What is Babylon OZ?
“OZ” stands for “Opportunity Zone.” Babylon OZ is a nonprofit initiative dedicated to connecting investors with investment-ready assets in the Town of Babylon’s Opportunity Zone. By using a data-driven approach, we bring investors, opportunities, communities and key institutional supporters together to generate real returns while improving economic vitality and quality of life.
About the Program
To ensure that the Opportunity Zone program would work as a tool for neighborhood revitalization and quality job growth, Babylon has co-created an asset-based model to identify census tracts with absorptive capacity for new capital.
Babylon affords us a wonderful opportunity.
Big Partnership
Connect with Industry Leaders
Industry experts share their insights about building a successful business
Development
The ins and outs of zoning, compliance and more
The Power of Partnership
Find out how we can serve as the bridge between you and the community
Putting all the pieces Together
Creating a Win/Win/Win for investors, community and you
With strong public and private relations, government partnerships with the Babylon IDA, the Town of Babylon, the county, and the state, and support from our communities, Babylon OZ is on track for strong economic development and growth.
Investor Relations
Our public and private partners provide a wide range of services in conjunction with the Babylon IDA. From higher education research collaboration to regulatory and legal assistance to workforce training, they’ll ensure you have a smooth landing.
Government Partnership
From developing incentive policies and expedited permitting processes to engaging residents as patrons and employees, the Babylon IDA is facilitating long-term connections between OZ investments and the places they support.
Community Support
The Babylon IDA is working with community leaders to put the right development strategies in place to ensure that projects and communities can thrive together. Your dollars could be used to benefit companies that provide everything from workforce training to healthy food for low-income communities.
Projects
What We're Working on Now
Wyandanch Cultural Arts
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Lakeville Kitchen and Bath
Babylon IDA has worked closely with Lakeville Kitchen and Bath to finalize an assistance program that will enable them to make a $5.6 million investment that creates four new jobs at an average salary of $55,000.
Enzo Biochem, Inc
Enzo Biochem, Inc. provides low-cost support for clinical laboratories, specialty clinics, researchers, and more. With 336 issued patents worldwide and over 151 pending patent applications, Enzo Biochem, Inc. has quickly positioned itself as a leader in molecular medicine.