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Issues and events that shape Long Island's economic and legislative landscape.

Tuesday, July 29, 2014

Long Island Regional Economic Development Council Holds Third Meeting

Council approves Consolidated Funding Application (CFA) Endorsement Criteria and
Modifies Vision Statement

On Tuesday, September 13, 2011, the Long Island Regional Economic Development Council, co-chaired by Stuart Rabinowitz, President of Hofstra University, and Kevin Law, President of the Long Island Association, held its third meeting at Suffolk County Community College's Eastern Campus in Riverhead.  The purpose of this public meeting was to generate ideas about how to develop the strategic plan for long-term, sustainable, regional economic growth.

Each of the Development Council's working groups presented a report on their work to date including strategies, projects, actions and policy changes that are needed to be accomplished in order to move the Long Island region closer to the vision of what the region should become in the next five years. The council also adopted a modified Vision Statement. To see the Vision Statement, make suggestions and keep up with the Long Island Regional Council, please visit: http://nyworks.ny.gov/content/long-island.

"The progress communicated at this meeting offered assurance that we are getting ever closer to our goal of creating a cohesive and forward-thinking Strategic Plan for economic development on Long Island," said Stuart Rabinowitz, Co-Chair of the Long Island Regional Council and President of Hofstra University. "With the work of all of our members, volunteers and the upcoming input we will be welcoming through our public forums and other means, I expect us to see an exciting strategy come together over the next several weeks."

"The Long Island Regional Council took a significant step forward at this meeting by approving its Consolidated Funding Applications (CFA) Endorsement Standard," said Kevin Law, Co-Chair of the Long Island Regional Council and President of the Long Island Association. "This standard will serve as a guideline for the review and ranking of future applications and by adopting it early in our Strategic Planning process, our Regional Council has given candidates a framework by which to prepare successful applications."

"The Innovation and Industry Clusters, Workforce and Education, Infrastructure, Nassau Hub committee and Natural Assets work groups have met frequently to focus on strategies from their unique perspectives," said Andrea Lohneiss, Executive Director of the Long Island Regional Council. "Strategies give relevance to the development and prioritizing of projects within the region and the council voted to accept the scoring criteria that they will use to determine the regional council endorsements of projects submitted to state agencies from this point forward."

Dr. Shaun L. McKay, President of Suffolk County Community College, commented, "There is a strong link between education and economic development. Through education comes revitalization and empowerment, so by including higher education in these discussions, we increase the likelihood that our region will sustain the quality of life we want everyone to share."

The Long Island Regional Council, which is comprised of a diverse group of 30 area leaders from the private and public sectors, labor, chambers of commerce, higher education, and community-based organizations, is working to create a five year strategic plan for economic development in Nassau and Suffolk counties.

Created by Governor Cuomo, the Regional Economic Development Councils represent a fundamental shift in the state's approach to economic development—from a top-down development model to a community-based approach that emphasizes regions' unique assets, harnesses local expertise, and empowers each region to set plans and priorities.

The Long Island Regional Economic Development Council is one of ten regional councils across New York that will serve as a single point of contact for economic activity in the region.  Through their strategic planning process, the Councils will identify and expedite priority projects that demonstrate the greatest potential for job growth. As part of the initiative, up to $1 billion in state resources will be accessible to eligible economic development projects through existing program grants and tax credits.

Each Regional Council will develop a plan for the development of their region, which will provide a regional vision for economic development, address critical issues and opportunities, and lay out an implementation roadmap for future growth. The state will work with the Regional Councils to align state resources and policies, eliminate unnecessary barriers to growth and prosperity, and streamline the delivery of government services and programs to help the Regional Councils carry out their plans for development.