Economic Development

LISTnet’s bursting Ballpark adds new office

By GREGORY ZELLER // They’re cramming them into the Digital Ballpark, the Long Island Software & Technology Network’s price-controlled Plainview co-working space. Currently juggling about 20 full-time residents, the Ballpark – a joint project with Stony Brook University’s Center of Excellence in Wireless and Information Technology and Infosys International, which owns the building at 100 Terminal Drive – is expanding. With more professional clients interested in the co-working facility’s private offices, shared spaces and tech-friendly…

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LICA sets flashy lineup for Healthcare Forum

By GREGORY ZELLER // The Long Island Capital Alliance has announced a high-profile roster of presenters and panelists for its Dec. 9 Healthcare Capital Forum. The event – one of several capital forums hosted annually by the Capital Alliance, which aims to put regional early-stage companies in front of an experienced review board and an audience of potential investors from Long Island and beyond– has attracted a healthy cross-section of healthcare startups, including two based…


LI Bioscience Hub backs 10 in new funding round

By GREGORY ZELLER // A fresh batch of commercially promising biomedical innovations has been funded by the Long Island Bioscience Hub. The LIBH’s third round of grant awards – bestowed upon 10 distinct applicants hailing from Stony Brook University, Cold Spring Harbor Laboratory and the Feinstein Institute for Medical Research, three of the hub’s four partner institutions – totals $550,000. Stony Brook-based research earned seven of the awards, including the only $100,000 “proof of concept”…


Schumer: Biz-development funds big deal for SBU

By GREGORY ZELLER // New York’s two U.S. Senators, including the freshly minted Senate minority leader, are heralding a series of competitive U.S. Department of Commerce grants that will fund business-development initiatives around the nation – including formal mentoring and new training through Stony Brook University’s Center for Biotechnology. The SBU initiatives, including seminars for companies competing for National Institutes of Health funding, will be covered by a $500,000 grant from the Commerce Department’s Economic…


Start-Up NY adds 39, including two LI companies

By GREGORY ZELLER // Thirty-nine early-stage companies, including two on Long Island, have been welcomed into the Start-Up NY program. The companies will either launch in or relocate to “tax-free zones” at or near New York colleges and universities – an ambitious program designed to let entrepreneurs hold onto working capital while simultaneously fostering innovation hubs and bolstering regional economies. The Long Island region will be bolstered by the creation of 26 new jobs, according…


One and done for IDP Consulting, Suffolk IDA

By GREGORY ZELLER // It’s a win for Suffolk and a loss for Nassau, though ultimately, Long Island comes out ahead. The Suffolk County Industrial Development Agency on Thursday approved an incentives-laden deal for IDP Consulting, a 30-year-old IT firm that will use the assistance to relocate from Jericho to Hauppauge. The sales tax-abatement incentives package will allow the company to sink $315,000 into leasing, renovating and equipping its new 6,200-square-foot office on Engineers Road….


LIREDC 2016: Synthetic leather, wings and prayers

By GREGORY ZELLER // With a string of annual victories under its belt, the Long Island Regional Economic Development Council is shooting for the moon, once again. This week, the LIREDC – co-chaired by Hofstra University President Stuart Rabinowitz and Long Island Association President Kevin Law – recommended 112 distinct projects for tens of millions of dollars in state aid, to be doled out later this year through Gov. Andrew Cuomo’s annual REDC competition. Among…