Governor Kathy Hochul announced Tuesday, the Long Island Investment Fund has awarded $10 million to The Feinstein Institutes for Medical Research to construct 40,000 square feet of new state-of-the-art labs to support medical and infectious disease research.
The $10 million is part of the overall $350 million of the Long Island Investment Fund's grant money. The grant complements an additional $30 million in State support previously awarded to the Feinstein Institutes to modernize 20,000 square feet of its Institute of Bioelectronic Medicine, according to a press release from Governor Hochul's office.
Included as part of Governor Hochul's FY 2023 Enacted Budget, the Long Island Investment Fund focuses on projects that will support and grow the regional economy, enhance communities, and have lasting economic impacts across Long Island. The Fund's $10 million award to the Feinstein Institutes for Medical Research will support the renovation and construction of 26 new state-of-the-art research labs on two floors as well as the hiring of 10 new principal investigators and 60 research employees, the release states.