Empire State Development news and press releases

See all the official press releases from Empire State Development.

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Press Release

Thursday, August 25, 2022 - 2:21pm
New Protein Plant Will Create 40 New Jobs and Retain More Than 500 Jobs in New York State Photo of New Rosina Food Facility and Product Available Here Governor Kathy Hochul today announced that Rosina Food Products, Inc. has completed a $73.2 million expansion, adding a facility in West Seneca, Erie County. The new multi-million-dollar plant will produce a variety of meat products for the fast-growing food manufacturer and will create 40 new jobs and retain 500 jobs. This is the third public-private expansion project New York State has supported to encourage growth and job creation at Rosina. Since 2014, Rosina has invested $95 million into its facilities in New York State, creating 115 new jobs. "Rosina Food Products started as a family-owned storefront operation in Buffalo, expanding into an internationally known business and one of the best-known food manufacturers in Western New York," Governor Hochul said. "New York State is proud to have partnered with Rosina on several expansion projects, and this latest multi-million dollar expansion will continue to fuel Western New York's growing economy. My administration is taking bold action to be the most business-friendly and worker-friendly state in the nation, and I congratulate the Corigliano family and Rosina employees for expanding production, creating new jobs, and excelling in the global economy." "The family-owned Rosina Food Products represents a great New York success story," said Lieutenant Governor Antonio Delgado. "Rosina's new food manufacturing facility in West Seneca more than doubles the production of the old Cheektowaga plant, which comes at a critical time when the demand for pasta products has never been greater." The 105,000 square-foot plant at 3100 Clinton Street in West Seneca will bring the company to three production facilities in Western New York and over 600 employees. The new facility includes a high-speed, state-of-the-art production line for manufacturing a variety of frozen meatballs, sliced sausage, and toppings. At maximum capacity, the new production plant in West Seneca can produce more than 50 million pounds annually and will be supplementing an older processing line currently located at the 75 Industrial Parkway facility in Cheektowaga, which has a current capacity of approximately 20 million pounds annually. New York State supported the expansion project with a $1 million capital grant recommended by the Western New York Regional Economic Development Council (WNYREDC), to assist with construction costs and the purchase of new equipment. Empire State Development is also providing up to $1 million in performance-based Excelsior Jobs Program tax credits to encourage the creation of 40 new jobs at the site, and the retention of 590 jobs statewide. Empire State Development President, CEO & Commissioner Hope Knight said, "Rosina Foods is a recognized industry leader that has been contributing to Western New York's food production economy for generations. Thanks to Governor Hochul's leadership, we are seeing businesses like Rosina flourish and compete, because they recognize the advantages that come with building a legacy in our great state." Read the full press release here.
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Press Release

Thursday, August 25, 2022 - 2:00pm
New York-Led Multi-Agency Consortium Now Includes Six States and More Than 60 Hydrogen Ecosystem Partners Partners to Develop Proposal for Federal Infrastructure Investment and Jobs Act Funding, Expected to be Released in September/October with up to $8 Billion in Total Funding Available Supports Climate Leadership and Community Protection Act Goal to Reduce Greenhouse Gas Emissions 85 Percent by 2050 Governor Kathy Hochul today announced Maine and Rhode Island have signed on to a New York-led multi-state agreement, joining with Connecticut, Massachusetts and New Jersey to develop a proposal to become one of at least four regional clean hydrogen hubs designated through the federal Regional Clean Hydrogen Hubs program included in the bipartisan Infrastructure Investment and Jobs Act. The coalition of six states and now more than 60 clean hydrogen ecosystem partners are laying the groundwork for a proposal for the United States Department of Energy funding opportunity anticipated to be announced in September or October with up to $8 billion in total funding available. Today's announcement advances each State's leadership in clean hydrogen infrastructure deployment and supports New York's Climate Leadership and Community Protection Act goal to reduce greenhouse gas emissions 85 percent by 2050. "New York is pleased to welcome Maine and Rhode Island to this diverse and dynamic group of partners as we continue our work to develop and implement a vision for a regional clean hydrogen hub that advances our shared climate goals," Governor Hochul said. "Building a robust and connected clean hydrogen market across the northeast will provide a game-changing clean energy alternative that will transform our ability to meet our shared climate goals while advancing 21st century innovation and stimulating strong economic growth throughout the region." Since the initial announcement in March, New York has continued to add strategic partners that now include 14 private sector industry leaders, 12 utilities, 20 hydrogen technology original equipment manufacturers (OEMs), 10 universities, seven non-profits, five other states, two transportation companies and three state agencies. New York will continue to engage with states and entities who are interested in joining, so as to further solidify the region as a viable clean hydrogen hub. Read the full press release here.
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Board Meeting

