Sheldon “Shelly” L. Shrenkel was appointed Chief Executive Officer of The Nassau County Industrial Development Agency in November 2022.
Shelly’s role as CEO and executive director is to oversee all aspects of the Nassau County Industrial Development Agency, which aims to enhance economic development and job creation.
Shelly finds this to be a rewarding experience and enjoys his daily work meeting with developers, businesses, and other constituents.
He leads his team with passion and respects his experienced employees, who always achieve their goals. Although challenging, his management style is positive motivation. He finds that many of his previous job functions have integrated well with the transactions he encounters in the agency’s day-to-day needs.
When asked what advice he would give to people in positions of power, Shelly shared,”First listen to others to understand the problems or their ideas. Always try to avoid ego—it is not good for oneself or anyone else.
A good executive leader makes himself available whenever possible. A good leader must also be decisive, but they should deliberate and visualize the alternatives before making important decisions. Any good manager should always be open to new ideas and changes in systems.”
When asked what determines the volume of new business, Shelly answered, “Economic conditions are factors that affect new business, such as higher interest rates, the immense spike in the cost of building supplies, and, in some cases, delays in receiving building materials and supplies.
The cost of labor is another factor. Of course, the revenue to be generated from the project is the most significant number, weighing it against all the costs.”
Shelly previously worked as director of operations for Chrysler Capital Corporation, a $6 billion company. He was also vice president of Chrysler Capital Funding Corporation and later reported to the chairmen of Chrysler First Corporation.
He was an independent contractor working with Sterling National Bank. He has also worked with several workout and turnaround firms and bankruptcy trustees and acts as a financial intermediary through his consulting firm, Jacath & Shrenkel Associates.
He has a long financing career in multiple products: auditing, accounts receivable and inventory financing, equipment lease financing, and commercial real estate financing.
He began his career as an executive at Bloomingdales. He was a credit and collection manager and then managed the legal department for delinquent accounts. He was also a pre-billing manager and assistant director of accounts responsible for all issues related to credit authorization.
Shelly graduated from Hunter College with a B.A. He earned his MBA at Adelphi University, where he graduated from Delta -Mu—Delta (National Honor Society of Business).
He was an adjunct instructor at the graduate division of Metropolitan College N.Y. for 11 years, teaching courses in marketing and finance. Also, he taught business courses at NYU’s School of Continuing Education.
He served six years in the U.S.A.R. and was honorably discharged attaining the rank of SP-5. He was formerly president of the Long Island Entrepreneur’s Group, and a member of Gotham City Networking.
Shelly is married to his wife Jane, an attorney. He enjoys time with his family and granddaughter. He enjoys watching most sports, and dancing Salsa, and Argentine Tango.
