Long Island Regional Economic Development Council Submits Round V Progress Report
The Long Island Regional Economic Development Council (LIREDC) announced its progress report was submitted to the State to meet the September 21 deadline. The progress report, which details the Council’s achievements in implementing its five year strategic plan, is entitled “Promises Made, Promises Kept: A Continuing Story of Progress,” reflecting the Council’s work to implement its five-year strategic plan and its success creating jobs and opportunities throughout the region.
The report outlines the region’s strong performance record in implementing its strategies and projects since the first round of Governor Andrew M. Cuomo’s Regional Economic Development Council initiative in 2011. The first four rounds resulted in $326 million in State funding to support 347 projects that are completed or in progress, with commitments to create or retain more than 15,000 jobs and leverage $2.4 billion in non-state investment in the region. The Council’s plan supports this positive trend and will continue to build on the success of previous years, accelerating Long Island’s regional economy.
The progress report can be found on the Long Island Regional Council’s website at http://regionalcouncils.ny.gov/content/long-island.
“Over the past four years, the LIREDC has sought to make big promises and keep them, and this report details our work to meet our goals,” said Kevin Law, President of the Long Island Association and Co-Vice Chair of the LIREDC. “Of the 347 projects the Council has funded in past rounds, 80 percent are completed or on schedule. We look forward to maintaining that success rate, with the new projects outlined in the report and which we are endorsing this year.”
“Under Governor Cuomo’s leadership, Long Island’s economy has continued to grow, with key industries, such as bioengineering and high-tech manufacturing, capitalizing on the region’s energized and educated workforce,” said Stuart Rabinowitz, President of Hofstra University and Co-Vice Chair of the LIREDC. “While Long Island still faces challenges, we look forward to rising to them and overcoming them in the years ahead, as we focus on sustainable economic development with long-term positive impacts.”
There was strong public participation throughout Round V that proved extremely valuable as the LIREDC hosted more than 22 forums, summits and meetings
The Council also looked to the next phase of its work, and placed significant focus on the continued development of collaborations both in and out of the region, and successful implementation of its strategies and programs, including Innovation Hot Spot/Business Incubators, the Cleaner Greener Initiative, Veterans and Opportunity Agendas, NY Rising, SUNY 2020 and START-UP NY.
The following 47 projects, located across the two-county region and supporting Long Island’s diverse economic sectors, were endorsed by the Council as regional priorities for Round V of the Regional Council initiative and submitted to the State for recommended direct funding:
- Cyclotron and Radiochemistry Laboratory at Stony Brook University
- Next Generation Vaccine Development at Farmingdale State College and Nassau Community College
- Boost Long Island Biotechnology Startups at Stony Brook University High Tech Incubator
- Winthrop University Hospital Research Center Equipment Expansion
- Accelerate Long Island Capital Equipment Grant Fund
- Additive Manufacturing and Prototyping Center AMPAC at Stony Brook University
- Next Generation Drug Discovery and Advanced Therapeutics at Stony Brook University
- Hofstra University Business Incubator Support Program
- Nassau Hub Site Improvements and Connectivity Enhancements
- Brookhaven National Lab Discovery Park
- MacArthur Airport Federal Inspection Services Facility Development
- Suffolk County Nicolls Multimodal Hiking Biking Trail
- Babylon Brewery Incubator
- Peconic Crossing at Riverhead
- LGBT Community Center
- Sunrise Association Day Camps
- City of Glen Cove Downtown Energy Efficient Waterfront Parking Building and Small Business Market Place
- Downtown Copiague Pedestrian, Roadway, and Streetscape Improvements
- Bay Shore Health and Wellness Center
- Enhanced Shared Water Infrastructure for Suffolk County Water Authority at Calverton Enterprise Park, Town of Riverhead
- Downtown Baldwin Complete Streets Enhancements
- Suffolk County Route 110 Preliminary Engineering and Design
- Manna Fish Farms Inc. Aquapods
- Suffolk County's Agricultural Visitor's Campus
- Digester Upgrade for the Grease Receiving Station
- Hofstra University Center for Entrepreneurship Incubator
- Community Education Workforce and Leadership Training Center at Hofstra University
- The Collaboratorium: Digital Platform Incubator Partnership Between Molloy College and the Baldwin School District
- New York Institute of Technology START UP NY Incubator
- Expansion of Center for Learning and Innovation Employee Training Site
- Tesla Science Center Renovation
- Good Ground Park Gateway
- Long Island Greenbelt Trailhead Improvements
- Viva LArte County Cultural Environmental Tourism Education Center Gallery
- Grumman Studios
- Long Island High Pressure Processing Facility for Food Industry
- D'Addario and Co. Infrastructure of Efficiency
- Voxx International Corp. Expansion
- SIW, Inc. Lean Manufacturing Training and Advanced Manufacturing Growth
- US Luggage Company, LLC Expansion
- Nicolock Paving Stones, LLC Expansion
- Precision Metals Corp. Expansion
- Aljo-Gefa Precision Manufacturing, LLC Expansion
- Arkwin Industries, Corp Expansion
- Jewelers Machinist Co, Inc. Technology Commercialization
- East/West Industries Inc. Expansion
- Autodyne Manufacturing Co. Inc. Expansion
- GKN Aerospace CNC Bridgemill Upgrade Manufacturing Engineering Lean Training
The Plan this year identifies biotechnology as the region’s focused industry cluster and identifies strategies to help strengthen and support the industry at all levels – from the high school students to the researchers in the region’s world-renowned research institutions and everything in between.
To continue building on the success of the last four rounds, each of the state’s 10 regions will compete for a portion of the up to $750 million in New York State economic development resources available in Round V. Three regions will earn “Top Performer” distinction and receive approximately $105 million each, while four regions will receive approximately $90 million each through the REDC competition – which is more than the average amount awarded to the top place finisher in prior years. Additionally, due to this year's Upstate Revitalization Initiative (URI), the three URI-winning regions will receive up to $30 million through the REDC competition, allowing for larger awards for the other seven regions, including Long Island.
Funding awards for Round V of the CFA process are expected to be announced by the end of the year.
The LIREDC, which is composed of Nassau and Suffolk counties, is one of 10 regional councils across New York State that serve as a single point of contact for economic activity in the various regions. The LIREDC was awarded $81.9 million supporting 97 projects in 2014. The LIREDC was named a “Top Performer” in three of the first four rounds, in addition to its Strategic Plan being named “Best in State” in December 2011. There are 347 projects across the region that have been awarded a total of $326 million in state support through the Regional Economic Development Council initiative and Consolidated Funding Application (CFA) process in the statewide competition.
About the Regional Economic Development Councils
The Regional Economic Development Council initiative (REDC) is a key component of Governor Andrew M. Cuomo's transformative approach to State investment and economic development. In 2011, Governor Cuomo established 10 Regional Councils to develop long-term strategic plans for economic growth for their regions. The Councils are public-private partnerships made up of local experts and stakeholders from business, academia, local government, and non-governmental organizations. The Regional Councils have redefined the way New York invests in jobs and economic growth by putting in place a community-based, bottom up approach and establishing a competitive process for State resources. After four rounds of the REDC process, nearly $3 billion has been awarded to more than 3,100 job creation and community development projects consistent with each region's strategic plans, supporting the creation or retention of more than 150,000 jobs. For more information on the Regional Councils, visit www.regionalcouncils.ny.gov.