Thursday, August 25, 2022 - 1:30pm
In accordance with current Legislation, this meeting will be conducted via video conference and teleconference. The public may listen to the meeting via webcast by clicking the link below. Members of the public may submit comments on the Agenda items in writing to [email protected] by 5:00 pm on Wednesday, August 24, 2022. All comments received by the deadline will be distributed to the Directors prior to the meeting and will be posted online.
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Press Release

Wednesday, August 24, 2022 - 4:31pm
New York State Investments in the African American Heritage Corridor Will Continue To Reinvigorate East Buffalo Complements Governor's Historic $50 Million Targeted Investments in East Buffalo Renderings Available Here Governor Kathy Hochul today announced that the Colored Musicians Club has begun an expansion and renovations that will allow for increased tourism and visitation to Buffalo's African American Heritage Corridor. Founded in 1918, the CMC is the only remaining African American musicians' club of its kind in the U.S. It has hosted performances by such notable artists as Duke Ellington, Ella Fitzgerald, Louis Armstrong, Nat "King" Cole, Miles Davis and Cab Calloway. "This groundbreaking marks the start of a new chapter at the Colored Musicians Club and represents our deep, ongoing commitment to uplifting the East Buffalo community," Governor Hochul said. "By fostering the expansion and preservation of historic assets along the Michigan Street Corridor, we are celebrating the rich histories of Black New Yorkers and honoring their important contributions in Buffalo, our state, and our nation." "This is not just an investment in East Buffalo, but an investment in the Black people and the Black culture that runs so deep in this part of Buffalo," said Lieutenant Governor Antonio Delgado. "The renovation and expansion of the Colored Musicians Club, in addition to other previously announced investments being made in East Buffalo, will increase tourism along Buffalo's historic Michigan Street Corridor, which is rich in African American culture and history." CMC's $2.95 million expansion is the latest example of the Governor's increased efforts to attract visitors to Buffalo's East Side. The not-for-profit club will make critical improvements through the help of a $2 million a grant from Empire State Development's (ESD) $65 million East Side Corridor Economic Development Fund. These upgrades will spark increased tourism and visitation to Buffalo's historic Michigan Street African American Corridor. DASNY also provided $350,000 in funding for the project. The CMC project includes the design and construction of a new building entrance at 145 Broadway Street that will be ADA-compliant and include increased storage space for the CMC; restoration of the building's façade and renovations and expansion of the historic performance space; updated fire safety and code issues; and the completion of related site work and repaving and streetscape improvements. Empire State Development Commissioner and President & CEO Hope Knight said, "Buffalo is rapidly emerging as a top tourism destination. While some locations like the waterfront are booming, we also need to propel the Buffalo's African American community upward by capitalizing on its significant historic assets and incredible potential for growth. Renovations to the African American Heritage Corridor's anchor institutions will help draw new visitors to this emerging neighborhood to celebrate its history, music and cultural diversity. I applaud Governor Hochul for her continued efforts to do more to assist East Buffalo, which has lagged behind the rest of the City during Buffalo's revitalization." Read the full press release here.
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Press Release

