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Empire State Development ESD's mission is to spur economic development by helping businesses to thrive. It does this by helping them identify creative solutions to problems, generate growth opportunities, and achieve short- and long-term goals. On a practical level, this means the agency provides small, medium and large businesses with technical and financial assistance, such as low-interest financing, skills training and global market development. Long Island Development Corp. Long Island Development Corp. is a not-for-profit corporation that helps stabilize and grow the economy by providing small businesses with financial and technical assistance. This means that LIDC makes loans for capital expansions, including the acquisition, rehabilitation, expansion and improvement of property. Companies can also use LIDC financing for working capital or to purchase equipment. The Long Island Targeted Industry Fund is available for businesses in strong regional industries such as high-end electronics, software development and biomedicine. Even fishing, still a mainstay of the Long Island economy, qualifies. LIDC's Procurement Technical Assistance Program helps local businesses navigate the process of finding, bidding and winning government contracts. U.S. Department of Commerce/International Trade Administration The ITA's mission is to help U.S. companies export their products and/or services. The agency does this by providing companies with practical information in selecting markets and products, and by providing companies with access to international markets. ITA also works for government policies that protect U.S. companies from unfair competition. At the Export Assistance Center small and medium-sized businesses get export counseling and information on trade financing through the U.S. Small Business Administration and Export-Import Bank. Periodic trade missions run by export professionals bring U.S. companies to foreign countries to arrange for exports. U.S. Small Business Administration The SBA provides small companies with financial, technical and managerial assistance in starting, running and growing a business. The SBA guarantees loans made through participating banks. Small Business Development Center Small Business Development Center Small Business Development Centers offer existing small companies -- as well as those in the planning and start-up phases -- with management assistance. This includes counseling, training and technical assistance in such areas as financing, marketing, production, organization, engineering, technical problems and feasibility studies. Special areas of assistance include international trade assistance, procurement assistance, venture capital information and rural development. Stony Brook University Office of Economic Development Long Island’s only major research university, Stony Brook, offers a full “cradle to Fortune 500” suite of economic development programs, from faculty R&D collaborations and advanced technology assistance through its SPIR (Strategic Partnership for Industrial Resurgence) program and its two New York State Centers for Advanced Technology in medical biotechnology and sensor systems to the licensing of new technologies invented by its researchers and the nurturing of new technology enterprises in its three incubators to business management assistance through its New York State Small Business Development Center and workforce training for managers and Service Corps of Retired Executives SCORE operates approximately 10 locations on Long Island. Retired executives volunteer their time to counsel and mentor current and fledgling business owners. They can help with everything from writing a business plan to setting up an employee pension plan. Their services are free. Long Island Power Authority Economic Development LIPA does more than power up Long Island. The utility also spurs economic expansion by attracting new businesses, partnering in business expansion projects, and retaining existing businesses by providing businesses with export assistance; financial, training and tax incentives; electric rate options and incentives; energy efficiency rebates and consultations; relocation assistance; and technology-related R&D funding for energy projects. Community Development Corp. of Long Island The CDCLI helps individuals, families, small businesses and neighborhoods build and retain wealth and assets through various business assistance and education programs. CDCLI also administers small-business loans and financial assistance programs for individuals seeking to purchase a home or secure affordable rental housing. Keyspan Energy Delivery KeySpan serves Long Island and New York City by delivering natural gas and generating electric power for homes and businesses. Through its Cinderella Program, KeySpan spurs the revitalization of neighborhoods by providing grants for the restoration of homes, buildings and storefronts. Long Island projects have included the Northport Theater and the lighting of Freeport's "Nautical Mile." Long Island Partnership The Long Island Partnership is a group of economic development agencies that together provide marketing and collateral materials, advertisements, trade shows and other programs designed to spur economic development and business growth. |
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