State To Invest $30M Into Center For Bioelectronic Medicine

New York State will invest $30 million into the Center for Bioelectronic Medicine at the Feinstein Institute for Medical Research in Manhasset as part of the state's $72 million investment to support three transformative, economic developments on Long Island, Gov. Andrew Cuomo announced Monday.

Center for Bioelectronic Medicine, the recipient of the funds, will be relocated to the Feinstein Institute. The center was originally planned for the Nassau Hub, but it was determined not to be the best location.

"The $30 million award announced today will permit Northwell Health to continue to grow the Feinstein Institute for Medical Research as one of the major national and international centers focused on bioelectronic medicine, which combines implanted computer technology with next-generation analytics to use the body's own neural pathways to fight and cure disease," Northwell Health President & CEO Michael J. Dowling said in a press release. "We're grateful to Governor Cuomo and state legislative leaders for their support and vision."

The state believes the Feinstein Institute, is where bioelectronic medicine is being pioneered and invented, will allow the center to grow and thrive.

The complex is expected to bring 56 new scientist jobs to the Center for Bioelectronic Medicine. Each job will have an average annual salary and benefits of $100,000. The center already has 40 employees.
The Center for Bioelectronic Medicine has already attracted significant outside investments, including from General Electric and United Therapeutics.

Additionally, the state reallocated $30 million to establish the Neuroscience Research Complex at Cold Spring Harbor Laboratory and $12 million will help build the College of Veterinary Medicine at LIU Post in Brookville.

"These investments will further strengthen Long Island's key economic assets and pave the way for its future prosperity," Cuomo said in a press release. "This funding will help enhance research capabilities, foster the creation of new jobs, and help build a stronger and more prosperous Long Island for decades to come."

Image via Northwell Health