Long Island leaders reveal their predictions for the year aheadfor the year ahead

Stuart Almer

President and CEO

Gurwin Healthcare System

The long-term care industry is in crisis. Closures continue across the country due to chronic underfunding and a caregiver shortage; with a population that is aging in record numbers, we are at a critical juncture that does not seem to be easing. Onerous oversight and staffing mandates, while well-intentioned, only serve to further stress an industry that is critically needed but also critically ill.

Without increased funding – to both cover the cost of providing care and enhance wages for a committed but tired workforce – we will see more nursing home closures, leaving families desperately searching for quality care. We need an investment in growing our workforce, to ensure care is available today, and for future generations.

Nursing homes of today are not “old folks homes.” Our residents are frail, often with multiple diagnoses, and cannot be cared for at home. We need a commitment from policymakers to lessen punitive oversight, incentivizing quality and improvement and moving away from penalties and fines. Without a change in the regulatory environment, we will continue to see good talent leave our industry, which is a loss we cannot sustain.

The good news is there has been an increase in the number of individuals enrolled in training for nursing and other healthcare careers. We are hopeful that the incoming administration will lessen regulations and not act on promises to cut Medicaid and Medicare spending. We still need to ensure the long-term future of skilled nursing care with predictable funding and regular increases to the Medicaid rates.

Although no one may choose to live their final days in a nursing home, often declining health dictates that this is the only safe option. Long-term care residents deserve to be more than an afterthought, with high-quality care provided by skilled and engaged caregivers. We are hopeful that the future will include some relief.

 

Phil Andrews

President

Long Island African American Chamber of Commerce

The outlook for Long Island’s future looms very bright on the horizon! After the post-pandemic years, Long Island’s ecosystems have increased its capacity to create a sustainable economy well into the future. During the last few years, Long Island has recognized that it takes a wider participation from all sectors of the region to propel the Island into a prosperous future.

Local and regional entities and a host of other resources need to continue advocating for solutions to the region’s problems and to create viable solutions to ensure economic stability, environmentally friendly policies and practices, and provide jobs of the future for the next generations of Long Islanders.

Complex challenges such as the shortage of economic opportunities can only be solved by multiple organizations such as The Long Island African American Chamber of Commerce, Long Island Association, Nassau Council of Chambers of Commerce, Suffolk County Alliance of Chambers, SBDC’s, entrepreneurial assistance centers, CDFI’s, colleges and universities, local government and financial institutions working together.

Diverse teams bring different perspectives, skills sets, and raises the bar of what we can achieve together as a team. Diversity, Equity, and Inclusion creates and fosters a collaborative environment which generates innovative solutions to get more resources where it is needed the most to solve our region’s most pressing problems and creates a gorgeous mosaic.

 

Dr. Navin Arora

Founder

Borealis Dermatology

The use of artificial intelligence (AI) is being utilized in many ways in the medical sector by doctors and researchers today. As a doctor and healthcare provider, AI is beneficial in making connections and communicating with patients. There are complex treatments, diagnoses and sophisticated medical terminology that many patients do not understand. Through AI, doctors and providers can effectively communicate and better explain care and treatment options to patients. AI is also being used for researchers to develop new treatment options and medicine. Lab analysis of imaging detection, radiology and pathology is beneficial in detecting early signs of diseases such as cancers in addition to providing more accurate and quicker diagnoses.

As AI and technology evolves, my main message to patients is to avoid using Google and AI for medical self-diagnoses. There is a lot of information on the web that is inaccurate and misleading. The best way to receive a diagnosis is from a doctor or medical professional. If you are experiencing any abnormal symptoms or feeling ill, it is best to be treated by a doctor, rather than running to Google.

Families need to look at healthcare together. In 2025, we will stress providing service to entire families and different generations. This allows for better and more comprehensive care and outcomes for patients.

 

Jerry Balentine

Provost and Executive
Vice President

New York Institute of Technology

As artificial intelligence (AI) becomes increasingly essential in a wide variety of industry sectors, college students across all fields of study will need to be equipped with foundational knowledge and practical skills that complement their major disciplines. Higher education will begin to focus on AI integration into coursework much more broadly in 2025 and beyond.

At the same time, however, colleges and universities must remain committed to producing graduates well-versed not only in the latest technological trends, but who also are conscious of the societal impact of their work. This trend will reemphasize the importance of humanities in parallel with the expansion of technical course offerings in a setting of successful broad-based AI education. It will emphasize interdisciplinary learning by integrating courses from business, health sciences, architecture, the humanities, and beyond, creating a unique intersection of AI and major-specific knowledge among today’s students and tomorrow’s leaders.

Education about this increasingly prevalent and ever-changing technology must focus on both technical and applied aspects of AI to equip students with a broad range of skills that enhance their career opportunities. Students will require a deep understanding of AI algorithms, programming, and data handling techniques. At the same time, they will need the ability to analyze and critique AI systems and algorithms for effectiveness, bias, and fairness. This will enable them to effectively apply AI techniques to real-world problems with a clear understanding of the ethical considerations surrounding AI development and deployment.

 

Leo K. Barnes Jr.

Partner

Barnes & Barnes PC

2025 brings an improving economy after a few tough years, which should also portend an upswing in business litigation, as companies and individuals will have the means to address problems in a way not feasible while business owners were focused upon keeping the proverbial lights on.  Likewise, as interest rates hopefully continue to fall, 2025 is also likely to herald an increase in real estate litigation amongst buyers, sellers and contractors.

With likely economic improvement bringing the breathing room and financial means to “clean house,” we expect businesses (especially closely-held entities) to put a magnifying glass on the profitability of co-owners, as well as any wrongful conduct which might have occurred during—or exacerbated—the lean times.  As businesses look to replace less-than-ideal personnel, or even where partners that were economically bound together look to get out, litigation almost inevitably follows. Fortunately, these business-related litigations are addressed locally in the Commercial Division of the State Supreme Court (located in Mineola, Central Islip and Riverhead).

On the real estate front, the likelihood of falling interest rates and the resulting increase in property values should also lead to an increase in real estate related litigation.  In that regard, a party handing over a dispute from transactional counsel to experienced real estate litigation attorneys can often make the difference between retaining or losing hundreds of thousands of dollars as a result of contractual disputes or for claims regarding specific performance (compelling another party to fulfill a contract).

 

John Beres

Chief Business Officer

SterlingRisk insurance

The Property and Casualty (P&C) insurance market in 2024 faced significant challenges, including rising premiums, increased underwriting scrutiny, and frequent catastrophic events. As we look ahead to 2025, business owners should prepare for continued headwinds, with further premium increases anticipated, particularly in property and automobile lines. These increases are primarily the result of higher reinsurance costs and claims payments. However, the overall profitability of the industry could foster more competition and predictability in other lines of business.

Navigating your organization’s insurance renewal to ensure a favorable outcome requires a strategic approach. This includes initiating early discussions with your broker, preparing relevant underwriting information, and, in some instances, being ready to provide greater detail and information than in previous years.

 

Stanley M. Bergman

Chairman of the Board and Chief Executive Officer

Henry Schein, Inc.

Rapid advances in artificial intelligence (AI) and the rise of personalized medicine are just two trends that we expect to accelerate a revolution in healthcare in 2025.

In oral health, which is Henry Schein’s largest market, AI can assist with diagnosis and treatment planning, helping dental teams identify early stage oral disease that isn’t visually evident.

Additionally, the combination of mass individual patient data and increased computing power will allow health care professionals to develop patient-specific approaches to treatment planning, leading to more effective and efficient outcomes.

Another promising trend is bridging medicine and oral health. Research increasingly demonstrates the correlation between oral disease and overall health, including diabetes, cardiovascular, and maternal health, among many other conditions. An increased focus on systemic wellness and prevention will reduce health care costs and improve patient outcomes.

As a society, we must address the critical shortage of, and stress upon, our frontline health care workers at a time when a growing number of older patients will require care. New technologies allow our medical and dental team members to provide more precise treatment with less training. We expect to see advancements in how providers use their care team members, and in particular the reimagining of the role dental professionals play in conducting routine health screenings.

2025 promises to be another year of significant healthcare innovation. We’re focused on helping healthcare professionals navigate this exciting future for the ultimate benefit of patients.

 

Edward Bonahue

President

Suffolk Community College

As one of the largest RN nursing programs in the State University of New York (SUNY) system, Suffolk County Community College’s Jane F. Shearer School of Nursing has earned a reputation for providing an exceptional pipeline of highly trained nursing professionals for the Long Island region. The college is taking a proactive approach to meeting the needs of our region’s healthcare employers:

• Suffolk will be expanding the enrollment capacity of its nursing program by approximately 20% over the upcoming year.
• With additional faculty resources, combined with strategic curriculum and schedule redesign, the college will enroll almost 100

additional nursing students beginning in 2025.

• The college will begin admitting students in January and August, increasing the overall numbers in each cohort.
• In addition, during the summer of 2025, Suffolk will start an accelerated program for 48 LPNs, allowing students to complete the RN requirements in only 12 months.

Suffolk County Community College will also construct a second Automotive Technology Training Center program on its Michael J. Grant Campus in Brentwood. The college already operates a training center on the Ammerman Campus in Selden. With two centers, the college will be better able to meet employer demand for trained automotive technicians. The new facility will be a regional hub for advanced automotive and transportation training.

 

Kristen Burke

Market President, Commercial Banking

Valley Bank

As we look ahead to 2025, there are many variables and unknowns that could impact the banking sector and businesses on Long Island. We’re cautiously optimistic about 2025 and will be watching the impact of the policies of the incoming administration. Potential deregulation is generally perceived as positive for the banking industry, but we will continue to pay close attention to inflation and the effect on interest rates.

While sentiment is generally positive, our clients are maintaining a wait and see approach as consequences to the economy from possible tariffs and immigration shifts will have to be gauged. Long Island has always been sensitive to the ups and downs of the real estate market and is reliant on construction and adjacent business such as home improvement, furnishings and brokerage. The interest rate environment certainly is a key contributor to the strength of this industry.

We anticipate there will be a need to continually evaluate and pivot as policies are rolled out and we have a better understanding of their impacts on the economy and the business environment.

 

John Cameron, Jr.

Chairman

Long Island Regional Planning Council

New York State’s second largest economic regional generator, Long Island, deserves more equitable treatment from the State and Federal governments. A startling fact is that Long Island annually sends almost $15 Billion in tax payments more to Albany than it receives back and $27 Billion more to Washington, D.C. The state tax imbalance is double what it was 10 years ago! That cannot continue if Long Island ‘s economy is to continue producing those major revenues for the State and Federal governments and for our Island to sustain a quality of life necessary to retain its productive workforce.

