Long Island scores $56M for economic development projects | Long Island Business News

Long Island is receiving a total of $56.4 million in economic and community development funding, state officials said Tuesday. The money was awarded through the 2025 Regional Economic Development Council (REDC) initiative under New York Gov. Kathy Hochul.

With this year’s funding, $26.4 million will support 29 projects in Nassau and Suffolk counties, leveraging $66.1 million in additional public and private investments, according to Empire State Development (ESD).

And $30 million of the funding was awarded through the Advancing Collaboration for High-impact Initiatives for the Economic Visions & Expansion (ACHIEVE) competition, which aims to foster REDCs to advance economic development projects that prompt broader growth, create jobs and attract investment. The $30 million awarded to Long Island is for the Regional Commercialization Corridor project, which was developed by the LIREDC. Coordinated with Newlab, which runs business incubators, and Activate, a tech training nonprofit, the corridor is designed to link Long Island’s research and manufacturing strengths to New York City’s capital and innovation networks to foster economic development in the region.

Projects on Long Island awarded REDC funding are designed to support waterfront revitalization, childcare, new housing and more.

“Governor Hochul‘s REDCs continue to recommend proposals that will create jobs and spur new growth through a locally focused, bottom-up strategy to economic development,” Empire State Development President, CEO and Commissioner Hope Knight said in a news release about the funding.

“By awarding state funding to projects that align with regional priorities, New York is investing in new ideas, new efforts and new developments to promote community growth throughout the state,” she added.

“From critical housing and infrastructure projects to Long Island’s selection for the inaugural ACHIEVE competition, these investments demonstrate the region’s capacity to deliver transformational, high-impact growth,” ESD Board Chair Kevin Law said.

“With Governor Hochul’s support, Long Island is advancing projects that will drive innovation, create jobs, and establish the region as a national leader in emerging hard-tech industries,” he added.

“We thank Gov. Hochul for her strong commitment to Long Island and for recognizing the region’s potential for long-term growth and innovation,” Long Island Regional Economic Development Council Co-Chairs Linda Armyn and Kimberly Cline said in a joint statement. “We are also grateful to our council members and partners whose leadership and hard work continue to drive progress. These investments will strengthen our communities, support local businesses, and create new opportunities for Long Island residents.”

Projects awarded funding include $2 million to advance the Town of Brookhaven’s waterfront revitalization program in Mastic. It also includes $2.5 million to construct extensions and upgrade the existing sanitary collection system and related equipment to support a new 30-unit housing development in Patchogue. And $1.28 million went to the Bridgehampton Child Care and Recreational Center, to renovate and expand two underutilized buildings so that the center can help meet demand with new, affordable childcare slots.

The full list of awards is available here.