CALVERTON, N.Y., September 28, 2004—Stony Brook University President Shirley Strum Kenny today joined with State Senator Kenneth P. LaValle and Riverhead Town Supervisor Philip Cardinale to announce the official opening of the Calverton Incubator in the Town of Riverhead. The ribbon-cutting ceremony marks the end of a decade of hard work and determination and a new partnership for the University. The University will manage the facility, which is designed to attract industries that are in keeping with East End economies including agriculture, aquaculture, and environmental technologies.
According to President Kenny, business incubators promote entrepreneurship, create a new base of industries, and enhance the survival and growth rate of new businesses. The Calverton Incubator was made possible through the efforts of Senator LaValle, who secured nearly $4 million in state funding for the construction of the facility. The Incubator is the third of its kind for Stony Brook University, which presently boasts the on-campus Long Island High Tech and Software Incubators.
“The incubator will reflect the traditional strengths of the East End of Long Island to promote the extraordinary new technologies developing in agriculture, aquaculture, and the environment,” said President Kenny.
“The Calverton Incubator is truly a dream become reality,” said Senator LaValle. “The opening of this facility marks the beginning of an exciting partnership between the Town of Riverhead and Stony Brook University. I have no doubt that the Calverton site will be the economic engine for the East End of Long Island. The Incubator will jump start that process and be the driving force behind the future development of advanced technologies and the creation of new high-paying jobs.”
The Calverton facility includes offices, conference rooms, and laboratories with both fresh and salt-water access, and will house the satellite office of the Small Business Development Center at Stony Brook. The Incubator will support entrepreneurial companies by providing access to resources and strategies for a period of 3-5 years in an effort to foster the research and development of products and/or services for introduction into the marketplace. Stony Brook University’s Tenant Selection Committee will evaluate and consider businesses seeking tenancy at the Incubator. Currently, three companies—an aquaculture company, a pharmacy consulting company, and a software computer systems company—have been approved for tenancy.
The Town of Riverhead and surrounding East End communities offer numerous state and local business incentives that would encourage businesses graduating from the Incubator to remain here and create new jobs for our region. The property and infrastructure at Enterprise Park at Calverton (EPCAL) are appealing and conducive to doing business. A portion of the Park is also a designated Empire Zone, which allows for energy breaks, wage tax credits, real property tax credits, sales tax exemptions, and investment tax credits for qualifying businesses.
“The Town of Riverhead is pleased to partner with the State of New York in creating new economic development opportunities at EPCAL,” said Riverhead Town Supervisor Cardinale. “The Calverton Incubator allows the redevelopment of this site to move forward in a positive direction by attracting high tech businesses and good paying jobs to our Town.”
