Economic Development

Cuomo looks to expand state’s MWBE outreach efforts

By GREGORY ZELLER // Albany is looking to expand the reach of New York’s successful MWBE Program. While current state law attaches specific “utilization” goals to the awarding of state contracts, proposed legislation would tweak the rules to include municipal contracts funded by the state – meaning counties, towns and other jurisdictions that funnel state monies into local projects would also have to meet minority- and women-owned business enterprise quotas. Gov. Andrew Cuomo announced the…

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At Stony Brook’s CEWIT, never too old to incubate

By GREGORY ZELLER // A Stony Brook University business-development program known primarily as a haven for startups has opened its doors to a 24-year-old tech innovator. Islandia-based “medical informatics” firm ZyDoc Corp. has been accepted into SBU’s Incubator Program and will move a research-and-development team this month into the university’s Center of Excellence in Wireless and Information Technology. Although CEWIT’s own mission statement lists “new enterprise development” as a core function, ZyDoc – launched in…


LICA cooks up tasty Food & Beverage investor forum

By GREGORY ZELLER // Bring your appetite to the Long Island Capital Alliance’s next Capital Forum. After three quarterly innovator-meets-investor events with a decidedly high-tech flavor – early-stage technology in March, cybersecurity in June, healthcare in September – LICA will wrap up its 2017 series with a Food & Beverage Capital Forum, spotlighting “premier growth companies” in the gastronomical realm. As always, the event will feature a handful of what LICA calls “dynamic, emerging companies”…


With ESD’s help, Seviroli plans a new pasta course

By GREGORY ZELLER // A maker of “artisan dining at home” selections is expanding its foodie-friendly Long Island footprint. The Empire State Development Corp., Albany’s main economic-development engine, announced Thursday that Seviroli Foods Inc. will grow its regional presence with the acquisition of a 33,000-square-foot production and warehouse facility in Garden City. Leveraging $350,000 in performance-based tax credits offered through ESD’s Excelsior Jobs Program, the company will invest $9 million to acquire and renovate multiple…


Tomorrow’s health tech to shine at LICA Capital Forum

By GREGORY ZELLER // Another intriguing combination of presenters and panelists marks the next Capital Forum on the Long Island Capital Alliance’s schedule, this one focused on the lifeblood of the Island’s innovation economy. Following a June networker centered around cybersecurity startups and a March pitch-a-thon spotlighting early-stage technology firms, the latest Capital Forum returns to healthcare, a Long Island socioeconomic cornerstone that has naturally become a go-to theme for LICA and its (roughly) quarterly…


Suffolk IDA engineers deal for new national HQ

A corporate consolidation in Melville is in the works, thanks in part to the Suffolk County Industrial Development Agency. The agency on Thursday issued preliminary approval for a transaction that will help Grace Industries LLC establish a national corporate office – a $17 million company investment that will consolidate several of the civil engineering firm’s existing offices in the new Melville HQ. Grace Industries, a subsidiary of the Plainview-based civil engineering conglomerate Haugland Group, currently…


Albany rings bell for Restore NY, round five

Hempstead will host an informational meeting for Long Island municipalities craving a slice of Gov. Andrew Cuomo’s latest competitive-funding pie. With $80 million up for grabs in Round 5 of the Restore NY Communities Initiative, the Empire State Development Corp. – Albany’s main economic-development engine – has scheduled three workshops around the state to educate would-be applicants on the urban-revitalization program. All three informational workshops, including a Sept. 29 meeting at Hofstra University, are scheduled…