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Long Island Scores $83M in Economic Development Funding

Stony Brook University, Hofstra University, Cold Spring Harbor and Brookhaven National Labs among grant winners.

Long Island Scores $83M in Economic Development Funding

Long Island scored $83 million Wednesday designed to spark economic development, Gov. Andrew Cuomo said.

The initiative, launched in 2011, aims to stimulate the economy and create jobs by empowering “business, and academic leaders, as well as members of the public in each region of the state, to develop strategic plans specifically tailored to their region's unique strengths and resources,” according to the statement.

“We are transforming New York State into a top destination for companies from around the world to locate, invest and grow with initiatives like START-UP NY to provide tax-free areas and support to businesses,” Cuomo said.

Each year, regional councils across the state work with Cuomo to determine how much money will be awarded to spark economic development in their communities.

Funding on Long Island this year included:

  • $2 million to Stony Brook University for a new innovation and discovery facility to enhance business recruitment and public-private partnerships for construction.
  • $2 million to Cold Spring Harbor Laboratory for facility renovations and to launch a Therapeutics Discovery Center for research for cancer and neurological disorders. 
  • $2 million to Brookhaven Laboratory and to Hofstra University. Brookhaven is to acquire high performance computing equipment for scientific and industrial use. Hofstra is to create a robotics lab in its School of Engineering to support increased enrollment, workforce demand and emerging technologies.
  • $1.34 million to Enterprise Park in Calverton (EPCAL) to improve a sewage treatment plant.
  • $1 million to Wyandanch Rising for infrastructure improvements to a revitalized, transit-oriented community.

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