The LIRPC back in 2010 produced a 25-year Sustainability Plan entitled LI 2035 that identified the challenges and opportunities presenting Long Island. The two major impediments to Long Island’s future sustainability identified in the study– an unsustainable tax burden and a lack of diversity in affordable housing options still remain today as our greatest challenges. If we are to address our tax issue, we need to not only control our school budgets, the largest component of our tax bill, but we also need to grow our commercial tax base through economic development. Our affordable housing challenge continues to be pervasive threatening the supply of our quality workforce. Governmental incentives can have a major positive impact in addressing both of those critical issues.

In addition to those issues, the Island still has many other challenges which need to be addressed including improving the nation’s oldest suburb’s aging infrastructure (i.e., water, wastewater, power grid, rail, roads, bridges, etc.), meeting the challenges of our changing population (i.e., aging, demographics, etc.), solid waste management, protection of our environment, ensuring a safe and adequate potable water supply, flood protection, etc.

Our challenges are myriad, costly and complex. We can address and resolve them, but not alone. We need the financial, legislative and administrative support of our State and Federal partners, without which, we do so at our mutual peril.

 

Joe Campolo

Founder & CEO

Strata Alliance

Over the last 50 years, Long Island has undergone a significant transformation and has immense potential for growth. To sustain this momentum, businesses and developers must focus on impactful projects that address community needs and unlock new opportunities. One key priority is attracting technology companies to establish Long Island as a competitive hub for high-quality job creation. By fostering a thriving tech sector, the region can offer residents greater career prospects and attract top talent.

Additionally, leveraging local resources and securing capital investments are crucial to meeting the rising demand for real estate development. Thoughtful planning and investment in housing and commercial spaces can support the region’s growing population and demand for housing.

Long Island’s tourism industry is largely enhanced by the addition of JetBlue at MacArthur Airport making it easier for visitors to experience the island’s unique offerings. Promoting Long Island’s renowned wine country can further elevate its appeal, drawing tourists from near and far.

By prioritizing development on Long Island, it can continue to evolve into a dynamic region that meets the needs of its communities while attracting investment and fostering sustainable growth.

 

Bob Caulfield

President and CEO

Jefferson’s Ferry Life Plan Community

The Long Island housing market is an important economic driver for life plan communities, which offer a continuum of higher levels of care at predictable rates. Lower interest rates, the shorter selling time and increased activity bodes well for us as typically a person sells their primary residence to move into these types of communities. Older adults today are living longer, healthier lives overall, but many will need memory support. Senior living communities are responding to this need.

Today’s older adults prioritize maintaining health, fitness, social, cultural and intellectual pursuits within a community setting, which can lower overall health care costs and has increased interest in life plan communities, also known as Continuing Care Retirement Communities (CCRC).

Nationally, the number of older adults has grown as the baby boom generation ages. Suffolk County seniors over the age of 75 is expected to increase more than 30% over the next 10 years.

Not-for-profit CCRCs with a strong commitment to service will continue to play an important role in their local economies. In addition to helping older adults to stay on Long Island, CCRCs source products and services locally, provide entry level jobs that pay above minimum wage with a generous compensation package and offer significant job growth within the organization.

 

Ken Cerini

Managing Partner

Cerini & Associates

2025 is anticipated to be an interesting year for the nonprofit sector. From a service delivery perspective, the significant inflation we have experienced over the last three years (between 16% and 20%) has put more individuals and families at risk. While inflation levels in the United States are anticipated to stabilize at between 2% and 2.5% during 2025, the demand for services will remain high during 2025, putting continued strain on already stretched nonprofit sector. Government funding is anticipated to decline as New York State is looking at potential budget shortfalls over the next three years of $1 billion, $6.2 billion and $7.1 billion, respectively. In addition, government payment slow-downs experienced over the last few years are not anticipated to get better any time soon.

The stock market’s strong performance during 2024 and anticipated declines in interest rates bode well for 2025 charitable contributions, with expectations of increases in contributions of approximately 3.9% over 2024 levels. We have seen a shift in contributions over the last decade with less people contributing to nonprofits, but larger gifts coming from more wealthy Americans. As the gap between the haves and the have nots continues to widen, we expect that trend to continue into the foreseeable future. This coupled with the largest level of wealth transference this country has ever seen (it is anticipated that $11 to $12 trillion) dollars will pass from the silent generation and baby boomers over the next 20-plus years to nonprofits) means that nonprofits need to increase relationships with affluent donors.

 

Rob Ciatto

President/CEO

ACLD (Adults and Children with Learning & Developmental Disabilities)

Providers are forced to make tough decisions every day. Inflation, changes in rate structures and lack of funding continue to plague nonprofit agencies who provide support for people with developmental disabilities, intellectual disabilities, and autism. It seems 2025 will continue to be much of the same, at least as far as we can see.

As the list of unfunded and underfunded federal mandates continue to grow, so do the challenges for agencies. Reimbursement rates and varying timelines force providers in all areas to use their best guesses when budgeting, with hopes for no cuts to existing funding sources. Year after year, executives are continually compromised, and we’re not always made whole. For one, staffing within this healthcare sector continues to be a major issue. Due to the current economic landscape, it makes it more difficult for providers to keep their own people. Turnover is high, and those applying for positions such direct support professionals has dwindled dramatically in recent years. What’s more, federal laws have been enacted to increase salary for exempt employees, yet the government doesn’t provide the funding to cover the new compensation rates.

Agencies negotiate harder on contracts and are always stretching a dollar. This is where the state can step in and begin allocating additional funds to offset rising employment costs, which will also incentivize new hires to enter the field.

Regulation reform should be a top priority on both the state and federal level as many regs that were put in place years ago need to be re-examined to keep up with the times. Additional resources are necessary to meet the needs of an aging population, and we must support the direct support professionals within the residential homes as their responsibilities continue to grow.

Executives continue to think outside the box to create efficiencies and balance tight budgets due to the lack of income and government funding.

 

Allan Cohen

Managing Partner, Long Island Office

Nixon Peabody, LLP

We continue to be in a period of great uncertainty, and that uncertainty has ironically contributed to a buoyant M&A environment. Dealmakers are rushing to complete transactions in advance of impacts from the government’s continued printing of money to cover budget deficits as well as unpredictable foreign and domestic policies and outcomes. Buyers are done licking their wounds from acquisitions at inflated valuations, as a new generation of sellers actively market their companies. The business community has generally accepted that unprecedented low interest rates will not return anytime soon, but rates will likely remain moderate. Funds are flush with cash that they’re ready to deploy and, after a long period of stagnation, I expect emerging companies—particularly in the healthcare space—to receive renewed financial support. Lastly, following a year in which artificial intelligence grabbed myriad headlines across industries, I believe in 2025 we could see a major increase in game-changing business impacts from AI.

 

Matt Cohen, President & CEO

Stacey Sikes, Vice President of Government Affairs and Communications

Long Island Association (LIA)

The LIA is proud of how our organization and members contributed to Long Island’s economic growth in 2024, including advocating for policies that promoted a positive business climate, supporting projects that injected millions of dollars into our communities and created new jobs, , and introducing the L.O.C.A.L. Small Business Grants Program; a brand new initiative we led that provided direct grants to small businesses through the LIA Foundation, thanks to the generosity of Optimum Business, and in partnership with the Long Island Hispanic Chamber of Commerce (LIHCC) and Long Island African American Chamber of Commerce (LIAACC), all of whom sit on our Board of Directors. We are encouraged by progress our region is making in areas that have challenged us for years, including increasing the availability and accessibility of childcare to support the workforce, advancing strategies to attract and retain employees in high-growth industries like manufacturing, and fostering collaboration around water quality and waste management.

We need to continue this work in 2025 and beyond so Long Island is capitalizing on our world-renowned research and academic assets to be positioned at the cutting edge of emerging industries like AI, clean energy, and life sciences while remaining sustainable for future generations. We also should capitalize on opportunities that turbo charge economic activity, including transformational projects like Sands New York at the Nassau Hub, the redevelopment of the Ronkonkoma Hub in Suffolk County, and offshore wind projects in the pipeline including Sunrise Wind.

We must remain laser focused on our No. 1 priority that is essential to ensuring Long Island’s bright future: the existential crisis of affordability.

On the state and local level, lawmakers need to listen to developers and municipalities to increase and diversify our housing stock. And with the 2017 federal tax law expiring next year, we will work with our federal representatives and new leadership in Washington to forge ahead with repealing the cap on the SALT deduction and maintaining a competitive corporate tax rate.

In closing, the LIA does not care if an idea is a “Democratic” idea or a “Republican” idea, as long as it is a good idea. Let’s keep up the momentum and build upon our successes in 2024 to make 2025 even greater.

 

Maria Conzatti

Chief Administrative Officer

Nassau Community College

Nassau Community College is poised for an exciting 2025, with initiatives on the horizon that will support our community as a conduit of opportunity for learners of all ages.

Our strategic plan was designed to put the needs of students first, being mindful of our local economy and how NCC creates roads to success here in Nassau County, whether through career pathways in the trades or opportunities to continue toward a four-year degree at some of the best universities in the country.

With prestigious professors leading dynamic coursework and a host of facilities undergoing major revitalizations, we have focused our resources to look forward – to the needs of students today and in the coming years ahead. That’s how so many student athletes thrive at Nassau, as well as many first-generation college students who are seeking to build a future for their families through education and hard work.

There is so much to be proud of and excited for at NCC in 2025. Ultimately, it’s the light of the success of our students that continues to shine bright and showcase how NCC is a beacon of opportunity here on Long Island.

 

John Coumatos

Board President

Nassau Suffolk Water Commissioners’ Association

All water service providers carry the responsibility to deliver an uninterrupted supply of potable water to consumers. A major priority for 2025 and beyond is to collaborate with our elected officials to seek and secure funding to design, construct and maintain water treatment systems.

On Long Island, we’ve developed some of the most advanced water technology the nation has ever seen. As state and federal standards evolve, suppliers have intensified efforts to maintain water quality. When government issues unfunded mandates, the cost to comply falls directly on the supplier and the customer. The funding necessary to construct such treatment systems is enormous, and that cost burden should not fall on innocent rate payers.

 

Jennifer Cona

Founder & Managing Partner

Cona Elder Law PLLC

Elder Law is now a mature industry with plenty of competition. This includes attorneys new to the field (particularly since the real estate downturn) and non-attorney agencies handling Medicaid work. Typically, competition is good for consumers (vs. monopolies), but in this case, it has led to everything from sub-par services to legal malpractice to errors or failures costing families tens to hundreds of thousands of dollars in Medicaid mistakes. Those of us who are the elder statespeople in the field are called upon to fix these disasters, which we do, but at great cost both financially and emotionally to an already struggling family in crisis. Not what most of us have bargained for at that point in our lives.

Older adults, loved ones and caregivers need to beware: You get what you pay for. When it comes to the highly specialized field of Elder Law, which focuses on the unique legal issues affecting older adults as they age, encompassing estate planning, long-term care planning and asset protection, as well as major life decisions such as planning for future healthcare needs, it is not the time to be penny wise and pound foolish.

An estate and elder law plan is like a parachute: You only use it once, and you better be sure it works.

