Economic Development

Melville credit firm gets power grant

A Long Island credit services company is among 15 statewide firms that will receive low-cost electrical power through the latest round of Gov. Andrew Cuomo’s ReChargeNY program. RUI Management Services, which is headquartered in Melville and claims regional offices throughout the nation, will share 10.4 megawatts of low-cost electrical power with 14 other New York State businesses, according to a statement from the governor’s office highlighting the 12th round of ReChargeNY allocations. Including the 10.4…


Cuomo unveils $4B LaGuardia redo

Gov. Andrew Cuomo is pitching an innovative $4 billion makeover of LaGuardia Airport that would consolidate its four terminals into one hub and reposition the facility closer to Grand Central Parkway. In addition, the airport would be connected to public transit via an AirTrain link and 24-hour ferry service. Delta Air Lines, which owns the current Terminals C and D, would be a “full partner” in the project with the Port Authority of New York…


Hofstra, LIFT, arts group win state funding

Hofstra’s medical school, LIFT’s composite program and the Long Island Arts Alliance were among the winners of the latest round of Albany economic development funding announced Tuesday. A total of $17 million in grants was awarded by the Empire State economic development arm. Long Island was honored with $438,000. The Hofstra award of $152,000 is earmarked for furniture, fixtures, computers, tablets and associated equipment to support the university’s Medical Scholar’s Pipeline Program. The program is…


New lottery promotion: Scratch for Long Island

The New York Lottery and the state’s tourism arm are launching a scratch-off game to promote tourism to five parts of the state. As per usual, Long Island not included. The $2 tickets offer 15 different vacation packages to New York City, Cooperstown, the Adirondacks, Niagara Falls and the Finger Lakes valued at $5,000 apiece, up to $25,000 in cash and $25 worth of “I Love NY” merchandise. Gov. Andrew Cuomo announced the new scratch-off game on Sunday as…


FAA funding safety upgrades at Republic

Farmingdale’s Republic Airport is in line for more than $24 million in safety upgrades via funding from the Federal Aviation Administration and New York State. The enhancements include realigning runways, the relocation of a taxiway and nearby hangars, realigning the airport’s perimeter road, improved signage, runway markings and lighting and the installation of a security fence. Republic sits on 526 acres and features two asphalt runways, a two-story terminal, nine jet hangars and more than 460…


Debrief: Phil Rugile, LaunchPad Huntington

A longtime strategic consultant and successful entrepreneur in his own right, Phil Rugile is the perfect soldier to fight for Long Island’s innovation economy, and the right man to lead the energetic LaunchPad Huntington facility. Also an Entrepreneur in Residence for Accelerate Long Island, the human capital strategist at eGifter and founder of 100 Urban Entrepreneurs – a nonprofit mentoring program for inner-city startups – Rugile is media-savvy, highly creative and enthusiastic about the Island’s…


SBU, East End duck farm get state grants

Stony Brook University is in line for a $1 million grant to help renovate and purchase equipment for its College of Engineering and Applied Sciences as part of $18 million in economic development funding the state announced Thursday. A second $250,000 award was approved for private Aquebogue firm H.F. Corwin and Sons to help fund improvements to its state-of-the-art duck hatchery. All told, the winning projects are slated to create 403 new jobs and retain…


Buffalo biz plan contest attracts thousands

New York’s 43North business plan contest received a record 3,000 qualified entries seeking a shot at big bucks, free incubator space and mentorship. The downside: You have to set up shop in Buffalo. Nonetheless, more than 11,000 entrepreneurs signed up for the second running of the program, a 64 percent jump over 2014. Entrants came from all 50 states, nine of the 10 Canadian provinces and 117 countries. Sectors included software development, web and mobile technology,…


In Suffolk, a call for an innovation connection

By GREGORY ZELLER // The ambitious master plan Suffolk County Executive Steve Bellone unveiled Tuesday – new public transportation options linking Suffolk’s burgeoning downtowns and major research centers – has plenty of regional support. But even ardent backers can’t ignore the project’s estimated price tag. Bellone’s sweeping plan, dubbed the Long Island Innovation Zone, includes a dedicated rapid-transit bus lane running from Stony Brook University to the Village of Patchogue that parallels a new hiking/biking…


State hires Newmark, Cushman to push Start-Up NY

The state has hired two of New York’s top real estate firms to help market space at state schools for its Start-Up NY business incubator program. As part of the deal, Cushman & Wakefield will handle upstate and western New York, while Newmark Grubb Knight Frank will rep Long Island and other adjacent regions. New York City, where SUNY schools already have relationships with area brokers, is not included in the program. Cushman and Newmark…


Start-Up NY gets passing (barely) grade from Siena

Start-Up NY won narrow support from voters in a Siena College poll released Tuesday, with 52 percent of respondents saying they favor the program, which gives tax breaks to companies willing to relocate to approved college campuses. The majority of the support – 62 percent – came from Democrats, with the program resonating the strongest geographically with NYC and its suburbs. Only 45 percent of upstate residents said they supported the benefits. Start-Up has been…


DEBRIEF: Congressman Lee Zeldin

The transition from Albany to Washington has been an eye-opener for freshman U.S. Rep. Lee Zeldin, the 1st District Republican. Not yet six months into his first congressional term – and with challengers already lining up for the 2016 election – he’s getting a much clearer picture of how Long Island fits into the massive jigsaw that is the U.S. economy. And he’s finding that whatever topic is on the table, economics are always in…


Tom Golisano

BUFFALO WATCH: More Paychex for Western NY

In another non-Long Island score for Gov. Andrew Cuomo’s Start-Up NY program, former Buffalo Sabres owner Tom Golisano is spearheading a “multi-million-dollar investment” that will bring 267 new jobs to Western New York. The undisclosed investment by Golisano, founder of Rochester-based payroll-services company Paychex, will help tech manufacturer Bak USA create 167 new positions and expedite the creation of 100 jobs the company committed to when qualifying for Start-Up NY tax benefits. Bak USA, one…


CSHL's Bruce Stillman

CSHL plans new center to push research to market

BY JOHN L. KOMINICKI // Cold Spring Harbor Laboratory plans a $75 million therapeutic research center that would help speed to market treatments for cancer, autism and other diseases without waiting for the pharmaceutical industry to “catch up,” lab director Bruce Stillman said Tuesday. The center, which would rely on a $25 million grant from New York State and $50 million from the National Institutes of Health, would help cure a persistent problem with commercializing…


stuart rabinowitz

State’s annual eco-dev competition set to start

The state kicked off its annual regional economic development council competition, which this year includes an extra $1.5 billion for upstate projects. As in previous years, the competition will split $750 million between New York’s 10 regional councils, with three top winners receiving $105 million each and others landing about $90 million per region. The program will also award three $500 million awards, to be disbursed at a rate of $100 million per year for five…