2009 Research and Development Investment
Long Island’s funding from NYS increased last year but it was a smaller share of the overall available funds.
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Why is this important?
R&D (Research and Development) investment in Long Island’s universities, labs and private sector helps to drive regional innovation. R&D dollars support the development of technologies that create economic benefits for the regions in which they are developed and for the nation as a whole.
How are we doing?
New York State provides funds to firms through the NYSTAR program of the New York State Foundation for Science, Technology and Innovative Leadership. In 2006-07, Long Island firms received almost $10 million in NYSTAR funding. That represents an 88% increase in funding dollars from the prior year. However, that dollar amount was actually a smaller percentage of total state funding than in prior years. Between 2000 and 2006, Long Island averaged 12% of total state funding under the NYSTAR program. In 2007, the percentage fell to about 6%.