Tuesday, August 23, 2022 - 12:44pm
Event's Theme — "Building an Equitable Future" — Focuses on Eliminating Barriers and Redefining Access for MWBEs Panel Discussions will Outline Contracting Opportunities and Assistance Accessing Capital Register Online for October 6-7 Event Here Governor Kathy Hochul today announced that the 2022 Minority- and Women-Owned Business Enterprise Forum will be held October 6-7 at the Albany Capital Center. The theme for this year's forum is "Building an Equitable Future." The annual New York State Minority-and Women-Owned Business Enterprise Forum provides opportunities across industries to forge new professional connections and become more competitive in an ever-changing market. This year's forum will utilize a hybrid format with virtual sessions and in-person opportunities, with attendees representing small businesses, prime contractors, lenders, elected officials, and members of the Governor's cabinet to discuss state contracting opportunities. "This annual forum has served as an important resource to help make contracting and procurement easier, fairer, and more accessible for New York's minority- and women-owned businesses," Governor Hochul said. "Now in its twelfth year, our MWBE forum will bring together business leaders, state officials, and other industry experts to discuss how we build a more equitable future in New York. I'm proud to host this year's forum, and I urge members of New York's business community to register today and join us." The 2022 Forum will be a multi-day hybrid approach, mixing in-person events and online sessions. Programs will include panels, working sessions, and both live and virtual meetups for networking opportunities. The growing list of programs will address a wide range of topics, from accessing capital to emerging opportunities for MWBEs in the growing cannabis industry. Learn more about the forum and register here. Chief Diversity Officer Julissa Gutierrez said, "Governor Hochul is dedicated to expanding opportunity and fostering economic growth while advancing diversity, equity, and inclusion for all New Yorkers. MWBEs are a vital part of economic development and we continue to strengthen access to contracting opportunities and capital so that MWBEs can truly forge ahead. The annual MWBE forum provides an opportunity to connect talented and entrepreneurial MWBEs with state opportunities that will put them on a path to success." Empire State Development President, CEO and Commissioner Hope Knight said, "New York State has made it an economic development priority to provide MWBEs with the tools they need to get certified and connect to state contracting opportunities. This year's Forum will act as a vibrant hybrid hub, giving businesses the information and networking that is critical to their success." Division of Minority-and Women-Owned Business Enterprise Development Executive Director Jerome DuVal said, "Last year, we reached a historic utilization rate for our MWBE program, but our important work continues. This year's Forum will showcase our mission of building a truly equitable future for New York State's MWBEs and the programs and initiatives that we have introduced and supported to make that future a reality. We are proud to host the nation's largest event connecting MWBEs and the private and public sectors with state contracting opportunities that will give businesses an equitable opportunity for economic growth." Read the full press release here.
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Report

Tuesday, August 23, 2022 - 10:00am
Economic Impact of Visitors in New York 2021 - Statewide Economic Impact of Visitors in New York 2021 - Adirondacks Economic Impact of Visitors in New York 2021 - Capital-Saratoga Economic Impact of Visitors in New York 2021 - Catskills Economic Impact of Visitors in New York 2021 - Central New York Economic Impact of Visitors in New York 2021 - Chautauqua-Allegheny Economic Impact of Visitors in New York 2021 - Finger Lakes Economic Impact of Visitors in New York 2021 - Greater Niagara Economic Impact of Visitors in New York 2021 - Hudson Valley Economic Impact of Visitors in New York 2021 - Long Island Economic Impact of Visitors in New York 2021 - New York City Economic Impact of Visitors in New York 2021 - Thousand Islands
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Press Release

