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

Integrated as component of Governor Hochul’s FY 2023 Enacted Funds, the Long Island Expenditure Fund focuses on projects that will aid and increase the regional financial state, increase communities, and have lasting financial impacts across Extensive Island. The Very long Island Financial commitment Fund awarded its initial grant of $10 million to The Feinstein Institutes for Health care Research to assemble new state-of-the-art labs to guidance medical and infectious condition investigate. To date, the Fund has allotted $56.5 million to projects that will help transformative assignments to fortify Extensive Island’s economic system.

Empire Point out Advancement President, CEO and Commissioner Hope Knight stated, “The newest Lengthy Island Financial investment Fund tasks display the possible for transformative job, bigger-ed and market growth through the location. Investing in workforce growth and partnering with Prolonged Island’s major-tier instructional establishments will help to create a tech expertise pipeline that will profit industries in a single of New York State’s premier lifestyle science hubs.”

Empire Condition Improvement Board Chairman Kevin Law reported, “Extended Island is house to pioneering institutions that catalyze revolutionary engineering and improve the region’s workforce. Present day announcement will help initiatives to make improvements to conversation technological innovation and assist the region’s best educational institutions train the talent for occupations in growing tech industries, ultimately developing very good-paying employment although conference organization demand from customers.”

Very long Island Regional Economic Progress Council Co-Chair Linda Armyn, Chief Tactic and Advertising and marketing Officer at Bethpage Federal Credit rating Union reported, “With these most current awards, the Extended Island Expenditure Fund is boosting the region’s innovation financial state by setting up on and strengthening our already exceptional instruction and engineering property. These strategic LIIF-fueled partnerships are doing work to build work and prospect, the two nowadays and for Very long Island’s potential.”

President and CEO of the Prolonged Island Association Matt Cohen mentioned, “Innovation will generate our economy forward and these investments in substantial-tech amenities will even further solidify the Prolonged Island area as a hub for scientific discovery and career development. I applaud the Governor’s concentration on our region’s analysis belongings.”

Farmingdale Condition College – Heart for Computer system Science and Information Technology
Awarded $30 million from the LIIF, Farmingdale State College will build a $75 million, 40,000 sq. foot Heart for Computer Science and Info Technology on its campus, also leveraging $45 million from the SUNY Development Fund. The new creating will household 7 packages that kind the educational Division of Computing as well as modernized lecture rooms, a pupil engagement space, and innovation labs. It will also include things like room for regional business enterprise engagement, for workforce IT schooling for Very long Island nonprofits to practice unemployed and underemployed individuals. Each and every room will be outfitted with the most recent digital collaboration engineering intended to inspire creativeness and to deliver learners and community company homeowners with the opportunity to come alongside one another to innovate and share ideas.

These educational and training activities will generate a new era of employees poised for sustainable, properly-paying out work, supporting the growth of the area and state’s potential workforce.

Very long Island University – College or university of Science Used Investigate and Innovation
Awarded $10 million from the LIIF, Extended Island University will assemble a new $40 million Faculty of Science Applied Research and Innovation facility on LIU’s Publish campus in Brookville. The 40,000 sq. foot Faculty of Science will home new majors in chopping-edge fields which includes artificial intelligence, digital engineering, and drug discovery and output. The new making will also assist groundbreaking lifestyle sciences exploration and will consist of incubator and accelerator space to residence start up technological know-how firms who will commercialize innovation and discovery created in the creating, as properly as leverage research from LIU’s University of Pharmacy and Veterinary medication.