Long Island Gets $87.9M in Economic Development Grants

shutterstock_1027592764 (1)
Visitors at Montauk Point.

Ninety-four Long Island projects received a combined total of $87.9 million in New York State economic and community development funding, officials announced Thursday.

LI was named one of five top performers among the 10 Regional Economic Development Councils statewide that were all granted a total of more than $761 million in the 2019 regional council competition.

“By bringing together local leaders and stakeholders who are invested in their communities we have replaced the ‘one size fits all’ approach to economic development with one that is unique to each community, creating opportunities for success all across the Empire State,” Gov. Andrew Cuomo said. 

Since its inception in 2011, more than $6.9 billion has been awarded to more than 8,300 projects that are projected to create and retain more than 240,000 jobs statewide, including $727 million for 885 projects on LI.

Projects awarded this year on LI include $3 million awarded to The YMCA of Long Island to build a new state-of-the-art facility to provide pediatric and wellness services in Lake Success in collaboration with Northwell Health. 

Biocogent LLC, a Stony Brook University incubator company, will receive $1.5 million to add jobs and expand its bio-manufacturing capacity outside the incubator.

Pal-O-Mine, an equine therapy provider, will receive $600,000 to expand its facility and program for high-risk youth and adults with disabilities to receive job training, work-force preparedness, and internships.

And the Montauk Lighthouse Historic Restoration project received $438,500 in grants.

A full list of winners can be found here.