Cuomo Awards $83 Million to Strengthen Long Island's Economy

Gov. Cuomo awards $83 Million to fund creative and groundbreaking economic development projects on Long Island.

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Gov. Andrew M. Cuomo Wednesday announced that $715.9 million has been awarded to fund creative and groundbreaking economic development projects across New York State through Round Three of the Regional Economic Development Council initiative. As a Top Performer Awardee, Long Island received $83 million in funding.

In a move to jumpstart the economy and create jobs, the Regional Councils were put in place to develop a community-based, performance-driven approach to stimulating economic growth in New York State. The initiative empowers community, business, and academic leaders, as well as members of the public to develop plans specifically tailored to their region's unique strengths and resources in order to create jobs and support economic growth.

“In the last three years, we have put New York’s fiscal house in order by controlling spending and cutting taxes and the global business community has taken notice,” Cuomo said.

“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. These efforts have allowed the Regional Councils for the last three years to pursue economic development projects on the ground all across the state, from creating new technologies and supporting innovation to building hospitals and tourism destinations that will further our economic growth…”

The Long Island REDC was recognized for its work in in helping the regional economy, local businesses and residents get back on their feet in the wake of the devastation of Superstorm Sandy, and the priority projects it endorsed for 2013 to continue to strengthen the region’s economy.

Long Island’s $83 million Top Performer Award will fund innovative projects that will expand research and development facilities and capabilities, and invest in high-performance equipment so that our region’s leading employers in the science industries can access the latest technologies.

Highlights of projects on the Island that were awarded economic development funding in Round Three include:

$2,000,000 to Stony Brook University to build a new Innovation and Discovery Facility designed to enhance the business recruitment power of START-UP NY and stimulate a public-private partnership for building construction.

$2,000,000 to Cold Spring Harbor Laboratory to renovate a facility and establish a Therapeutics Discovery Center, designed to accelerate research efforts to develop new therapeutics and diagnostics for cancer and neurological disorders.

$2,000,000 to support high performance computing investments at Brookhaven National Laboratory and at Hofstra University. BNL will acquire new high performance computing equipment for the benefit of scientific and industrial users across the region and state; and Hofstra University will create a Robotics Laboratory in its School of Engineering to support expanded enrollment, workforce demand, and burgeoning technologies.

$1,340,000 for infrastructure improvements at Enterprise Park in Calverton. The upgrade of the Calverton sewage treatment plant will provide both economic development and environmental benefits to this regionally significant project site with immediate potential for job creation.

$1,000,000 for continued infrastructure improvements at Wyandanch Rising, which is a comprehensive, community-based revitalization initiative transforming the most economically distressed community on Long Island into a model for community and economic renewal.

The REDC Councils are public-private partnerships composed of local experts and stakeholders from business, academia, local government, and non-governmental organizations. In all, 824 projects across the state received awards in the third round of the REDC competition.

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[Source: Gov. Andrew M. Cuomo]

Photos Courtesy of Gov. Andrew M. Cuomo's Official Flickr Page

Video of Gov. Cuomo's Remarks at the Third Round of Regional Economic Development Council Courtesy of Gov. Andrew M. Cuomo's Official You Tupe Page