April 19, 2024

Governor Hochul Announces $46.5 Million from Long Island Investment Fund to Support Three Transformative Regional Projects

Governor Hochul Announces $46.5 Million from Long Island Investment Fund to Support Three Transformative Regional Projects

Provided as part of Governor Hochul’s FY 2023 Enacted Budget, the Extended Island Financial commitment Fund focuses on projects that will help and improve the regional financial state, boost communities, and have long lasting financial impacts across Very long Island. The Extensive Island Investment decision Fund awarded its very first grant of $10 million to The Feinstein Institutes for Healthcare Research to construct new condition-of-the-art labs to assistance professional medical and infectious ailment exploration. To date, the Fund has allotted $56.5 million to initiatives that will assist transformative initiatives to strengthen Extensive Island’s economy.

Empire Condition Growth President, CEO and Commissioner Hope Knight mentioned, “The newest Extensive Island Financial commitment Fund jobs display the possible for transformative task, greater-ed and industry growth all through the area. Investing in workforce development and partnering with Long Island’s top-tier academic institutions will aid to generate a tech talent pipeline that will benefit industries in just one of New York State’s premier life science hubs.”

Empire Condition Improvement Board Chairman Kevin Law explained, “Extended Island is property to pioneering institutions that catalyze impressive technology and improve the region’s workforce. Present day announcement will guidance initiatives to boost interaction technological know-how and help the region’s prime universities practice the expertise for professions in expanding tech industries, finally creating good-spending work opportunities although conference business demand.”

Very long Island Regional Financial Advancement Council Co-Chair Linda Armyn, Chief Tactic and Advertising and marketing Officer at Bethpage Federal Credit history Union claimed, “With these hottest awards, the Extensive Island Financial commitment Fund is boosting the region’s innovation financial state by building on and strengthening our currently extraordinary education and learning and technological know-how belongings. These strategic LIIF-fueled partnerships are doing the job to create careers and prospect, both equally now and for Long Island’s long run.”

President and CEO of the Lengthy Island Affiliation Matt Cohen mentioned, “Innovation will drive our economic system ahead and these investments in large-tech facilities will additional solidify the Prolonged Island region as a hub for scientific discovery and occupation generation. I applaud the Governor’s aim on our region’s exploration assets.”

Farmingdale State College or university – Heart for Laptop Science and Details Technologies
Awarded $30 million from the LIIF, Farmingdale State University will construct a $75 million, 40,000 square foot Middle for Computer Science and Details Engineering on its campus, also leveraging $45 million from the SUNY Building Fund. The new developing will home 7 courses that kind the tutorial Division of Computing as nicely as modernized classrooms, a scholar engagement room, and innovation labs. It will also contain space for regional small business engagement, for workforce IT training for Lengthy Island nonprofits to prepare unemployed and underemployed persons. Just about every room will be equipped with the most up-to-date digital collaboration technological innovation designed to inspire creativeness and to supply students and regional small business proprietors with the prospect to come with each other to innovate and share strategies.

These educational and coaching pursuits will make a new technology of employees poised for sustainable, very well-shelling out work opportunities, supporting the growth of the location and state’s foreseeable future workforce.

Extensive Island University – University of Science Applied Investigation and Innovation
Awarded $10 million from the LIIF, Extensive Island University will build a new $40 million School of Science Used Investigate and Innovation facility on LIU’s Publish campus in Brookville. The 40,000 sq. foot School of Science will dwelling new majors in slicing-edge fields such as synthetic intelligence, digital engineering, and drug discovery and production. The new making will also assist groundbreaking existence sciences study and will incorporate incubator and accelerator place to residence begin up know-how businesses who will commercialize innovation and discovery produced in the setting up, as perfectly as leverage study from LIU’s Faculty of Pharmacy and Veterinary medicine.