Governor Hochul Announces Request for Applications for Life Sciences and Workforce Development as Part of the $350 Million Long Island Investment Fund

December 29, 2022

Two $50 Million RFAs Are Part of Broader Strategy To Develop and Strengthen Long Island's Economic Competitiveness

Interested Applicants Can Learn More and Apply Here

Governor Kathy Hochul today announced two Requests for Applications as part of the $350 million Long Island Investment Fund. Empire State Development will issue one RFA for the creation of a Life Science Accelerator Program and one for the creation of Workforce Development Training Centers. These Long Island Investment Fund RFAs present an opportunity to supercharge the growing life sciences ecosystem in the region and build on Governor Hochul's vision of supporting regional workforce development plans that provides in-demand skills and direct job placement.

"My administration continues its commitment to supporting the groundbreaking innovation and workforce development that keeps New York State on the cutting edge through its many regional strengths, including Long Island's life sciences leadership," Governor Hochul said. "The Long Island Investment Fund will expand opportunity by accelerating development of early-stage companies that will transform the area's industry landscape and targeting workforce training to meet the needs of high-growth employers. Through these partnerships, we are helping to fill critical roles by preparing New York job seekers for careers of the future."

Included as part of Governor Hochul's FY 2023 Enacted Budget, the Long Island Investment Fund has three components: $250 million to support transformative projects, $50 million to support an accelerator program with a venture competition, and $50 million to support workforce development. To date, more than $55 million out of $250 million has been allocated on projects that will support and grow the regional economy, enhance communities, and have positive long-term impacts across the region. The two $50 million RFAs being announced today, sponsoring the development of an accelerator program and supporting workforce development, demonstrate an important step forward in delivering on Governor Hochul's vision to strengthen the region's future by fostering the growth of commercialization in Long Island's life science research corridor and build the foundational infrastructure needed to support the region's talented workforce and needs of regional industries.

Empire State Development President, CEO and Commissioner Hope Knight said, "With today's announcement, New York is laying the groundwork to build upon State investments to Long Island's life science ecosystem and regional workforce needs. Under Governor Hochul's leadership, the Long Island Investment Fund will prepare the region's workforce of tomorrow and supercharge Long Island as a hub of technology and innovation."

Empire State Development Board Chairman Kevin Law said, "Long Island is where innovation and opportunity intersect. Through Long Island Investment Fund RFAs announced today, we are going to transform the region's life science corridor and create opportunities for a better future for residents and businesses for generations to come."

Read the full press release here.