Friday, August 19, 2022 - 3:52pm
Funding From U.S. Treasury Department's State Small Business Credit Initiative Will Support Businesses Recovering from Economic Impacts of COVID-19 Pandemic   Includes Funding for Minority and Women Owned Small Businesses Governor Kathy Hochul today announced New York State has been awarded $501.5 million in federal funds through the State Small Business Credit Initiative, which was reauthorized and expanded as part of the American Rescue Plan Act. Managed by the U.S. Department of Treasury, SSBCI provides funds to support programs for small businesses, with emphasis on those still struggling from the economic impact of the COVID-19 pandemic, and helping traditionally disadvantaged small businesses succeed in the post pandemic economy.  "Small businesses are the backbone of our economy, and far too many small business owners are still feeling the economic toll of the pandemic," Governor Hochul said. "This historic funding will be a game changer - serving as a crucial lifeline for small businesses, fueling innovative growth, and helping uplift the most vulnerable communities across New York State. I thank President Biden, Secretary Yellen, Senator Schumer, Senator Gillibrand and Democrats in the New York Congressional delegation for their leadership on the American Rescue Plan and look forward to continuing to work together as we move the Empire State's economy forward."    Secretary of the Treasury Janet L. Yellen said, "This is an historic investment in entrepreneurship, small business growth, and innovation through the American Rescue Plan that will help reduce barriers to capital access for traditionally underserved communities. I'm excited to see how SSBCI funds will promote equitable economic growth in New York and across the country."   U.S. Senate Majority Leader Charles E. Schumer said, "This historic $500 million federal investment is the shot in the arm New York's small businesses need to recover from the pandemic and rebuild our local economies. This federal assistance will help support underserved businesses, invest in entrepreneurs and small businesses in key industries like manufacturing and clean energy to address the nation's supply chain challenges, and create good-paying jobs in the communities that need them most. As majority leader, I fought to secure the State Small Business Credit Initiative federal investment as part of the American Rescue Plan to meet the unprecedented challenges faced by the nation's small businesses during the pandemic and I am proud to now deliver this federal funding for New York to build up the state's small businesses and manufacturing base to accelerate our recovery, and drive our economy into the future."  Senator Kirsten Gillibrand said, "I am so proud to have helped secure this historic federal funding for SSBCI in the American Rescue Plan. This funding will provide critical resources and increase access to capital for our state's small business owners. Fighting for New York's small businesses means fighting for a bright future and economic prosperity in our state."   Representative Carolyn Maloney said, "Small businesses are the lifeblood of New York City, but unfortunately, they bore the brunt of the COVID-19 crisis. I am thrilled that Congress could deliver the American Rescue Plan, which helped so many individuals and small businesses who were struggling throughout the City and State. Today, is a critical step in getting the funding from ARP into the pockets of those who need it most as The White House formally approves New York State's $501 million small business funding plan under the American Rescue's Plan's State Small Business Credit Initiative (SSBCI). I commend Governor Hochul for working swiftly with the President so that our small businesses in need can keep their doors open." Representative Gregory Meeks said, "Small businesses are the backbone of our economy. Governor Hochul's planned use of American Rescue Plan SSBCI funds recognizes the integral role small businesses play in their community's economic development in the post-pandemic economy. This will provide the necessary resources and support, especially for minority and women owned business, to overcome structural and institutional challenges to their continued growth." Empire State Development President, CEO and Commissioner Hope Knight said, "New York was among the hardest hit by the devastating effects of COVID-19, and many of our state's small businesses are still trying to recover. SSBCI funding will go a long way to help these businesses, particularly those who face historic disadvantages, like MWBEs.  Through a mix of programs designed with businesses' needs in mind, ESD will ensure this critical support gets to those who deserve it most."  Through Empire State Development, New York State is establishing a suite of programs that will match federal support to the critical needs of the state's small businesses. This programming includes a mix of new initiatives and the expansion of existing programs, focusing on capital access, loan guarantees, loan participation programs, collateral support, venture capital for fund managers and start-ups, and technical assistance. Read the full press release here.
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Press Release