 

Robert C. Creighton

Managing Partner

Farrell Fritz

While the year opens with some degree of uncertainty, we are very optimistic about 2025. Our business clients share that optimism and, as a result, we expect to see an uptick in business transactions. If interest rates continue to normalize and inflation remains under control, we expect to see companies invest to grow their businesses.

We expect to see a vibrant M&A market fueled in part by pent-up demand and in part by the incredible reservoirs of capital that private equity firms will look to deploy. The real estate transactional market has been impacted by interest rates, but we expect to see developers continue to move ahead with transformative regional projects and as rates normalize, we expect to see increased activity in this market. We believe that there will continue to be consolidation in any number of industries including the healthcare and not-for-profit industries. For nonprofit organizations, in particular, the continued challenges of fundraising, navigating the regulatory environment and various governmental reimbursement regimes make it likely that larger, more financially sound organizations will be better positioned to advance the mission and conduct the programs of smaller organizations.

Finally, our trusts and estates lawyers will keep a close eye on developments in Washington, D.C. as the gift tax exemption is scheduled be lowered at the end of 2025. Regardless of the potential changes on the horizon, there are still significant incentives to consider gifting accumulated wealth in 2025.

 

Mark Cronin

Co-Founder

John’s Crazy Socks

We expect growth in 2025, though we face uncertainty. The new administration has expressed an interest in imposing tariffs on imported goods, which could adversely affect us because our socks are manufactured overseas. We work with some U.S.-based manufacturers, but our country lacks the capacity to meet demand, so tariff could mean moving production to other countries or raising prices.

At the same time, we are poised for growth. We are introducing a new kitting and assembly service that will allow us to meet the needs of area manufacturers and distributors.

The bottom line is that we expect to see growth in several areas though we face some uncertainty. There are always challenges, and we are determined to face them and overcome them to succeed. John—my son and cofounder of John’s Crazy Socks—always says that Down’s syndrome has never held him back. It is with this same energy and effort that we move forward into 2025 and remain focused on our goals.

 

Greg Demetriou

CEO

Lorraine Gregory Communications

As we approach 2025, colleagues and other small business owners that I have spoken to anticipate both exciting opportunities and significant challenges.

Evolving trends in technology, consumer behavior and economic conditions will continue to drive business expansion. With less emphasis on sustainability and social responsibility, small business owners are increasingly refocusing on bottom-line expectations rather than social agendas. This shift presents both an opportunity for differentiation and a challenge in balancing good corporate citizenship, acquiring a larger knowledge base, and implementing innovation.

AI will be the 800-pound gorilla in the room. FOMO is something all businesses will be dealing with as more and more assistance will be leveraged via AI. New ways to streamline operations, enhance customer experiences, and improve productivity will become universally available. However, there is a learning curve associated with adopting these technologies, and small business owners must stay ahead of the curve to remain competitive. Competition will be the AI battleground in 2025.

 

Lorraine DiFiglia

Director of Education and Learning

The Safe Center

As we enter 2025, as parents and local business owners, we must recognize the effect that social media has on children and adolescents across Long Island. In many instances teens may struggle to see the red flags in an abusive relationship. Some may sometimes view constant text messages and shared location services as a sign of affection, but in many cases, these behaviors are red flags that can eventually result in stalking and interpersonal violence. Your holiday gifts to your children might have included a new phone, laptop or tablet. As parents and caretakers, it is important to start these conversations and support our children as they begin their digital footprint.

The need for educational services—around online safety and privacy, bullying and more—have grown in recent years, and we see those trends continuing. We can help with student workshops to elementary, middle,and high school students that focus on privacy management and online safeguards.

 

Michael Dowling

President and CEO

Northwell Health

We are on the cusp of a different era both domestically and internationally, and that will lead to some disruption. The disruption will naturally bring consternation. But with disruption comes opportunity to innovate and adapt.

Healthcare issues will undoubtably be a major component of the discussion in 2025. As the major provider of healthcare in New York state, Northwell will continue to advance and address many of the biggest challenges in the industry.

This includes the need to grow and expand. Northwell is moving through the final regulatory process in our merger with Nuvance Health, a Connecticut system with seven hospitals and 14,500 employees.

The merger will create a multi-state health system with 28 hospitals, more than 1,000 care sites, 14,500 providers and 100,000 employees.

Enhancing care access to all patients and customers is another opportunity.

Competition is coming from non-traditional sources, as more retailers and technology companies push to get in on the nation’s lucrative $4.5 trillion health care market, by offering quick access via apps. This comes as patients demand more access.

Healthcare providers are also challenged by the reality that there’s a growing reliance on government insurers such as Medicaid and Medicare, which provide reimbursement payments that does not cover the cost of delivering the service.

Finally, healthcare leaders must be willing to make their voices heard on issues that could negatively impact public health, including gun violence, climate change and the importance of trusting science.

It will be a complex period, but we must stay positive and promote the values of decency, respect, integrity and honesty.

 

Randi Shubin Dresner

President & CEO

Island Harvest Food Bank

Last year presented challenges fueled by an exhaustive election season that seemed to dominate the news forever. High prices for groceries and other essential commodities and services didn’t help. Current events caused hesitation to discuss trending news stories for fear of engaging in contentious discussions.

Despite the noise around us, Island Harvest Food Bank remained true to its mission of ending hunger and reducing food waste on Long Island while advocating social justice for the most vulnerable people among us. That commitment is unwavering no matter who occupies elected office.

Our shared goal with corporate and community partners is to empower others to become productive, self-sufficient members of our society. Offering a ‘hand up’ rather than a ‘hand out’ is a paradigm shift in how food banks address food insecurity in America. This is exemplified in programs like our Workforce Skills Development Institute, Nutrition Pathways Programs and Healthy Harvest Farm, which are akin to ‘teaching a man to fish.’

We extend a ‘hand up’ because we can and because we all can. In 2025, let’s strive to care a little more, give a little more and find time to help a little more. Instead of making assumptions about someone’s need, ask: “How can I help you?” You might be surprised at the answer. Find a cause that resonates with you, your family, and your colleagues, and commit to it in 2025. Whether it’s offering professional support, funds, or a much-needed item, your contribution is invaluable.

As we look forward to 2025, I reissue the same call to action as last year: Let’s unite our efforts and reshape corporate and community culture for the greater good. Together, we can make a difference.

 

Robert Esposito

Founder

Relocators, Inc.

As a published author and founder of Relocators Inc.,  I watch the real estate market carefully. Most professionals involved in residential real estate saw 2024 as a challenging year with high interest rates and low inventory. In 2025, the real estate sector needs to be disrupted in a way that encourages real estate agents, mortgage professionals, attorneys and others to focus more on their clients.

This is the reason that I wrote my book, Nobody Move (Without Reading This), which will be published in January 2025. My book isn’t a collection of tips; it’s a comprehensive roadmap that bridges the emotional and logistical hurdles of moving.

Major transitions such as moving, the loss of a loved one, divorce and illness are life’s greatest stressors. Profesionals who interact with clients experiencing this stress need to be part of the solution. I am committed to changing the entire real estate process by educating professionals and removing the stress for home buyers and sellers. Nobody Move is a must-read for all professionals in the real estate sector and homebuyers before they start the moving process.

I am optimistic and the businesspeople I know embrace the TGIM (Thank God It’s Monday). We can’t wait to get to work, grow our businesses and play our part in economic prosperity here on Long Island.

 

Gina Farese

CEO

Marcor Construction and Marcor Solar

In 2025, I see the demand for residential solar installations increasing. While costs are always rising, solar is one way to stabilize energy costs for homeowners. However, solar needs to be installed correctly and the right financing options need to be used to secure savings over the long term.

We see Long Islanders already feeling more comfortable with spending money on home improvements. This is a reversal from last year where we saw a slowdown. There is a continuing demand for new housing on Long Island and we see this as an area of growth. At Marcor, we see families that want to buy new homes because they don’t want to deal with and spend the money on remodeling projects. This is why we are involved with new construction and development and remodeling of existing properties.

Quality home improvements contractors who offer fair pricing will always be busy. While land for development is scarce, we still expect to see developments continuing to be built. Long Island is a desirable place to live and raise a family for these reasons and other housing will remain in high demand. The companies that work hard to serve customers will find opportunities and generate more business. Customers must be warry and educate themselves, especially when looking to replace their home’s roofs. There are still issues within the roofing market where companies have limited production abilities and some that are on allocation, which make negotiating numbers on larger projects more of an obstacle.

 

Dr. Kerry Frommer-Fierstein

CEO

Allied Physicians Group and Adjuvant.Health

For Long Island to thrive, families need easy access to excellent medical care. Allied Physicians Group is growing our footprint in pediatric and adult primary care.  We expect to acquire a number of medical offices in 2024.

As the birth rate dwindles, pediatricians need to excel in service and marketing to attract newborns. Inflationary costs make it crucial for medical groups to be innovative, efficient and flexible to maintain the margins needed to be viable.

With 50% of children on Medicaid, the Medicaid unwinding will cause NY children to lose coverage. Our practices will continue to reach out to families to help them maintain coverage.

Vaccinating New York families remains a high priority even as vaccines are getting more expensive for practices in time, energy and lost value of money.

COVID vaccine privatization created significant burden and expense on primary care.  Newer expensive vaccines, such as those against RSV, will be in demand, and it is critical that physician practices are paid properly.

Hiring in healthcare remains challenging.  Some of our offices have reduced hours due to staff shortages. Virtual assistants and remote workers will take on greater significance.

 

Alex Forden

Founder

Forden & Co. Builders

The Hamptons construction market is on track for increased volume in 2025 given a host of recent positive market factors—the incoming administration and policies, recent interest rate cuts by the Fed, and the dissipating black cloud of uncertainty—all promoting purchases and trades of valuable properties, trickling into new builds and significant renovations. The low volume of available assets and abundance of fear held Q4 purchasers somewhat paralyzed, while the election results and stock market rally has renewed Bullish tendencies as purchasers recognize that values will most likely skyrocket to unprecedented levels. Material costs continue to hold at record high levels but haven’t dampened the high end custom home construction industry.

All in all, 2025 is shaping up to be a tremendously busy year.

 

Joanna Formont

Executive Director

SIBSPlace

With the Childhood Estimation Model (CBEM) reporting that 1 in 14 children in New York will experience the death of a parent or sibling by age 18 in 2024, the need for and expansion of community-based bereavement services is evident. Having programs available to help children process their loss is important, but also equipping school-based mental health professionals with the skills and tools to lead groups at school would ensure this vulnerable population is receiving the support needed to help them during this family crisis. Initiating a model where children can receive mental health support while in school will help them express their grief and connect with peers in their school environment who have also experienced a loss. This support is essential in helping the children validate and normalize their feelings, thoughts and questions; while building the coping skills needed to manage this loss and challenges they may face in the future.

