Shoppers walk along Main Street in Patchogue during Small Business...

Shoppers walk along Main Street in Patchogue during Small Business Saturday on Nov. 25, 2023.  Credit: Morgan Campbell

Projects in Suffolk County that involve more than one form of transportation would receive $50 million under Gov. Kathy Hochul’s proposed 2025-26 state budget.

The money would “support intermodal infrastructure investments,” according to the 142-page budget book that accompanied the governor’s speech in the Capitol on Tuesday.

Asked to elaborate on the proposal, Hochul spokesman Gordon Tepper told Newsday there are “no details on this funding as of yet. Should have some specifics in the coming weeks.”

Hochul also wants to redesign the Regional Economic Development Councils competition to focus on fewer, high-dollar projects. The contest between the state’s 10 regions distributes about $750 million each year.

The REDCs, established in 2011 by then-Gov. Andrew M. Cuomo, have in recent years given small amounts to hundreds of projects statewide. The REDCs would again receive $225 million under Hochul’s proposed spending plan.

Matt Cohen, who serves on the local council as CEO of the Long Island Association business group, said, "The additional funding for transformative projects in the governor’s proposed budget will accelerate efforts to create jobs, expand the tax base and turbo-charge our regional economy."

For small businesses, Hochul said she wants to expand the Linked Deposit Program, which offers low-interest bank loans. She would establish a Low-Interest Capital program to “support hundreds of additional small businesses” who cannot be accommodated by the Linked Deposit Program.

Hochul’s budget also would add $90 million to last year’s Empire Artificial Intelligence Consortium, which is based at the University at Buffalo but includes researchers at Stony Brook University.

The consortium uses a supercomputer provided by the Simons Foundation. The foundation was established by the late James Harris Simons, founder of the Renaissance Technologies hedge fund in East Setauket and his wife, Marilyn.

Nonprofits facing grant freeze ... Affordable housing in Uniondale ... Pope remains hospitalized  Credit: Newsday

Missing girl suspect due in court ... Nonprofits facing grant freeze ... Hochul, NYC leaders meet on Adams' future ... Plainedge 'best buddies'

Nonprofits facing grant freeze ... Affordable housing in Uniondale ... Pope remains hospitalized  Credit: Newsday

Missing girl suspect due in court ... Nonprofits facing grant freeze ... Hochul, NYC leaders meet on Adams' future ... Plainedge 'best buddies'

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