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

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    THE BLUEPRINT:

    • awarded $56.4M through REDC and ACHIEVE programs.

    • $26.4M supports 29 Nassau and Suffolk County projects.

    • $30M funds Regional Commercialization Corridor for .

    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 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 (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 , 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 are designed to support , childcare, new housing and more.

    ‘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.


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    Adina Genn

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  • Life sciences advocates, economic development agencies launch centralized hub | Long Island Business News

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    New York Bio Connect, a new and life sciences hub, has officially launched to serve as a central resource for New York’s life science community. Designed to accelerate innovation and strengthen collaboration within the state’s life-science community, the hub offers streamlined access to information, tools and support to help organizations advance across the state, including on Long Island.

    The initiative is a joint effort by NewYorkBIO, which advocates for life sciences in the state,  the New York City Economic Development Corporation (NYCEDC) and Empire State Development. It was unveiled at NewYorkBIO’s annual Innovation Summit in Manhattan earlier this week.

    “The launch of New York Bio Connect marks an important milestone for our state’s life sciences community,” Jennifer Hawks Bland, CEO of NewYorkBIO, said in a news release about the initiative.

    “This platform reflects the collective strength of New York’s ecosystem – bringing together companies of every size, academic institutions, investors and support organizations,” Bland added. “By making it easier to access resources and opportunities, New York Bio Connect will empower innovators to advance research, accelerate development and bring groundbreaking treatments and technologies to patients.”

    Described by its organizers as the first information hub of its kind for New York’s bioscience industry, New York Bio Connect aims to bring together funding opportunities, facility details, career openings, services, programs and statewide news and to help life science professionals and companies gain traction across the state.

    “By centralizing essential resources, opportunities, and information, this platform breaks down barriers and empowers entrepreneurs, researchers and companies of all sizes to reach their highest potential – driving discoveries, supporting job growth and ultimately improving health outcomes for communities across New York and beyond,” NYCEDC President and CEO Andrew Kimball said in the news release.

    Supporting companies of all sizes and stages, NewYorkBIO, NYCEDC and Empire State Development say they identified an opportunity to reduce barriers in the industry. Their solution: a central hub where life science companies and professionals — whether based in New York or considering a move — can access the resources needed to thrive.

    “With New York Bio Connect, we are creating a powerful economic development asset for the entire state,” Hope Knight, president, CEO and commissioner of Empire State Development, said in the news release.

    “This platform will not only spotlight the tremendous work happening across our life sciences ecosystem, but also expand access to capital, facilities, talent and partnerships – helping New York attract investment, grow companies, and create good jobs in every region,” she added.

    More information about the platform is available here.


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    Adina Genn

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