In 2025, we will continue to develop relationships with corporations and community groups to help support programming through fundraising campaigns, grant support and in-kind donations. These collaborations and partnerships will spread community awareness and help members of the community connect to our mission through hands on and financial support.

 

Patricia Galteri

Managing Attorney

Meyer, Suozzi, English & Klein, P.C.

Developing trends in the sphere of data privacy and cybersecurity are expected to reshape the legal profession. With the increasing digitization of legal practices and the rise in cyber threats, understanding and navigating data protection laws will become paramount. Lawyers will need to stay updated on evolving regulations, such as the General Data Protection Regulation (GDPR) in Europe, upon which many of our state data privacy laws are modeled, to effectively advise clients on compliance and risk management.

Additionally, the growing occurrence of data breaches, cyberattacks and the attendant need for cybersecurity insurance are compelling law firms to prioritize cybersecurity measures. Attorneys will not only need to protect sensitive client information but also guide clients on how to respond to data breaches and implement robust cybersecurity protocols. This will require a deeper understanding of both legal and technical aspects of cybersecurity, creating a demand for attorneys who can bridge these fields.

Another area soon to become commonplace is the increasing reliance on generative artificial intelligence (AI) in legal research and document review. AI tools are becoming more sophisticated, allowing law firms to enhance efficiency and reduce costs by automating routine tasks. However, realizing that AI cannot replace an attorney’s professional judgment, experience and human creativity, but can only aid and accelerate the performance of legal services is paramount to a successful transition to the use of AI tools. This shift is expected to not only streamline workflows but transform skill sets required of young and seasoned attorneys by requiring an equal emphasis on substantive law and tech-savviness.

 

Dan Goosk

Director of Lending

Ocean Financial Federal Credit Union

The outlook for home lending in 2025 has multiple variables:

1. Interest rate environment: If rates decline, it may stimulate home buying and refinancing activity. If rates remain elevated, it will reduce the affordability for borrowers.
2. Affordability: A continued lack of inventory in many markets could keep prices high, making affordability a significant barrier for first-time buyers. To combat this, we may look to continue to offer ARM (Adjustable-Rate Mortgages), which could attract borrowers.
3. HELOC or fixed home equity activity: Given the high rates, lack of inventory and economic uncertainty many will continue toward home equity products. These products provide the flexibility to make their home into what they want and not have to purchase another home. Given most people refinanced their home in 2020-2022 they have a very low first mortgage rate, which they will not want to touch. The home equity product also facilitates the ability to consolidate debt, which may have become a burden during the recent high inflationary period.

We are expecting 2025 to be an auto loan refinancing boom. For those who may have financed a vehicle in 2022-2023, those rates were most likely at the high end of the rate market. We would expect those members to be looking to refinance at a lower rate which could be somewhere around a 200 bps reduction.

Consumers were heavily reliant on credit for everyday needs given the high interest rates and inflation which drove up credit card debt to over $1.14 trillion with average rates around 22-23%. Lower personal loan rates could significantly improve the members’ cash flow situation by consolidating debt.

 

Dawn Harmon

Director

Reworld

As we look ahead to 2025, we continue to focus on smarter, more sustainable waste solutions. Each year, our Long Island facilities divert 1.88MM tons of waste from landfills, transforming refuse into valuable resources while significantly reducing greenhouse gas emissions.

Our focus for the year ahead includes advancing our waste to energy technologies and innovative material recovery processes. These efforts help reduce carbon footprints and contribute to the broader transition to a circular economy. By refining operational logistics and expanding the reach of these systems, we can enhance their environmental and community impact.

Beyond technology, fostering a culture of sustainability remains central. In 2025, we plan to strengthen partnerships with our local communities through more educational facility tours and supporting collaborative initiatives through partnerships designed to inspire sustainable practices and shared accountability for the environment. It is incredibly inspiring to see how passionate Long Island student and community action groups are about environmental protection and building a sustainable future. One of our corporate missions is to use our resources to empower the next generation, and we see 2025 being a strong year to continue activating that mission.

 

Ray Ann Havasy

Founder and Director

Center for Science

The adoption and wider use of AI has begun to transform education and business.  In 2025 we expect the impact of AI to continue and for it to be used in different ways.

Experts project that 2025 will see a continued high demand for STEM jobs, with a growing focus on personalized learning experiences utilizing technologies like AI, VR/AR, and multimodal learning. Making STEM education more accessible and engaging for diverse learners, while also addressing the need for a more diverse workforce through targeted outreach and initiatives will be critical.

It is my hope as the head of a science organization, that parents take a stronger interest in their children’s education including nurturing their interest in science in unique, interesting and fun ways. When planning family vacations, staycations or sightseeing at faraway places, including science is a powerful way to connect children with the natural world around them and far more impactful than leaning through a screen.

Locally on Long Island, we have an abundance of ecology centers, parks, preserves, museums and attractions, which will continue to attract families and school groups and are invaluable centers of learning.

Continued outreach to families and groups is essential to fostering interest in science from an early age–though it is never too late to start—and respect for the environment, which provides so much of what we Long Islanders enjoy in our lives.

 

Katherine Heaviside

President

Epoch5 Public Relations

Public Relations is evolving, ushering in a pivotal era where building and safeguarding reputations for companies, nonprofits, associations and individuals is more critical than ever.

As technology accelerates, our ability to gather insights has made research more accessible, rapid communication more efficient and relationship management more scalable; these same innovations introduce significant challenges.

Unvetted AI research can lead to dangerously inaccurate information. Speedy communication often clutters inboxes with irrelevant noise, and the proliferation of connections risks reducing meaningful relationships to surface-level interactions.

Today’s PR professionals are not just storytellers, but stewards of trust and influence. We are tasked with navigating these pitfalls–countering misinformation, cutting through the noise and forging genuine connections – all while crafting strategies that protect and enhance reputations.

This responsibility isn’t just a challenge; it’s an opportunity that we embrace. Equipped with the right tools, insights and expertise, we are poised to help clients thrive in this new era and ensure their reputations remain their most valuable asset.

 

Marc Herbst

Executive Director

Long Island Contractors’ Association

Hope feels like driving east on the Long Island Expressway on a summer morning, the sun rising over the Pine Barrens, promising a beach day ahead. Even when the road gets bumpy—literally and figuratively—we keep moving forward. That’s the mindset we’re bringing into 2025: hopeful.

But Long Island’s roads and bridges have seen better days. Potholes, crumbling shoulders and aging overpasses tell a story of neglect. Once a showcase of modern infrastructure, Long Island now faces decades of underinvestment. About 15 years ago, Albany changed how it calculated the state Department of Transportation (DOT) capital budget and disbursements for each region. This shift gradually reduced Long Island’s share from 23% to less than 10% today. The impact has been devastating.

Yet hope is not just optimism—it’s action. At the Long Island Contractors’ Association, we’ve mapped out a three-point plan: creating a Long Island Metropolitan Planning Organization to prioritize regional needs, increasing the DOT budget by $800 million to meet demands and restoring the Suburban Highway Infrastructure Program to fund essential repairs.
There’s reason to believe change is coming. These priorities have gained momentum through The People’s Budget, supported by the Black, Hispanic, Puerto Rican, and Asian Caucus in Albany. Federal infrastructure dollars also offer new possibilities. Long Island has always been a place of dreams and opportunity. As we approach 2025, let’s fight for the roads and bridges that connect us to each other and our future. With hope and determination, we can build something better.

 

David Heymann

Managing Partner

Meltzer, Lippe, Goldstein & Breitstone LLP

With the presidential election behind us and the Republicans in control of both the Executive and Legislative branches (and, depending on who you ask, the Judiciary branch) of government, there is an expectation that they will seek to make good on their promise to create economic stimuluses, lower taxes and reduce inflation. Further, I would expect that antitrust regulations will loosen and efforts will be made to lower interest rates. All of this should result in increased M&A and commercial real estate activity. Potentially counteracting this optimism is the effect tariffs and lack of low wage employees may have on consumer goods.

For the legal industry, it is likely AI will continue to be implemented into both how we manage our business as well as how we practice law. Privacy and accuracy issues still need to be seriously considered when, if and how to use AI.

Also, I would expect 2025 to be a good year for the legal profession overall as transactional practice areas should have a robust year for the reasons noted above. Other areas should continue to remain strong, particularly the increased demand for Medicaid planning and estate planning, labor and employment issues, and general commercial litigation.

 

Peter Hoffman

Partner, Health Care

Industry Team

Harris Beach Murtha

Healthcare compliance remains a focus for both the federal and New York State governments. In New York, the Office of the Medicaid Inspector General’s (OMIG) revised compliance program regulations are now 2 years old. We expect OMIG to continue and possibly expand its compliance program reviews to assess provider and supplier compliance under the regulations. On the federal side, the Office of Inspector General (OIG) issued new compliance program guidance in 2023 and 2024, and we expect additional guidance to be issued in 2025.

Additionally, the Centers for Medicare and Medicaid Services (CMS) recently announced a final rule changing the definition of when Medicare Part A and Part B providers and suppliers are considered to have “identified” an overpayment–a critical factor in determining when the overpayment must be reported, returned and explained.

Effective Jan. 1, 2025, CMS’ new rule states that an overpayment is “identified” when a provider or supplier has actual knowledge, acts in deliberate ignorance, or acts in reckless disregard of an overpayment. This rule aligns with the federal False Claims Act and replaces the prior rule that stated an overpayment would be considered “identified” when the provider or supplier determined or should have determined through reasonable diligence that they received an overpayment and quantified the amount. It will be interesting to see how New York responds to the change in the Federal rule. As health care compliance continues to mature in 2025, providers and suppliers should re-double their efforts to ensure the effectiveness of their compliance programs to avoid or mitigate adverse consequences.

 

Richard Humann

President & CEO

H2M architects + engineers

Driven by regulatory shifts, innovative technologies, and the growing demand to modernize aging infrastructure, the architecture and engineering sectors are poised for transformation in 2025.

One key trend will be addressing the Environmental Protection Agency’s evolving water quality requirements. The expansion of Advanced Oxidation Process (AOP) systems to combat emerging contaminants like 1,4-dioxane, alongside replacing lead and copper piping nationwide, will remain a priority. These initiatives reflect a broader push to protect public health while leveraging creative, cost-effective solutions to accelerate implementation timelines.

Adaptive reuse will continue to be the gold standard for developing in places like Long Island with limited amounts of open land. By transforming underused office buildings into mixed-use developments that balance residential and retail uses, builders can further bolster opportunities for small business owners on Long Island while simultaneously addressing the need for diverse housing in an efficient way. The recently-approved Melville Town Center Overlay District, located in the Town of Huntington, is one example of how developers can accommodate a growing populace with diverse housing and lifestyle needs. This practice can likewise be applied to everything from healthcare facilities to retail grocery outlets, allowing communities to better preserve their open space by reusing already-developed land and helping developers save money and create less construction and demolition waste.

