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Business

Friday is deadline to apply for millions in state business aid

Companies, local governments and not-for-profit organizations have until Friday to apply for state business aid which is expected to total between $90 million and $105 million on Long Island this year.

Applications are due to the Long Island Regional Economic Development Council by 4 p.m. The council, appointed by Gov. Andrew M. Cuomo, will review the requests and make recommendations to 11 state agencies that are providing the funding.

The Consolidated Funding Application and more information can be found at apps.cio.ny.gov/apps/cfa/.

This is the fifth year the Cuomo administration has used a competition among the state's 10 regions to distribute business aid.

Long Island's council has secured $326.2 million over four years for 347 projects. That's the third-largest amount after Syracuse and the Adirondacks.

Applications are judged on a 100-point scale, with the local council awarding up to 20 points and the state agencies that provide the funds, up to 80 points.

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