Long Island granted $62 million for business projects

feinstein-exterior-newsLong Island Business News – December 8, 2016

Gov. Andrew Cuomo’s regional development contest awarded $62 million in state aid to Long Island Thursday, about $36 million less than last year, Cuomo’s office announced.

Some of the region’s big winners include projects at Farmingdale State College and the Calverton airbase, as well an initiative by Northwell Health.

The annual contest for state funding, which began in 2011, is designed to provide funding for innovative building and business projects that proponents say will create hundreds of jobs. The state is divided into 10 regions that submit proposals and are then winnowed down to the finalists.

The awards, which amount to up to $750 million in state grants and tax cuts, are divided among the 10 Regional Economic Development Councils competing for funding.

Long Island’s council is led by Kevin Law, president of the Long Island Association, and Stuart Rabinowitz, Hofstra University’s president.

According to the state, the $62 million will go to support 101 of the proposals. The highlights include:

$1 million to support Modern Meadow’s manufacturing facility: Modern Meadow Inc., a START-UP NY company located in Brooklyn, will lease space at Farmingdale State College Bio Park. The company will use this space to conduct all research and development, pilot manufacturing, commercial demonstration manufacturing and house corporate offices.

$1 million to support Luminati Aerospace, LLC: Luminati Aerospace will expand the development and manufacturing of unmanned aerial vehicles (UAVs) at Riverhead’s Calverton Industrial park. The project will enhance the renewal of Long Island’s aerospace industry. Luminati Aerospace is an aerospace technology company focusing on research, development, testing, and manufacturing of next generation solar-electric UAVs, at its facility located at the historic Calverton airbase (formerly Grumman Aerospace) in Riverhead, Suffolk County.

$500,000 to support Northwell Health’s Center for Advanced Engineering:

Northwell Health is currently planning to renovate existing space within the Boas Marks Pavilion in Manhasset to establish the Center for Advanced Engineering at the Feinstein Institute for Medical Research. The Center will include new research space that will house clean room facilities for microfabrication, electronics and biosensors laboratories, rapid prototyping facilities with 3D printing and laser fabrication equipment, and computational and data analytics facilities.