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State funding left on the table as Long Island firms submit few applications

Jun 11, 2026, 11:00 AM10
(Update: Jun 11, 2026, 11:00 AM)
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State funding left on the table as Long Island firms submit few applications

  • Only a dozen eligible applications from Long Island firms were submitted last year for the business aid competition.
  • A workshop will be held on June 18 to inform potential applicants about grant opportunities.
  • Local leaders are concerned about the low number of applications and are working to increase awareness of available funding.
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In New York State, only a dozen eligible applications from Long Island businesses were submitted last year for a significant business aid competition that offers up to $60 million in funding. This low number of applications has prompted local business leaders and the Long Island Regional Economic Development Council to take action to increase participation ahead of the upcoming July 31 deadline for submissions. A workshop is scheduled for June 18 at Farmingdale State College to inform potential applicants about the grant opportunities available to them. The council aims to engage with various business groups to raise awareness and encourage new projects this year. Historically, Long Island has seen an average of 25 eligible applications each year since 2021 for the Empire State Development's Grant Funds program, which is now known as the Regional Council Capital Funds program. However, last year's submissions were notably low, marking the second-fewest applications since the competition began in 2011. The highest number of applications received was 54 in 2021, indicating a concerning trend in participation. Local business leaders, including Stacey Sikes, acting president and CEO of the Long Island Association, expressed their worries about the decline in applications, emphasizing the importance of utilizing available state funding to support regional growth. The ESD grants are a crucial part of the state's economic development strategy, with over $380 million set to be distributed through the 2026 competition from various state agencies. The Long Island council has also secured $30 million for a proposed manufacturing center aimed at helping entrepreneurs develop prototype products and seek investment. This initiative is part of a broader effort to enhance economic development in the region and ensure that funding is effectively utilized to foster growth and innovation. As the July deadline approaches, the Long Island Regional Economic Development Council is committed to increasing awareness of the grant opportunities available to local businesses. The upcoming workshop is a key component of this effort, as it will provide potential applicants with the necessary information and resources to navigate the application process. The council's proactive approach reflects a determination to reverse the trend of declining applications and ensure that state funding is not left unclaimed, ultimately benefiting the Long Island economy.

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