Transit-oriented developments, such as the ongoing Station Yards project in Ronkonkoma, address the need for commuter-friendly communities on Long Island. These developments are designed so that residents can easily access their local Long Island Rail Road Station and engage with a variety of local businesses without having to climb into a car. This ends up reducing traffic into and out of New York City and mitigating the toll of cars on our infrastructure, addressing a common community concern with traditional multi-family housing developments.

In 2025, we are also focused on inspiring the next generation of architects, engineers and construction professionals. Addressing Long Island’s aging infrastructure requires a robust workforce equipped to embrace new technologies and tackle complex challenges.

By engaging students and young professionals, we can cultivate the creative visionaries needed to lead the industry into the future.

 

Allison Johs

Co-Founder

Mediation Solutions of NY, LLC

Mediation and arbitration, collectively known as Alternative Dispute Resolution (ADR), will continue to rise in 2025. The ability to conduct and attend hearings virtually makes ADR even more attractive to litigants and lawyers alike. Appearing virtually from the comfort of your own home or office significantly reduces both the time and costs required to get disputes resolved.

AI and other technology innovations will continue to have a major influence on the legal industry in 2025. AI will continue to be built into tools lawyers use to do their work on a daily basis, and even more new legal-specific AI tools will be introduced. These tools can help lawyers to automate reviews and summaries of documents such as medical records and deposition transcripts and perform tasks such as creating contracts or analyze other data.

While some firms are returning to more in-person work, hybrid work arrangements will likely continue in 2025. The proliferation of both AI and hybrid work mean that lawyers and their clients will be relying even more heavily on the Internet. With cyberattacks on the rise, including cyberattacks on law firms, even solo lawyers will need to place more emphasis on cybersecurity in 2025, implementing cybersecurity policies and hiring firms to conduct cybersecurity testing.

Finally, the reduction in hours that results from the use of AI and other technology tools will push more lawyers–and their clients–to pursue alternative fee arrangements in place of the billable hour.

 

Michael T. Joy

Partner-in-Charge,

Long Island EisnerAmper

Although it’s difficult to determine what will occur over the next year, as accountants and advisors, we always remain aware of current economic and political developments and how they may impact our clients.

There is an expectation that, due to President Trump’s re-election, there will be a focus on extending the provisions of the expiring 2017 Tax Cuts and Jobs Act (TCJA). Extending these provisions will result in the continuation of various deductions, credits, and other incentives for businesses and individuals. This will require agreement from lawmakers; it may not be accomplished in one bill as they also may need to consider the president-elect’s tariff proposals and their related issues. If the TCJA provisions are extended it will reduce the need for revisions to current tax planning strategies. We will continue to communicate with our clients regularly to help guide them through the evolving tax laws and how they impact their business and personal goals.

The accounting profession continues to evolve and so does the consolidation of firms that has occurred over the past few years. Due to an aging population of partners at many small and mid-size firms, the challenges of succession planning, staffing shortages, and increased valuations of accounting firms due to private equity investments, many firms have decided a merger with a comparable size firm or much larger firm makes the most sense. Consolidation usually results in access to improved technology, including automation and artificial intelligence, and access to a larger talent pool spread across the country or even around the globe. These benefits may also lead to an increase in hiring abilities and the ability to retain existing talent allowing these firms to continue to service their clients with the expertise needed.

 

Lawrence Kadish

President and Founder

The Museum of American Armor

The year 2025 will observe the 80th anniversary of the end of World War II, a conflict that continues to define our world; from our dependence on technology to the drawing of national borders. Yet few students in today’s classrooms know of, or appreciate the legacy of that war. The coming year offers an opportunity for museums, educators, and institutions to use this milestone anniversary to instruct an emerging generation of what legacy their great grandparents left them.

There is now a shared effort underway in Nassau County that brings together The Museum of American Armor, The Cradle of Aviation and Education Center, the Holocaust Memorial and Tolerance Center and the Long Island Council for the Social Studies to create a series of programs and initiatives throughout the year to create an awareness that goes beyond knowing simple dates and specific battles. Students need to understand the root causes of the conflict, America’s response and its lasting impact including the emergence of civil rights, a dynamic middle class, suburbia, and of course, our role of a global superpower.

At a time when history curriculum continues to be shortchanged by state education officials, the 80th anniversary of the end of World War II can act as a firewall against the illiteracy 21st Century student regarding how we came to be who we are.

 

Steven Krieger

CEO

B2K Development

The year 2025 will challenge B2K to remain strategic, agile and visionary in how it continues to approach development opportunities on Long Island and elsewhere in regions of the country we have identified as open to growth. While we have a number of developments in the pipeline regarding our strengths in residential, commercial, senior livin, and healthcare, we will be particularly focused on opportunities that meet unique market needs in specific geographic areas.

In the new year we expect continued robust activity in the sale of condo units at our residential complex in Long Beach, The Boardwalk, and in rental units at The Breeze, as well as our Sutton Landing apartments in Commack and Sutton Landing in Patchogue.

An additional B2K focus will be on the actions of the federal reserve as their decisions regarding the cost of money will have an impact on virtually every aspect of real estate, regardless of project, location, or potential. That requires B2K and the rest of the real estate community to be deliberate in considering how and where it launches new projects.

B2K’s construction division has become the “go to” third party for a number of development firms that seek our expertise that uniquely appreciates the urgency of meeting deadlines, staying within budgets, managing labor and anticipating potential supply line challenges. In 2025, we expect further growth in this sector of our company as additional firms rely on our track record of success in the New York metro area.

 

Evan Krinick

Managing Partner

Rivkin Radler LLP

The trends that impacted law firms in 2024 will be accelerated in 2025. Leading the charge will be increased utilization of technology–primarily artificial intelligence–into the day-to-day provision of legal services. While legal technology can never replace the nuanced judgment of attorneys, it can and will become an essential tool that clients will expect their lawyers to incorporate into their practice.

The strategic integration of all aspects of technology with human expertise will be at the core of reducing client costs and increasing attorney efficiency. Whether through technology or old fashioned values, client satisfaction is derived from attorneys being responsive, accessible and candid.

The change of administrations in Washington will drive the growth of crypto currency and the concomitant need for legal guidance. Other areas, such as immigration, will also see a rising need for legal services due to expected legislative and regulatory changes. New tax policy will also drive legal demand in the wealth transfer area. Litigation will remain robust, and there will be a rise in the activities of state and local governments to compensate for expected curtailment of federal programs and benefits. The local real estate and banking sectors will slowly return to action but only in the latter stages of the year.

Cyber security remains on the top of the list as the issue most likely to keep law firm leaders up at night.

I wish everyone a healthy and prosperous 2025.

 

Elissa Kyle

Placemaking Director

Vision Long Island

While we don’t yet have data on the number of crashes on Long Island that occurred in 2024, it is likely that the numbers will still be unacceptably high.  The previous year saw over 35,000 crashes, with over 11,000 injuries and 130 deaths.  Some may see this as unavoidable, the cost of doing business, or just the result of an individual’s poor decisions.  However, many of these crashes are avoidable and even preventable with road designs that make it harder to drive recklessly and easier to do the right thing.

2025 is the year to make widespread changes to improve safety on our roadways.  Many municipalities have received funding from the Safe Streets for All (SS4A) program over the last few years for safety action plans.  These, plus Suffolk County’s Hike Bike Master Plan completed just before the pandemic, provide guidance for what comes next.

NYS Department of Transportation manages the most dangerous roads on Long Island and has an opportunity to improve safety through road design using traffic calming measures.

Now is the time to put these plans into action.  Improving safety and comfort for people walking and biking in our neighborhoods and downtown areas is crucial for our physical, mental and economic health. When people feel safe and comfortable walking and biking to stores and other destinations, they visit more frequently and spend more time and money over the course of a year.

Improvements made to Queens Boulevard (aka the “Boulevard of Death”) have resulted in 68% fewer fatalities and between 35-45% fewer injuries.  The same can happen here.  If we do not begin to make widespread changes across our roadways to reduce speeding and improve safety we will likely see another year with thousands of injuries and hundreds of deaths that could have been prevented.

 

Sarah Lansdale

Chairperson

Suffolk County Industrial Development Agency

Suffolk County’s economy is once again projected for continued growth in 2025, building on a successful 2024. The Suffolk County Industrial Development Agency (IDA) remains focused on fostering economic expansion through strategic financial assistance that leads to transformative investments for local communities.

In 2024, SCIDA-supported projects drove almost $157 million in private capital investment while retaining 1794 jobs and creating 110 new positions, supporting an annual payroll of more than $198 million. The agency’s 143 active projects, valued at $2.6 billion, have created 13,085 jobs, placing Suffolk County second in the state, just behind New York City. All of these new projects represent a continued commitment to revitalize underutilized properties and/or improve existing ones into thriving tax and employment generators.

Addressing workforce needs, SCIDA continues its support for the development of additional housing units through our first-of-its-kind Affordable Housing Policy, which launched in 2023 with the purpose of expanding housing options. The policy prioritizes veterans and individuals with intellectual or developmental disabilities, ensuring equitable opportunities for Suffolk’s diversity of populations.

Renewable energy initiatives will also drive growth in 2025.

Through County Executive Edward Romaine’s leadership, Solar Up Suffolk program launched in 2024. The SCIDA partnered with Suffolk County to enhance support for solar energy projects, aiming to make renewable energy more accessible for businesses. By offering incentives like enhanced PILOT agreements, the program encourages solar adoption, fostering sustainability and economic resilience.

 

Jennifer Lavern

CEO

Auraa Unlimited

Public speaking has rebounded considerably since the 2020 pandemic, when the industry was literally halted. 2025 projections are that the industry will soar to $2.3 billion surpassing pre-pandemic levels.

The current upward trend will persist with in-person events enjoying robust growth. Virtual platforms will continue  evolving.

Audience demand will drive industry growth. Today’s chaotic climate presents the perfect opportunity for savvy communicators to innovate.

Storytelling will dominate. Presenters with the ability to deliver with passion will emerge as the difference-makers.

The concepts of vulnerability and authenticity will be more than buzzwords. They’ll signal a melding of the professional and personal aspects of a business, offering a balanced approach to brand management.

Subject matter experts will address business professionals’ needs, providing in addition to curated content, ancillary services via podcasts and webinars.

Expect a surge in online leadership courses and an uptick in the self-publishing industry.

The brightest spot on the 2025 speaking landscape? Women-business-owners. This underrepresented category has finally been ushered to the forefront, undoubtedly aided by the recent general election cycle. Articulate and vibrant, they’re uniquely qualified to disrupt the status quo, bringing to the stage years of experience. Having successfully navigated the corporate, private and nonprofit sectors, they are coaches, workshop presenters and mothers with a singular aim—to empower other women to lead with intention.

This forecast is brimming with possibility for Long Island. Strategically positioned and easily accessible with its own airports, the Long Island hub—boasting more than 90,000 small businesses—is an attractive alternative to NYC’s venues.

