Venture Capital Financing
Long Island firms receive relatively little venture capital. Investment has declined since 2011.
Federal Small Business Innovation Research Technology Transfer Awards to Long Island
Small technology companies on Long Island remain competitive in attracting federal funding under the SBIR/STTR programs, which directly supports the private sector in the development and commercialization of innovative and early-stage technologies with significant potential for financial, economic and societal impact.
Sharp rise in reliance on food stamps begins to level off.
Poverty rates increase dramatically.
Long Island Railroad added 1.6 million passengers in 2013, while bus ridership declined in BOTH Nassau and Suffolk.
Poorer communities have significantly higher rates of preventable hospitalizations for a series of illnesses.
Known sites of environmental contamination are located in 136 Long Island communities.
After a slight decline between 2006 and 2007, College Readiness has been essentially flat. Through 2013, there is a sizable gap in the performance between high and low poverty schools.
Teacher Education and Turnover
Long Island teachers tend to surpass New York State with greater educational preparedness. Turnover rates on Long Island were higher than NYS during the post-recession years, but returned to the State level in 2013.
Academic Performance: 4th Grade & 8th Grade
Overall Long Island schools’ 4th Grade English Language Arts performance results exceed New York State. The gap between low-poverty and high-poverty schools, narrowed until 2009, but has since increased. 8th Grade Math results continue to exceed New York State. Performance for high-poverty schools improved until 2009. Dramatic declines were seen in 2013.
English Language Learners
Students with Limited English Proficiency are disproportionately taught in high-poverty districts.
Race and Ethnicity
The racial and ethnic composition of Long Island schools is also noteworthy as Long Island remains one of the most residentially segregated areas of the United States.
While overall poverty levels on Long Island are lower than NYS as a whole, poverty in Long Schools is increasing.
Housing prices have increased, with the average single-family home selling for $378,500, while the average household income held steady at $90,800.
Long Island’s Changing Population
Why is this important? The level of population growth is a fundamental benchmark of how attractive Long Island is as a place to live. New residents require more housing and services, but can also add to the vibrancy of growing communities, increase sales for local businesses and provide additional tax revenues. Growth in the working
Household Income Distribution
Median household income continue to decline at the middle and bottom while rising at the top.
Growth in Wages over the Past 10 Years
Long Island wages continue a slight downward trend, while converging with U.S. wages which have risen slightly since the recession. U.S. average pay is on a par with Long Island in first the quarter of 2014.
Gross Metropolitan Product
Long Island’s economy continues to show signs of growth since the recession. However, growth has lagged behind the U.S. GDP as a whole.
Employment declines continue in the aftermath of the recession in some sectors; others show signs of growth. The largest employment losses occurred in higher-paying sectors.
Long Island’s private sector employment remains below pre-recession levels.
Changes in retail space provide an insight to regional economic activity over time. Key indicators include vacancy rates, rental rates and net absorption rates which measures whether the current inventory level is shrinking or growing.
Local Government Expenditures
The growth in local government costs has slowed substantially since 2008.
It is virtually guaranteed that Long Island will not meet its goal to preserve 10% of the Island’s land mass as open space and farmland by 2016.
Long Island is experiencing a rapid rise in contaminants in our aquifer system and in our surface waters.