better boat shows for the members. Residents should not have to go into Manhattan to enjoy shows and convention events.”
Nassau County Executive Edward P. Mangano’s Economic Development and Job Creation Plan for Nassau’s Hub has also garnered the support of the Long Island Association (LIA); the Nassau Council of Chambers of Commerce, which represents over 40 chambers throughout Nassau County; Vision Long Island; the Long Island Convention and Visitor’s Bureau; the Long Island Council of Clergy; the Long Island Chapter of the New York Restaurant Association; and the Nassau County Independence Party. The plan includes the construction of a new sports arena, ballpark and indoor multi-purpose facility for conventions and track and field events that together creates a family-fun entertainment destination while creating thousands of jobs and stimulating Nassau’s economy.
According to an independent economic impact analysis conducted by Camoin Associates, a nationally recognized firm in public and private sector economic development, the construction of a new arena will generate a profit of $27 per household for Nassau residents. These earnings are based on a revenue-sharing agreement negotiated between Nassau County and Arenaco, in which Arenaco would provide Nassau County with 11.5% of every dollar spent at the new arena, or $14 million, whichever is more. Furthermore, Camoin Associates estimates the construction of a new arena will create 1,515 construction jobs and 3,040 permanent jobs.