Thursday, August 18, 2022 - 9:20pm
Empire State Development today announced ThermoAI as the winner of the Helping Upstate Science & Technology Leaders & Entrepreneurs (HUSTLE) Defense Accelerator “Demo Day” at the Griffiss Institute in Rome, Oneida County. The HUSTLE Defense Accelerator is an elite and immersive 12-week training academy for seed stage startups pushing Artificial Intelligence (AI), Machine Learning (ML), cyber, quantum, and UAS solutions with potential to elevate the United States’ national security and economic competitiveness. CyberSpara was the runner up in the competition. ESD President, CEO and Commissioner Hope Knight said, "The Griffiss Institute’s HUSTLE Defense Accelerator draws the best and brightest startup talent to help further build the Mohawk Valley’s defense industry ecosystem. I would like to congratulate ThermoAI and CyberSpara for their successful pitches tonight. ESD is proud to support companies that will create solutions for real world issues and increase New York State’s economic competitiveness in national security."   "Innovare Advancement Center is home to the first and only startup incubator in New York State aiming at the nexus of national security and economic competitiveness for our region, our state, and our nation," said Heather Hage, President and CEO of Griffiss Institute. "With thanks to New York State, ThermoAI and CyberSpara now have the opportunity to bring their innovative technologies to life right here in the Mohawk Valley. Our community is highly motivated to give them a runway to the world of defense innovation." The HUSTLE Defense Accelerator culminates in a Demo Day where qualifying HUSTLE teams have the opportunity to pitch for up to $300,000 to scale their ventures in the Mohawk Valley made possible by a $2 million Upstate Revitalization Initiative grant from Empire State Development, recommended by the Mohawk Valley Regional Economic Development Council (MVREDC). ThermoAI, the first-place winner, will receive $200,000 and will locate their business in the Mohawk Valley for 12 months. ThermoAI, from Binghamton in Broome county, develops artificial intelligence to optimize combustion- directly reducing high-risk refueling missions, cutting operational costs, and reducing emissions. Founded by a machine-learning Ph.D. from Oxford, a chemical engineer, and a published applied AI expert. Backed by NSF, NYSERDA, Creative Destruction Labs, and Techstars AI. CyberSpara, the second-place winner, will receive $100,000 and will locate their business in the Mohawk Valley for 12 months. CyberSpara, hailing from Canton in St. Lawrence county, helps business owners, educational institutions, and government agencies  such as the Department of Defense and the Air Force to equip themselves with proper tools and empower individuals to reduce cyber threats and mitigate such national security challenges. The other two teams competing during Demo Day included: McGuirk USA (Westerbrook, ME) The Team of McGuirk USA (MUSA), Datalytica, and Quanterion Solutions Incorporated (QSI) provide consultants for engineering, data analysis, cyber, and counterintelligence support to industry, defense, and government programs globally. Secwins (Syracuse, NY) Secwins, LLC designs, develops, and deploys tailored and secure digital twins to provide a single view of truth across fragmented data sources. Secwins digital twins includes data mapping and normalization, system operation and security risk assessment, and any training, monitoring, and maintenance needed. MVREDC Co-Chairs Lawrence T. Gilroy III, President of Gilroy, Kernan & Gilroy, Inc. and Dr. Marion Terenzio, SUNY Cobleskill President, said, "The MVREDC recommended funding for the Hustle Defense Accelerator because it has strong history of attracting companies that are fueling innovation in the Mohawk Valley Region and giving them a leg up to succeed. We are pleased to welcome these two new start-ups to the region and can’t wait to see them become a part of the ecosystem that helps continue to move the Mohawk Valley economy forward." Senator Joseph Griffo said, "Congratulations to all those who participated in the Helping Upstate Science & Technology Leaders & Entrepreneurs Defense Accelerator ‘Demo Day’ and training academy at the Griffiss Institute in Rome. This event provided participants with an important opportunity to develop, pitch and grow innovative ideas and ventures in a variety of high-tech industries. These new enterprises will build upon the significant research and development that takes place every day in Oneida County and the Mohawk Valley." Assemblywoman Maryann Buttenschon said, "I want to thank the Empire State Development team, the Mohawk Valley Regional Economic Development Council, The Griffiss Institute, and Innovare Advancement Center for their leadership and involvement with the Hustle Defense Accelerator Competition. This training academy is vital to the future of technological innovation."                                                                                                    Oneida County Executive Anthony J Picente, Jr. said, "The Griffiss Institute is a tremendous partner to Oneida County and the HUSTLE program that it operates at our Innovare Advancement Center is a prime example of how together we are shaping the future of the high-tech defense industry. I would like to congratulate all of the HUSTLE teams for displaying such innovative approaches to elevating our national security and I wish the winners the best of luck as they reinvest their prize money in the Mohawk Valley." Rome Mayor Jacqueline M. Izzo said, "HUSTLE Defense Accelerator is an important component of our economic development strategy to grow new entrepreneurial businesses supporting artificial intelligence (AI), cybersecurity, quantum computing, machine learning (ML) and UAS. The teams who participated in Demo Day presented new business solutions to continue building new hardware and software infrastructure to compliment the R&D efforts of Rome Lab and their contractors. We are hopeful these companies will grow and prosper right here in the Mohawk Valley as a result of their collaborative experiences nurturing new product ideas through the 12-week HUSTLE experience. ESD has led the way with funding supporting HUSTLE through the REDC process because they recognize with assets like AFRL, Skydome, Innovare and the Griffiss Institute programs like HUSTLE are vital to continue growing the region’s technology-based workforce to support our national defense." About Empire State Development Empire State Development (ESD) is New York’s chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the Regional Economic Development Councils and the marketing of “I LOVE NY,” the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov. About the Griffiss Institute The Griffiss Institute (GI) is a nonprofit STEM talent and technology accelerator for the United States Department of Defense and an international network of academic, government and industry partners. Since 2002, the GI has served the Air Force, the Mohawk Valley region, and the United States, empowering diverse teams with talent and technology development programs that lead the nation in technical and economic impact. In the past five years, the GI has partnered with Rome Lab to host 271 visiting scientists, employ 823 interns, support 508 local K-12 students with tuition-free STEM Camps during school breaks, and trained 63 startups in defense tech commercialization with 47 graduates of its incubator. Devoted to converging teams and technologies to solve complex national challenges, the GI is proud to enable its international network from its home at Innovare Advancement Center in New York’s picturesque Mohawk Valley. About the Innovare Advancement Center The Innovare Advancement Center is a 150,000 square foot open innovation hub that converges world-class scientific, engineering, and entrepreneurial talent from universities, government, and industry to tackle new challenges in artificial intelligence, machine learning, cybersecurity, quantum, and unmanned aerial systems. Innovare’s unique capabilities include highly specialized laboratories for experimentation in quantum communications and neuromorphic computing, 40,000 square feet of high-tech and high-speed communications-enabled collaboration spaces, an auditorium with capacity for over 250 people, an access point to the NY UAS Test Site, and coming in spring 2022 – an indoor unmanned aerial system (UAS) research and testing facility with 110,000 square foot indoor flight testing area - the largest in the United States. Contact: Kristin Devoe (ESD): [email protected] | (518) 414-1087 ESD Press Office: [email protected] | (800) 260-7313
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Board Meeting

