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LI awarded $59.7M in state development aid
ALBANY -- Long Island Wednesday was awarded $59.7 million in state aid to support building projects and business expansions that create hundreds of jobs.
But Nassau and Suffolk counties fell short of placing among the big winners in Gov. Andrew M. Cuomo’s annual competition among the state’s 10 regions for development dollars. Last year, the Island, Buffalo, Syracuse and the North Country outpaced everyone else.
The grants and state tax credits coming to the Island this year will support 86 projects.
Officials said the support would provide needed momentum for an addition to the bioscience business incubator at Farmingdale State College, redevelopment of the Nassau Hub and construction of research centers at Winthrop University Hospital and Stony Brook University.
The awards also provide additional support for projects that shared in 2011 grants, including the Wyandanch Rising blight transformation project and the Ronkonkoma LIRR-MacArthur Airport transit hub.
Cuomo announced the awards Wednesday during a ceremony in a theater near the Capitol. He acted on recommendations from the Long Island Regional Economic Development Council.
In September, the council submitted a report outlining how it spent $101.6 million in grants and state tax credits that were given last year, and made a case for additional funding.
The 25-member council is led by Kevin Law, president of the Long Island Association business group, and Stuart Rabinowitz, president of Hofstra University.
Cuomo established the Long Island council and nine others across the state to develop regional jobs plans for the next five years, and to vie for hundreds of millions of dollars in economic development aid which previously had been handed out in a haphazard fashion. Up to $762 million in allocations were announced today.