May 19, 2018
Albany, NY

Governor Cuomo Announces $72 Million Investment for Three Transformative Long Island Projects

TOP Governor Cuomo Announces $72 Million Investment...

$30 Million Investment Will Support Creation of Neuroscience Research Complex at Cold Spring Harbor Laboratory

$30 Million Allocated to Fund the Center for Bioelectronic Medicine at the Feinstein Institute

 

$12 Million to Build the First Veterinary College in the New York Metropolitan Area, Located at Long Island University

WYSIWYG

Governor Andrew M. Cuomo today announced a $72 million state investment to support three transformative, economic development projects that will create new jobs across Long Island. The state will invest $30 million to establish the Neuroscience Research Complex at Cold Spring Harbor Laboratory in Suffolk County. An additional $30 million will be reallocated for the Center for Bioelectronic Medicine at the Feinstein Institute for Medical Research in Manhasset, Nassau County. The Governor also announced a $12 million commitment to help build the College of Veterinary Medicine at LIU Post in Brookville, Nassau County.

 

"These investments will further strengthen Long Island's key economic assets and pave the way for its future prosperity," Governor Cuomo said. "This funding will help enhance research capabilities, foster the creation of new jobs, and help build a stronger and more prosperous Long Island for decades to come."

 

New York continues to support investments in the life science sector, which encompasses the fields of biotechnology, pharmaceuticals, biomedical technologies, and life systems technologies. The sector includes organizations and institutions that devote the majority of their efforts to the various stages of research, development, technology transfer and commercialization. These organizations are developing new medical and pharmaceutical breakthroughs that have the potential to save lives, whether through new therapies or the early detection of diseases like autism and cancer.

 

Neuroscience Research Complex at Cold Spring Harbor Laboratory

 

The Governor announced a $30 million investment to support the launch of Phase One on the campus of Cold Spring Harbor Laboratory. Phase One of this seven-acre development will house the Neuroscience Research Complex, which includes three state-of-the-art research buildings to further CSHL's leadership in the areas of neuroscience and computer science for the betterment of human health.

 

Scientists at the NRC will focus on cognition, including mapping the wiring diagram of the human brain. This game-changing CSHL technology will have a profound impact on both developmental neurological disorders like autism, and neurodegenerative diseases including Alzheimer's and Parkinson's. As neurological disorders affect approximately one-third of the U.S. population, and pharmaceutical firms are largely abandoning their research and development efforts in neuroscience, the work of academic research institutions is crucial in the effort to drive innovation and discovery in this field.

 

Investments in the NRC will generate regional economic growth on Long Island, create new jobs, and further the state's burgeoning biotechnology industries. CSHL will match New York State's $30 million investment utilizing federal and private funding sources. Once operational, the NRC will support approximately 55 jobs at CSHL, and another 50 jobs on Long Island.

 

Center for Bioelectronic Medicine at the Feinstein Institute

 

Governor Cuomo announced a $30 million reallocation to fund the Center for Bioelectronic Medicine and relocating the project to the Feinstein Institute for Medical Research, originally planned for the Nassau Hub. During Northwell Health's planning phase, they determined the Nassau Hub was not the best location for the CBEM due to the center's needs for specialized space, hospital proximity, and cooperative work environment for scientists and researchers across various medical disciplines.

 

The Feinstein Institute, the current location of the CBEM, is where bioelectronic medicine is being pioneered and invented. This location meets the specialized requirements that will allow the center to grow and thrive. CBEM has already attracted significant outside investments, including from General Electric and United Therapeutics. In addition to the 40 employees currently at CBEM, the new location will support an additional 56 new scientists, each with average annual salary and benefits of $100,000.

 

The Feinstein Institute will become the national and international center for bioelectronic medicine. Establishment of the CBEM and its partnerships with Cold Spring Harbor Laboratory and the Hofstra School of Medicine and Graduate School of Nursing, will help propel forward the Long Island Research Corridor. By attracting private sector investments and partners to efforts in groundbreaking scientific research they will expand the potential for more partnerships across the region.

 

Establishing a College of Veterinary Medicine at Long Island University

 

The Governor also announced the state will invest $12 million to support the establishment of the College of Veterinary Medicine at Long Island University in Brookville. The $40 million project will fill a void in the academic landscape, while generating new opportunities for medical research and jobs creation.

 

There are currently only 30 schools of veterinary medicine in the United States, and only three in the northeast - none in the New York metropolitan area. Despite this, New York has the highest concentration of working veterinarians. LIU intends to establish this new college in 2018 on the campus of LIU Post, and begin classes in September 2019. It is projected that the College of Veterinary Medicine will enroll 100 students each year into the four-year doctoral program, with a 97 percent retention rate. LIU has committed to add at least 100 staff positions.

 

Research and development are core functions at major veterinary schools across the United States. Similar in size to the planned LIU school, Purdue University's College of Veterinary Medicine generated a direct economic output of $220.2 million in 2014. LIU already has more than 20 memoranda of understanding and collaborations with well-known institutions, including The Bronx Zoo and North Shore Animal League.

 

Cold Spring Harbor Laboratory President Bruce Stillman said, "We are grateful for Governor Cuomo's leadership in enabling the launch of Cold Spring Harbor Laboratory's Neuroscience Research Complex. The NRC will bring to bear CSHL's game-changing technologies in neuroscience in order to develop novel therapies for brain related diseases such as autism and Alzheimer's disease. With neurological disorders affecting approximately one-third of the U.S. population, and pharmaceutical firms largely abandoning their R&D efforts in neuroscience, the work of academic research institutions such as CSHL is crucial in the effort to drive innovation and discovery in this field."

 

Northwell Health President & CEO Michael J. Dowling said, "The $30 million award announced today will permit Northwell Health to continue to grow the Feinstein Institute for Medical Research as one of the major national and international centers focused on bioelectronic medicine, which combines implanted computer technology with next-generation analytics to use the body's own neural pathways to fight and cure disease. We're grateful to Governor Cuomo and state legislative leaders for their support and vision."

 

Long Island University President Kimberly Cline said, "I want to thank Governor Cuomo for supporting the LIU College of Veterinary Medicine, which will have transformative impacts for our region and the nation. Investing in the nation's newest veterinary college and the first in the New York metropolitan area is a transformative event for Long Island University, for the region, and for animal health, which will create great New York jobs and research opportunities. We are grateful to all of our partners in government, the animal health community, and business community, for their support."

 

Empire State Development President, CEO & Commissioner Howard Zemskysaid, "Under Governor Cuomo's leadership, New York State continues to utilize strategic investments that create jobs and build the necessary infrastructure to encourage future development. These projects will affect real change on Long Island, supporting the emerging life sciences sector and generating economic growth."

 

Nassau County Executive Laura Curran said, "Governor Cuomo continues to prove his dedication to putting Long Island at the forefront of the 21st Century by funding transformative projects that will create jobs, drive growth and position Long Island as a leading location for economic development. We thank him for his foresight and unrivaled commitment to our region's prosperity and growth."

 

Long Island Association President and CEO Kevin Law said, "Long Island's future is bright thanks to the continued investments of Governor Cuomo, who recognizes the growth potential of 21st century industries that are flourishing right here in our region. By committing significant funding and support to advanced technology, sciences and R&D institutions, New York is laying the groundwork for new jobs and new economic development opportunities, while ensuring that Long Island continues to attract the best of the best to establish roots here and join our great community." 

 

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