Thursday, August 18, 2022 - 10:00am
In accordance with current Legislation, this meeting will be conducted via video conference and teleconference. The public may view and listen to the meeting via webcast by clicking the link below. Members of the public may submit comments on the Agenda items in writing to [email protected] by Noon on Wednesday, August 17, 2022. All comments received by the deadline will be distributed to the Directors prior to the meeting and will be posted online.
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Press Release

Wednesday, August 17, 2022 - 5:31pm
$50 Million To Support Regional Competition and Accelerator Program Focused on Life Sciences and Healthcare Technology Empire State Development Convened Meeting for Industry Input To Drive Life Science Ecosystem Support Through Upcoming RFP Governor Kathy Hochul today launched the life sciences business competition, a component of the $350 million Long Island Investment Fund. A request for proposal will be the first step for the Long Island Investment Fund's $50 million life science business competition, which aims to attract and grow companies in the life sciences, health technology, and medical device sectors. Empire State Development convened a meeting of experts in the life sciences industry to gather initial input for the RFP competition process. "New York is proud to lead the way with strategic investments that will create transformative opportunities on Long Island and across the state," Governor Hochul said. "The Long Island Investment Fund's life sciences business competition will drive economic growth and innovation, supercharging the region into a powerful commercial life sciences hub." Included as part of Governor Hochul's historic FY 2023 Enacted Budget, the Long Island Investment Fund will focus on projects that will support and grow the regional economy, enhance communities, and have lasting economic impacts across Long Island. In addition to the life sciences business competition, the Fund will allocate $250 million for transformative regional development projects and $50 million for the construction and operation of a workforce development center. The competition will implement a business accelerator to work collaboratively with Long Island universities and research institutions to support life science start-up businesses with potential for permanent high wage job creation and promising technology commercialization. The Long Island business competition will be designed in the mold of and to complement other successful New York State business competitions, such as Grow-NY and 43North. Empire State Development Board Chairman Kevin Law said, "Under Governor Hochul's leadership, Long Island is positioned to be at the forefront of the competitive life sciences industry. The Long Island Investment Fund's business competition will attract and grow life sciences organizations — adding to an already impressive roster rooted on Long Island — and will be key to elevating the region's commercial life science ecosystem." The life sciences industry has become a powerful growth engine for New York State, turning key regions of the state into dynamic life science hubs that includes organizations and institutions dedicated to various stages of research, development, technology transfer and commercialization. Long Island is home to established life sciences companies and institutions that have been crucial to the progress of unlocking innovative technology and modern therapeutics, such as the Feinstein Institutes for Medical Research, Cold Spring Harbor Laboratory, Brookhaven National Labs, as well as Stonybrook University. The $50 million life sciences infusion from the Long Island Investment Fund will further position Long Island and New York State to lead in cutting edge sectors, including innovation, biotechnology, life sciences, and biomedical investments. Empire State Development President, CEO and Commissioner Hope Knight said, "New York State is a leader in life sciences innovation in part due to the State's strategic investments to grow a stronger life science ecosystem on Long Island and across the State. The Long Island Investment Fund's life science business competition will not only catalyze economic growth in the region, but it will also advance our ability to research and develop innovative technology that will strengthen New York's leadership in the global innovation economy." Read the full press release here.
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