 

Diana Lillo

Founder

Inspire Design, UpRight Work Projects and Moss Wellness Workspace

Commercial real estate in 2025 will be defined by tenant-centric amenities. As leasing activity picks up, landlords must compete by offering more than just space. Expect to see buildings with soothing designs, incorporating natural elements (biophilic design) to enhance employee well-being and entice a return to the office. Onsite cafes, collaborative spaces, fitness centers and outdoor areas will be key. These upgrades—often achievable with minimal investment—improve the tenant experience while boosting property value. Landlords who prioritize these features will be well-positioned for success in the evolving market.

 

Joel Lipsky

CEO

Lipsky Construction

As we approach 2025, the construction industry presents a mixed but optimistic outlook, with insights drawn from both state-specific data and national trends.

The construction landscape in 2025 presents a combination of significant opportunities and notable challenges. The residential and multifamily sectors are set to experience robust growth, driven by increasing demand for housing and investment in new developments. Retail and healthcare construction will also see substantial gains, as retail consumer confidence strengthens and funding for medical infrastructure continues to rise.

However, urban markets, particularly in New York City, may face ongoing difficulties due to high costs and complex regulatory environments and low labor availability. Meanwhile, the slight decline in warehouse and industrial projects may be signaling a stabilization after years of rapid expansion, necessitating strategic adjustments within this sector.

In terms of regional dynamics, Nassau and Suffolk Counties stand out as areas of promise, with strong performance in construction employment and activity. These suburban markets may provide a counterbalance to urban slowdowns, highlighting the importance of resource reallocation and strategic focus on thriving areas.

The New York State Associated General Contractors (AGC) recently released a construction industry report by their Chief Economist Ken Simonson highlighting some of New York’s changes from 2023 to 2024.  Most notably are the following.

• New York City: Construction employment experienced a notable decline of 6% from August 2023 to August 2024, underscoring challenges in urban construction markets.
• Nassau and Suffolk counties: In contrast, construction employment rose by 5%, reflecting growth in suburban and regional markets.
• Statewide growth: Overall, New York State construction activity grew by 4%, a positive indicator of resilience in the industry despite regional disparities.

 

Carolyn Mazzenga

Office Managing Director

CBIZ (formerly Marcum LLP)

As we approach the New Year, several trends and developments are poised to shape the accounting industry and our community. I believe merger and acquisition (M&A) activity will continue in the coming year. Businesses will look for growth opportunities. Long Island’s established businesses will continue to be desirable acquisition targets, which leads to increased demand for accounting professionals with expertise in valuation, due diligence and post-merger integration, in addition to traditional accounting and tax services. Navigating these complex transactions will require a deep understanding of both financial and strategic considerations.

In addition, the ongoing digital transformation will continue to be a driving force. The adoption of advanced technologies such as artificial intelligence and machine learning is expected to accelerate, enabling more efficient and accurate financial reporting, fraud detection, and compliance management. Accountants will need to stay abreast of these technological advancements to remain competitive and provide value-added services to their clients.

The regulatory landscape is also anticipated to evolve, with potential changes in tax laws and reporting standards. Accounting professionals must be prepared to navigate these changes and guide their clients through the complexities of compliance.

Overall, the New Year presents exciting opportunities for the accounting industry. By embracing innovation and staying informed on regulatory changes, accountants can position themselves for success and make a positive impact on clients and community.

 

Jim McCann

Founder & Chairman

1-800-Flowers.com, Inc.

After a long hiatus, this year brought a nearly full return to office and an increased enthusiasm for human connection. As a relationship-based company, our relationships with team members are the cornerstone of our business and this relationship translates directly to our community of consumers and ultimately the success of our business.

Companies are beginning to deeply understand that investing in employees creates a more agile workforce, positions organizations to adapt quickly to changing business needs and ensure we remain competitive.

This year we started to introduce innovative tools to engage and empower our 5,000-plus associates across the country, ensuring seamless collaboration and continuous learning. We reinvigorated “Fresh University,” a learning program that keeps our associates connected, engaged, and continuously developing. By offering flexible, accessible learning options, we enhance associate engagement, all while building a more adaptable and resilient workforce.

As we embrace the transformative power of community, in a rapidly evolving landscape of technology, I have always expressed and will continue to emphasize, the human touch remains irreplaceable.

Looking forward, let’s approach 2025 with a commitment to investing in—and developing our team members and community intentionally, these investments ensure the future success of your business.

 

Richard L. McCormick

Interim President

Stony Brook University

I am privileged to have joined the Stony Brook University community and to provide leadership for this outstanding institution. As a New York flagship, Stony Brook looks to continue to increase our growing enrollment, attract more federal and state research funding and make a profound impact on the economies of Long Island and New York State.

We have institutional challenges to address as well. They include investing in the university’s facilities to bring our buildings, housing and labs to the level that a flagship university needs and deserves. We also look to expand and encourage more interdisciplinary research throughout the university and make strategic decisions about increasing our enrollment as a first-choice destination for students.

Stony Brook is also establishing the Stony Brook Future Scholars Program. The program will identify 100 or more rising eighth graders who are enrolled in disadvantaged local school districts on Long Island. We would mentor these students through their high school years and encourage them to take courses that will prepare them for college. The students will also visit our campus frequently, both during the academic year and summer, for programs that will allow them to experience university life. Then, those students who graduate from high school and are accepted at Stony Brook will have free tuition.

I am teaming with our faculty, researchers, administrators and staff to make 2025 one of the best years the university has ever experienced.

 

John McGuigan

CEO

The People’s Arc of Suffolk

The People’s Arc of Suffolk County, formerly AHRC Suffolk, empowers people with intellectual and developmental disabilities to live full, meaningful lives. With a mission rooted in advocacy, education and breaking barriers, we strive to create opportunities for inclusion, independence, and success.

Our recent rebranding to the People’s Arc reflects a renewed commitment to placing people at the heart of everything we do. A shining example of this dedication is our new performing arts center in Northport, which is not only a hub for creative expression but also a platform for building confidence, celebrating talents and fostering community connections.

As we look forward to 2025, our vision remains steadfast: to expand the reach and impact of our programs, empowering more people to achieve their fullest potential. From innovative housing solutions to cutting-edge vocational training, we aim to continue opening doors and shaping brighter futures.

 

Robert Misseri

Co-Founder

Paws of War

With a new administration coming in 2025, change is certain. Many feel the economy will make a positive turn. However, booming economic conditions do not matter to veterans and first responders struggling with PTSD and mental health illnesses. When costs go up for rent and basic goods, the heroes we serve, many who are on fixed incomes, struggle even more. Whether the economy is good or bad, non-governmental organizations always step up for our heroes in need.

There continues to be a mental health epidemic for veterans. Resources are available; however, many veterans do not know how to find and access these services. In 2025, we will work with our allies in veterans’ services to do more for our heroes.

While we are optimistic about the future, many companies are still recovering from the pandemic and inflation. Many are giving less making fundraising challenging.

We are seeing a rebirth of patriotism in America. Groups and individuals want to do more to help veterans and first responders. They recognize that dogs play a critical role in enhancing the mental health of veterans and these animals truly save lives. It’s costly to rescue dogs and cats from around the world for our veterans, first responders and active military and provide service dog training. However, at Paws of War, we have a noble mission and are proud of the work we do. We ask that you never forget their sacrifice and do what you can to help our heroes in their times of need.

 

Deirdre O’Connell

CEO

Daniel Gale Sotheby’s International Realty

I’m optimistic that the New Year will bring renewed momentum to the housing market. Historically, the housing market tends to perform well after a presidential election, no matter who takes office. Currently, we are seeing steady market activity across all price ranges. The long-awaited increase in available home for sale could finally begin to happen this year.

Buyers have adapted to higher interest rates and are poised to buy when the right home comes to market. Many sellers, although hesitant to let go of their favorable low-interest mortgages, are beginning to get impatient and want to move on, which will assist in increasing inventory.

On Long Island, the high tax burden is prompting some homeowners to relocate or downsize to more manageable properties. At the same time, those who moved off-Island during the pandemic for remote work are now returning as in-office work resumes. Additionally, Millennials and Gen Z buyers are seeking larger spaces to accommodate growing families.

One thing remains clear: Long Island’s unmatched appeal—from its proximity to New York City and scenic coastlines to its excellent schools, diverse housing options, and quality of life—continues to attract residents of all ages who want to make it their home.

 

Carl Oliveri

Partner, Construction Practice Leader

Grassi

Building on the momentum of 2024, the Long Island construction sector is poised for further growth in 2025. Expect the following trends to continue:

As our population grows and demographics shift, the need for modernized housing becomes increasingly apparent. This presents an opportunity for more residential construction, particularly in areas with easy access to transit hubs and affordable amenities. The success of Station Yards serves as a promising model for others to emulate.

With housing solutions in place, the next crucial step for Long Island is to develop the necessary infrastructure to connect people to their workplaces and other destinations. While it’s no secret that our roads, rails, bridges and tunnels need repair, projects such as Gateway Development are already paving the way for a new era of infrastructure development. With federal funds finally being released, we can expect significant improvements to Long Island’s infrastructure in the near future.

The skills shortage in construction is well documented but not as well discussed because an aging ownership group does not necessarily want to transition to the next generation. In 2024, we have seen the emergence of transitioning to alternative ownership structures, such as private equity and Employee Stock Ownership Programs (ESOPs). These structures allow for more efficient management and can attract younger talent. For 2025, we expect to see this trend continue.

 

Christopher Palmer

Managing Partner

Cullen & Dykman LLP

I am confident 2025 will be a year of significant growth and transformation for regional law firms. Oftentimes, our clients find themselves forced to navigate unanticipated nuanced issues. As a result, regional law firms are uniquely positioned and qualified to provide tailored solutions and personalized service to meet our clients’ needs. Bellwether law firms possess a deep understanding of the markets in which our clients operate. With a strong commitment to building relationships, we are well-equipped to help our clients’ bypass any hurdles in the way of their success and capitalize on emerging opportunities. Advancements in technology, such as artificial intelligence and automation, will further enhance efficiency and productivity, allowing lawyers to focus on providing our clients with the best value.

Regional law firms are also prioritizing innovation and embracing alternative fee arrangements to meet the evolving needs of clients. By adapting to the changing legal landscape and leveraging our strengths, law firms are poised to grow and thrive in the year ahead. The state of the legal industry is strong!

 

Alan Petrilli

Long Island Region Manager, Middle Market Banking

JPMorganChase

As 2024 draws to a close, my team and I are speaking with business leaders across Long Island about their plans for next year. In nearly every conversation, we’re hearing something refreshing: optimism. By and large, business leaders believe government and regulators will be more business friendly next year—and, as a result, they have more confidence in their industries and the strength of the national economy, driving ambitious growth plans.

This optimism is somewhat tempered by clear eyed thinking about potential headwinds. Geopolitical risks—tariffs and related currency fluctuations, combined with the potential for spreading military conflicts—are top of mind. Given this global landscape, many businesses on Long Island are evaluating their supply chains and international expansion plans.

