Economic Development

LICA seeks healthcare heroes for next forum

Fresh from its successful June 9 Cybersecurity Capital Forum, the Long Island Capital Alliance has put out the call for its next inventors-meet-investors networker, this focused on one of Long Island’s most active verticals: healthcare. The nonprofit capital-formation and business-development organization is accepting business-plan applications through July 21 from early-stage healthcare companies interested in pitching at the Healthcare Capital Forum, scheduled for Sept. 27 at RXR Executive Park in Melville. Like other LICA forums, the…


In SBU’s incubators, it’s all about who you know

By GREGORY ZELLER // From the Couldn’t Have Done It Without You file comes the 2017 Incubator Showcase, a victory lap for past and current products of Stony Brook University’s diverse economic-development ecosystem – many of whom say they’d have been nonstarters without the university’s help. Packed into a large conference space inside SBU’s Center of Excellence in Wireless and Information Technology, Thursday’s event was an impressive sight indeed: dozens of early-stage enterprises representing a wide…


Innovation’s past, present, future at SBU showcase

By GREGORY ZELLER // Stony Brook University is gearing up for its annual business-development victory lap. Hosted by the university’s Office of Economic Development, SBU’s second-annual Incubator Company Showcase is a chance for the multifaceted school to flex its innovation muscle – a joint presentation of its Centers of Excellence, Centers for Advanced Technology and myriad business incubators, designed to highlight the cutting-edge creativity and business acumen comprising SBU’s entrepreneurial ecosystem. It’s also a chance…


Big plans, but Hub still hinges on Suffolk sewers

By MICHAEL FAIRLIE // Progress is coming in drips and drabs, but the lack of sufficient sewer systems remains the No. 1 impediment to the ambitious Ronkonkoma Hub redevelopment project. That was the main message Wednesday, when the MacArthur Business Alliance – a 23-year-old networking organization promoting commercial, industrial and not-for-profit interests across Suffolk County – hosted a meeting at Ronkonkoma’s Courtyard by Marriott to update interested parties on the project’s progress and potential effects….


Bell rings for Round 2 of $100M downtown initiative

New York State’s Downtown Revitalization Initiative is back for a $100 million second round. Governor Andrew Cuomo has announced the launch of Round 2 of the program, which will once again offer monetary and other support to the creation of Strategic Investment Plans for rebuilding efforts in 10 designated downtown communities across the state. The initiative, part of a “comprehensive approach” to neighborhood and economic transformations across New York, looks to “build upon the successful…


Preliminary approval for high-tech, housing tax deals

Dozens of high-paying tech jobs and affordable rental housing for those who aren’t paid quite that much are in the mix with two transactions preliminarily approved Thursday by the Suffolk County Industrial Development Agency. The IDA took a step toward green-lighting an incentives package for Melville-based technology products and services provider NeuLion Inc., which specializes in the broadcasting, distribution and monetization of live and on-demand digital video content. With the agency’s help, NeuLion plans to more than double…


With $800 million at stake, let the games begin

It’s on: Governor Andrew Cuomo on Tuesday officially opened the seventh round of the annual Regional Economic Development Council competition, a statewide funding contest in which each of the state’s 10 economic-development zones wins, but some win more. This year, the 10 REDCs will be combing through individual project pitches and preparing master proposals for their slice of the chunkiest state pie yet: more than $800 million in economic-development resources, including grants, tax breaks and…


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…


Building a better economy, one tiny house at a time

By GREGORY ZELLER // Education and industry are once again joining forces, this time to ensure Long Island has the workforce it needs to capitalize on a burgeoning national industry. As the environmentally friendly Tiny House Movement builds momentum, an arrangement between Eastern Suffolk BOCES, Selden business-development services provider Dynamic Supplier Alignment and Riverhead sustainable-housing expert Hunter Shelters will school BOCES brains on the science of going small. The educational cooperative of 51 Suffolk County…


Suffolk IDA tax deal backs longtime label-maker

A decade-long tax-incentives package will allow a longtime Farmingdale-based label-maker to grow its Long Island operation. The Suffolk County Industrial Development Agency on Tuesday approved a 10-year, $332,000 package filled with tax abatements and other goodies for Precision Label Corp., a circa-1990 manufacturer and distributor of pressure-sensitive labels, printed packets and rebate cards for the pharmaceuticals, cosmetics and wine industries, among others. The tax breaks will allow the company to relocate from its 16,500-square-foot space in Farmingdale to…


Albany backs Island downtown-rehab efforts

Three Long Island downtown-restoration projects were among 75 statewide rehabilitation efforts earning state funds Thursday through Albany’s Restore New York Communities initiative. All told, project manager Empire State Development – Albany’s main economic-development engine – doled out nearly $40 million in Round 4 of the competitive initiative, which Gov. Andrew enacted as part of the state’s Fiscal Year 2016 budget Round 4 began in June 2016 with statewide towns and villages applying for program funds…


The end is nigh for sputtering Start-Up NY

By GREGORY ZELLER // While several components of Gov. Andrew Cuomo’s proposed FY2018 budget will probably meet resistance in Albany’s corridors of power, at least one is likely to sail straight to legislative approval: the end of the Start-Up NY program. While not officially terminating Empire State Development’s underachieving economic-development effort, the governor’s spending plan purposefully rebrands it: Say hello to the Excelsior Business Program (but make it quick, because phonetic similarities to the existing…


LI rainmakers applaud Albany’s life-science focus

By GREGORY ZELLER // A day before sharing his 2017 social and economic vision for Long Island, Gov. Andrew Cuomo offered some music for the Island’s ears. Cuomo, who on Monday delivered the Buffalo and New York City versions of his 2017 State of the State proposals, is scheduled to bring his annual SOTS tour east on Tuesday. But first, his office reaffirmed the governor’s plans to pump $650 million into the state’s burgeoning life-sciences…


Suffolk IDA approves RPA spending

Suffolk County’s Industrial Development Agency has re-upped its consulting agreement with the NYC-based Regional Plan Association, experts at redeveloping downtowns and creating next-gen housing and transportation hubs. The IDA approved spending up to $100,000 with RPA in 2017, continuing a relationship that extends back to 2013. Since then, the RPA has worked with several Suffolk communities, including Lindenhurst, Amityville, Smithtown, Kings Park and the town of Babylon.


Center for Biotechnology answers feds’ ‘Challenge’

A $500,000 U.S. Department of Commerce “challenge award” for the Center for Biotechnology at Stony Brook University is part of a $15 million round of federal economic-growth stipends – including nearly $2 million for New York-based initiatives. The Center for Biotechnology – designated a Center for Advanced Technology by NYSTAR, the science and innovation division of Empire State Development, Albany’s main economic-development engine – received the largest of the six federal awards announced Thursday. The…