They are also keeping a close eye on their talent strategies and consumers’ spending habits as a gauge for economic health. According to consumer surveys by JPMorganChase, while there is improving consumer sentiment—with just over half of consumers anticipating a rise in pay in the next six months—there is also caution, with 50% of consumers planning on reducing discretionary spending in the next year.

 

Walter Poggi

President/CEO

Retlif Testing Laboratories

As a testing services provider that works with many Long Island manufacturers within several different business sectors and verticals, we see several outside influences that may impact each of them, and one issue that impacts them all.

The commercial aviation sector remained quite stable for the past 12 to 18 months yet can be most impacted by outside events at any time. A strike, investigations, in-flight incidents, or anything that forces major aircraft manufacturers attention off normal production can have an immediate negative impact. Defense contracting has a long and strong history on Long Island, and we see this sector remaining stable with the possibility of some modest growth. Within this sector there is a major effort by the government to increase the production of submarines and this can drive growth in this sector.

Rail and transit projects are usually part of long-term expansions and improvements, with government money in place to support them. Congestion Pricing can potentially provide funding for additional projects, either addressing new technology or “speeding up,” regularly scheduled maintenance and replacement programs.

I believe that one of the greatest impediments to growth for many companies on Long Island, especially manufacturers and service providers who support them, is the lack of qualified trade employees such as mechanical and electrical technicians, machinists, and assembly line personnel…jobs that are in high demand. It’s incumbent upon high schools, trade schools and career schools to do a better job in training and developing the building blocks for these young people to learn these types of positions. There are plenty of employment opportunities on Long Island, yet a shortage of skilled labor.

 

Susan Poser

President

Hofstra University

As we look ahead to 2025, higher education faces a pivotal moment. Shifting demographics, marked by a decline in the number of college-aged students, challenge universities to deliver greater value and adopt bold strategies to remain competitive. Rising concerns over the cost of education, campus culture, and outcomes intensify calls for institutions to prove their relevance and impact. Amid these shifts, higher education has an opportunity to evolve, embrace innovation, and reaffirm its role in preparing students for a rapidly changing world.

The broader higher education industry could also be reshaped by shifts in federal policy. There is concern that the new administration may initiate changes that could increase financial pressure on higher education and require adaptation in other areas.

Meanwhile, advances in artificial intelligence and emerging technologies offer opportunities to transform teaching, learning, and campus operations, helping institutions deliver more personalized and efficient experiences.

Hofstra University is responding to the changing landscape in a variety of ways, including a new strategic plan, Hofstra 100, that is centered on strengthening all aspects of the university through interdisciplinary programs, academically connected community engagement, holistic student success and organizational agility.

 

Gail Prudenti

Partner, Burner Prudenti Law, P.C.;

Former Chief Administrative Judge, State of New York

In his 2024 State of the Judiciary Address, Chief Judge Rowan D. Wilson set forth a vision for a court system that doesn’t merely decide who is right and who is wrong but takes into account the “vast body of interpersonal problems” that wind up in our courts. He wants the courts to not just decide cases but solve problems.

The court system already has a great many specialty and “problem-solving” courts, such as drug courts and veterans courts, which seek to prevent recidivism by addressing root causes. But the chief judge seems to have a broader agenda, and one which became clearer Nov. 27 when the court system submitted its fiscal year 2026 budget proposal to Gov. Kathy Hochul.

The judiciary seeks a generous boost in its operating budget—nearly 10 percent—and a journey into the weeds of the proposal suggests much of that increase would further the chief’s problem-addressing concept.

Chief Judge Wilson would boost civil legal service funding by $45.5 million (for a total of $150 million) to help low-income New Yorkers solve their legal problems, pump $3 million more into alternative dispute resolution and increase funding for Attorney for Child providers by 35 percent. And he would spend $300,000 to retain psychological consultants to advise the court system on how best to address mental health challenges.

This budget has to ultimately be approved by the legislature and would substantially change the New York State Court System’s mandate and landscape.

 

Gregg and Mitchell Rechler

Co-Managing Partners

Rechler Equity

As we’ve turned the calendar to 2025, the Rechler Business District at Medford will be our focus with the completion of its first building, 10 Donald’s Way. These 140,000 square-foot, high-bay warehouses has been leased to National Grid for 101,000 square-feet, leaving 39,000 remaining square-feet still available for lease. Plans for the second building of the development, 15 Donald’s Way, are already underway, with construction on the 65,000 square-foot, free-standing building expected to begin in mid-2025. This building will be another example of the class-A design Rechler Equity is known for. As a result, we expect to maintain our high occupancy rates in 2025.

On the residential side of our portfolio, our 91-unit Greybarn Patchogue luxury rental home development is currently under construction. This project is an important piece in meeting the ever-increasing demand for housing options on Long Island. By providing quality living spaces with high-end amenities, members of our workforce are more likely to stay right here on Long Island.

In addition to this project, Rechler Equity will launch sales for the Hampton Boathouses. These 37 luxury townhomes on the Shinnecock Canal in Hampton Bays will have access to the amenities of our dramatically refurbished Canoe Place Inn, which include a restaurant, health spa and diverse schedule of live entertainment events.

In 2025, we look forward to continuing our work to develop quality industrial and residential spaces that will play an important role in the health of our region’s economy.

 

Jeffrey Reynolds

President and CEO

Family & Children’s Association (FCA)

While 2025 comes with some uncertainty—economically, politically and otherwise—Long Island’s nonprofits are more united than ever before and remain committed to addressing our region’s most pressing needs. Our dedicated staff served more families than ever before in 2024 and we expect those numbers to rise as we wrestle with the continuing opioid crisis, a children’s mental health emergency, an uptick in community violence and an aging population of Long Islanders struggling to remain in the homes. The lives of our staff often parallel the lives of those we serve, and we will continue to press government at all levels to properly fund programs so that staff salaries better reflect the importance of their work. We’ll amplify the voices of consumers and communities as we navigate shifts in public policy and provide our own thoughtful commentary. Ever nonpartisan, we’ll call ‘em like we see them and tell it like it is with intelligence, energy and zero apologies.

The best-run, most efficient nonprofits that demonstrate a social return on investment and embrace collaboration will continue to attract public and private dollars. Long Island should rally around those organizations, come together and speak with one voice to make sure that our region continues to advance without leaving anyone behind.

 

James Ricca

Partner

Forchelli Deegan Terrana LLP

There are two schools of thought as to how the new administration’s economic and domestic policies will affect loan interest rates and the real estate industry in the coming year. The new administration has indicated that it will impose high tariffs on China and U.S. trading partners; maintain and renew deep tax cuts; crack down on illegal immigration by deporting millions of illegal immigrants; cut agencies it considers wasteful and burdensome on U.S. businesses; usher in a new era of deregulation; and reinvigorate the oil gas and coal industries for cheaper energy.

Many believe these policies will add to inflation pressure by increasing the costs of goods; will keep interest rates high; tax revenue low; reduce the labor workforce; and limit the government’s ability to reduce the federal deficit.

I am of the view that the new administration’s policies will positively affect the banking and real estate industries by lowering interest rates, deregulating lenders and promote growth in the real estate industry. The effects may not be felt until the second or third fiscal quarter, but good times are ahead. Sticky inflation will persist, but cheaper energy costs will offset any negative tariff effects. The cost of servicing the national debt will decrease as interest rates go down. Investment in new businesses and manufacturing in the U.S. will increase, adding to the U.S. GDP, encouraged by opportunity zones and lower income taxes.

 

Christine Riordan

President

Adelphi University

The world of higher education is facing new questions and challenges heading into the new year while striving to remain at the forefront of innovation. At Adelphi University, we are seeing many encouraging trends that point to a bright future for colleges and universities in America. Two straight years of growing enrollment at Adelphi—paired with expanded online and certificate programs and recent graduates earning salaries 25 percent higher than the national average—indicates that our strategic plan is making a difference and instilling confidence in the value of an Adelphi degree.

In 2025, artificial intelligence will undoubtedly continue to impact education and other major industries. Incorporating AI into curricula, teaching about the values and pitfalls of this technology and understanding the policies surrounding it are essential to preparing students for success in our digital world.

With many policy changes to be expected from the incoming presidential administration, colleges and universities will also need to be keenly focused on matters such as diversity and inclusion and shifts in government funding that could impact the student experience. As such, Adelphi is actively pursuing new ways to infuse civic engagement into our curriculum to prepare our students to serve their communities, practice civil discourse and free expression, and advocate for positive change.

We also continue to emphasize the importance of student mental health. As Adelphi’s student body grows more diverse than ever, our students face a wide variety of personal, financial and emotional difficulties. It is our responsibility to provide services and resources that help ensure their success and well-being, such as counseling, mentoring, interfaith and multicultural centers that promote a welcoming campus environment.

 

William Rockensies

Chairman

Nassau County Industrial Development Agency

I am confident 2025 will bring another year of growth for our economy with new impactful projects coming to Nassau County. We will remain steadfast in our mission of attracting new businesses and retaining existing ones for the purpose of creating job opportunities for residents and growing the county’s tax base. The agency looks forward to supporting the various industry sectors within the county about the benefits of being in Nassau.

2024 showed a favorable direction for interest rates and we’re hopeful that this trend will continue throughout 2025 as it is one of the most significant factors on whether or not development happens. While our region is robust, it is not without need for investment–particularly in our multi-family housing sector. Communities like Hicksville are seeing a plethora of housing development in their downtowns and we’re eager to see more housing developments get underway to provide our current and future residents with the options they need to stay, attract and thrive.

 

Ralph Rosella

Office Managing Member Business, Melville

Bond, Schoeneck & King

The world in general and the legal world in particular has gotten more siloed and specialized. Attorneys have more and better resources at our fingertips than in the past, which has been a boon to the sole practitioner who may be working either closer to home or from home using these new technologies. However, the work we are often called upon to do is ever more sophisticated and exacting. To do it correctly, lawyers need to have access to practitioners who wholly understand a particular law or practice area to properly respond to emerging issues. To that end, Long Island’s law firms continue to expand their practice areas to support clients and lawyers with a full complement of experience.

Last year, we experienced a fair amount of mergers & acquisition activity and anticipate even more in 2025. Forecasted lower interest rates and greater access to capital leads to more availability in the M&A space, as does an expectation of less regulation going forward.

More businesses requiring their employees to return to the office will benefit the younger generation of workers with physical proximity to their more experienced colleagues, and vice versa. Being able to walk down the hall to exchange ideas is something that has been missing in the last five years. Businesses should welcome the return of a more traditional office for this and other reasons.

 

Melanie Sinesi, LI Community Lead, New York Transco

Theresa Santoro, LI Community Lead, New York Power Authority

The year to come will see expanding outreach to the Long Island community on Propel NY Energy, an electric transmission project that will provide a far more reliable, resilient, and significantly strengthened underground electrical grid to serve the needs of our 21st Century society 24/7, 365. Much of the state’s transmission system was built more than 40 years ago and is constrained under the growing electrical consumption of residents and businesses.

Propel NY Energy includes nearly 90 miles of new underground and submarine transmission lines carefully routed to minimize temporary construction impacts. Throughout 2023 and 2024, the Propel NY team met with community groups, elected officials, residents and business leaders to share project details and listen to feedback. The permitting has kicked off and the project is undergoing deliberate, robust permitting and stakeholder review. This will continue through 2025 to refine construction and restoration details in anticipation of a 2026 groundbreaking with a May 2030 in-service date.

Propel NY Energy is a complex project that will benefit Long Islanders by creating a modern and reliable electric network. Part of the team’s effort is to all area stakeholders with factual and timely information.

In 2025, we will be in communities to share project facts supported by science and accurate, expert information.

 

Frank Sorrentino

CEO & Founder

ConnectOne Bank

As we move into 2025, the financial industry is poised to play a pivotal role in shaping broader economic growth. The resilience of small businesses and community banks in the New York metro market has set the stage for optimism. However, success in 2025 will require careful navigation of evolving trends, particularly within banking and finance.

For the New York metro market, persistent shortages in single-family homes, multifamily units, and industrial spaces continue to challenge affordability and mobility. For financial institutions, this presents an opportunity to support thoughtful development through strategic lending and partnerships that address these imbalances.

On a broader scale, anticipated regulatory changes and a shift toward pro-business policies in 2025 could reinvigorate lending activity. This aligns with renewed confidence among businesses and consumers alike, positioning financial institutions as a cornerstone of economic growth. However, as market conditions evolve, agility will remain critical—taking one quarter at a time to assess risks and opportunities while maintaining a long-term vision.

In the coming year, the financial industry has the opportunity to bridge challenges and foster growth. By embracing innovation and aligning strategies with community needs, banks and financial leaders can help pave the way for a thriving 2025.

 

Howard Stein

Managing Partner and Co-Chair of the Real Estate Practice Group

Certilman Balin Adler & Hyman LLP

As we look ahead to 2025, the real estate market on Long Island is poised to face a unique set of challenges and opportunities. One of the key trends will be the continued demand for residential properties, especially in transit-oriented areas, driven by the ongoing shift in work-from-home arrangements. This will likely maintain pressure on inventory and affordability, creating opportunities for both residential developers and investors to meet growing demand.

On the commercial front, there is a shift toward hybrid office models, which will affect leasing and the repurposing of office space and conversions from commercial to residential uses where appropriate.

Additionally, there may be an increased focus on sustainability and energy-efficient building practices, with the implementation of stricter environmental regulations expected to influence development projects.

Overall, while the real estate landscape will face challenges such as high interest rates and regulatory changes, the long-term outlook remains positive. Industry leaders will need to stay agile, embrace innovation, and remain focused on delivering value to their clients in an ever-evolving market.

 

Walter Stockton

President and CEO

Kinexion

We are at a critical juncture, witnessing a surge in the number of people diagnosed with developmental disabilities. Moreover, the life expectancy of individuals with disabilities now matches that of the general population, highlighting the urgent need to enhance their overall health and well-being.

Unfortunately, the New York State budget does not adequately support the growing population of people living with disabilities and their increased longevity. For more than seven years, the current Office for People With Developmental Disabilities (OPWDD) budget has not kept pace with the rising cost of living. As a result, funding for human service agencies supported by OPWDD has led to a generalized standardization of care, rather than “Person-Centered Care” that focuses on individual support and care needs.

In 2025, we will continue to advocate with NYS OPWDD to allow provider agencies a voice in deciding what, when, how much, and where budget dollars should be allocated. This is to ensure that all people can live their best lives. This can be achieved through the concept of Integrated Care, which involves coordinating all aspects of a person’s care to improve health outcomes and quality of life.

We will also advocate for increased funding to support housing modifications and adaptive equipment. Additionally, we will aim to increase staffing levels to help individuals living with disabilities remain in their homes at the end of life, thereby reducing unnecessary costs to the state and enhancing the quality of life for people living with disabilities.

 

Kyle Strober

Executive Director

Association for a Better Long Island

One takeaway from the 2024 election is that the economy and cost of living will remain at the forefront of what the American people focus on as we enter 2025. Specifically, the issue of affordability weighs heavily on every family. As Long Island’s high taxes and daunting cost of living continue to burden our property owners, we must aggressively push for Congress to restore our SALT deductions in the new year.

In addition, a decrease in interest rates will hopefully increase the supply of houses for sale, thereby reducing prices while increasing affordability across the region. Lowering the rate will also spur economic development, spurring additional projects that create jobs and strengthen Long Island’s economy.

Gov. Hochul’s Pro-Housing Community Program and Long Island Investment Fund are expected to yield additional housing.  These incentives ensure that developments in Baldwin, Bellport, Patchogue, and beyond will receive critical infrastructure funding necessary to move them forward.

It will be critical for NYS to encourage housing development by passing legislation that cuts the bureaucratic red tape that can throttle progress. Among the options include legislation supported by a bipartisan coalition of public officials, environmentalists, and labor that provide local municipalities with the option to create self-certification programs to fast track construction. The state must also embrace the role of Industrial Development Agencies (IDAs), recognizing them as agencies that are vital partners in the mission to create meaningful investment in a high cost region, thereby strengthening our economy.

 

Marlon Taylor

President

New York & Atlantic Railway

Rail freight is poised to be a significant economic catalyst for Long Island’s growth in 2025 and beyond. This optimistic forecast is based on several factors that indicate a promising future for the freight rail industry, both regionally and nationally. As the economic and environmental benefits of this mode of transportation become more apparent, it will play a crucial role in addressing pressing issues such as traffic congestion and emissions reduction.

For 2025, we foresee a steady increase in the transportation of various commodities. These include lumber, paper, building materials, plastic, aggregates, food products , construction demolition debris and recyclables. We are committed to strengthening our relationships with regional leaders, developers, and other stakeholders to advance a unified rail freight strategy. Focusing on sustainability, in line with growing environmental concerns, this is a cleaner, more fuel-efficient, and cost-effective transportation option than trucking.

By providing direct rail car service to and from local industries and through our third-party logistics providers, NYA is not just hopeful, but also well-prepared to make a significant contribution to Long Island’s economic vitality in 2025.

 

Felicia Tucker

Office Managing Partner-Long Island Office

KPMG LLP

Our latest survey on financial reporting demonstrates how organizations are not just adopting AI, but fundamentally reimagining their financial strategies to reshape how they approach technology, strategy, and performance. Here is what to expect in 2025:

As organizations chart their 2025 trajectory, finance leaders are making bold moves. Over the next three years, the share of AI spend on company-wide activities will grow to more than 17% of the IT budget for U.S. companies leading in AI deployment—a decisive commitment that transforms technological capability into strategic advantage. This isn’t just spending; it’s a fundamental reimagining of organizational potential.

An extraordinary 92% of US companies are witnessing AI initiatives meet or exceed their expectations, and more than one-third plan to increase AI budgets or shift funds from other activities to drive further AI adoption, signaling a massive unlock of organizational performance that goes far beyond incremental improvements. Companies are experiencing nearly five distinct benefits, ranging from enhanced data-driven decision-making to unprecedented productivity gains that reshape traditional financial operations. Importantly, as finance leaders see the returns on their AI investments, they are also more inclined to shift spending priorities towards an AI-enabled financial reporting process.

With 66% of companies developing robust corporate AI principles, the conversation has shifted from mere technological adoption to a sophisticated, responsible approach to innovation. This nuanced strategy positions forward-thinking organizations to not just leverage AI, but to fundamentally reimagine their operational capabilities. At the same time, as companies engage more with AI and GenAI, they will face new opportunities, risks and challenges. Financial reporting leaders are focused on navigating these risks by becoming AI-ready and expect their external auditor to not only use AI and GenAI in the audit, but also use professional judgement to evaluate control environments.

AI is the underpinning strategic imperative that will define competitive differentiation. Those who view AI as a strategic partner—not just a tool—will lead the next wave of business innovation, turning technological potential into tangible value for their organizations.

 

Marguerite Wells

Executive Director

ACE NY

Long Island’s power grid is increasingly vulnerable to extreme weather events and surging energy demands. Modernizing our energy infrastructure is no longer an option but a necessity. To update our grid in a cost-effective and safe way, battery storage technology must be used. It enhances grid resiliency by buffering against sudden power fluctuations and ensuring reliable electricity supply even during outages.

The introduction of any technology warrants careful consideration, but it’s crucial to understand the robust safety measures in place for battery storage systems. Developers prioritize safety, incorporating stringent design standards and collaborating closely with local fire departments to develop and implement comprehensive emergency response plans.

Furthermore, New York State is actively working to enhance safety regulations. The NYS Fire Prevention and Building Code Council has proposed new regulations for battery energy storage, which would go into effect next summer. Among the proposed measures are 24/7 monitoring and remote shutoff of facilities, industry-funded peer reviews of safety plans for each facility, immediate dispatch of battery storage experts to assist fire departments during incidents, and mandatory annual training programs for firefighters.

As battery storage projects continue to be proposed across Long Island, it’s vital to remember that they undergo rigorous review and adhere to the most stringent safety standards. Many developers have already adopted the proposed safety standards in advance of the official adoption. Embracing this technology is not just about modernizing our grid; it’s about ensuring a reliable, sustainable, and resilient energy future for generations to come.

 

William Wertheim

Executive Vice President

Stony Brook Medicine

The healthcare industry will continue to see transformative shifts in 2025 as innovation and collaboration redefine how care is delivered. One of the most significant trends is the expansion of virtual health and remote patient monitoring, allowing patients to access care seamlessly from the comfort of their homes. This approach enhances convenience and addresses ongoing challenges with provider shortages and geographic disparities in care access.

Shifting demographics, particularly the rapid growth of aging populations both nationally and on Long Island, will also heavily influence healthcare priorities. This trend underscores the need for specialized services tailored to older adults.

Equity and inclusivity will remain central to healthcare strategies, focusing on addressing social determinants of health. Partnerships with community organizations will be crucial to providing holistic care that meets patients’ physical, mental, and social needs.

Another key trend is the integration of advanced technologies, such as artificial intelligence and machine learning, into clinical decision-making. These tools promise to enhance diagnostic accuracy, streamline administrative tasks, and personalize treatment plans.

Interdisciplinary teamwork will also gain prominence as healthcare systems increasingly rely on diverse teams of professionals working at the top of their licenses to meet patient demand. This collaborative model ensures that care is comprehensive, efficient, and patient-centered.

Finally, sustainability in healthcare will remain a priority, with systems exploring ways to reduce environmental impact through eco-friendly practices and infrastructure.

As we look to the future, healthcare organizations must remain agile and committed to embracing change to ensure access and quality outcomes for patients and communities.