New York State Department of Financial Services

10/24/2025 | Press release | Distributed by Public on 10/24/2025 11:24

Governor Hochul Announces $49 Million Investment to Strengthen New York’s Private, Not-for-Profit Colleges and Universities

Education
October 24, 2025
Albany, NY

Governor Hochul Announces $49 Million Investment to Strengthen New York's Private, Not-for-Profit Colleges and Universities

Governor Hochul Announces $49 Million Investment to Strengthen New York's Private, Not-for-Profit Colleges and Universities

Grants Will Modernize Campuses, Enhance Student Experiences and Drive Statewide Economic Growth

Full List of Awardees Available Here

Governor Kathy Hochul today announced $49 million in capital grants for 35 colleges and universities across New York State through the Higher Education Capital Matching Grant Program (HECap). The funding supports projects that will upgrade facilities, create modern laboratory and research spaces, and invest in cutting-edge instructional technology and equipment - ensuring that New York's higher education institutions remain at the forefront of innovation and opportunity.

"New York's independent colleges and universities are engines of innovation that prepare our students for success and strengthen communities in every region of the state," Governor Hochul said. "By investing in modern classrooms, laboratories and facilities, we're ensuring that students have access to the tools and environments they need to thrive. These projects stand for our ongoing commitment to keeping New York at the forefront of education and economic opportunity."

Under the Governor's leadership, HECap grants continue to enable campuses statewide to make critical investments in their infrastructure and equipment while creating construction jobs and supporting regional economic development. Campuses that receive HECap grants are required to invest at least $3 of their own funds for every $1 in state funds received.

When combined with the colleges' matching funds, more than $195 million will be invested in New York's higher education communities through this round of awards.

Selected Award Amounts Include:

  • Clarkson University: Phase One Renovations to the Engineering and Science Complex, $5 million
  • Hobart and William Smith Colleges: Construction of a New Science Building and adjacent science facilities, $5 million
  • D'Youville: Renovations to a building to support The College of Osteopathic Medicine, $5 million
  • Molloy University: Construction of the Center for Workforce Development in Applied Laboratory Sciences, $5 million
  • Marist University: Construction of New Athletic Fields and Track, $2.8 million
  • Russell Sage College: Renovations to Russell Sage Hall, $2.7 million
  • St. John's University: Renovations to Marillac Hall to create a Technology Hub, $1.85 million
  • Cornell University: Library Renovations, $1.75 million
  • Long Island University: Construction of a Lab for Immersive and Experiential Learning, $1.5 million

The funds were awarded at the October 20 meeting of the HECap Board following a competitive application process. The three-member HECap Board includes one member chosen by the Speaker of the Assembly, one member chosen by the Temporary President of the Senate, and a third member chosen by the Governor. DASNY acts as staff to the HECap Board and administers the program. The HECapBoard also approved the release of the Round 8 Request for Applications, which will open on December 12, 2025.

A request for grant applications for the next competitive round was also approved at the meeting. Since its inception in 2005, the State of New York has awarded $369.8 million in funding to 318 projects through HECap, resulting in more than $1.48 billion in total investments in higher education capital improvements statewide.

Dormitory Authority of the State of New York (DASNY) President and CEO Robert J. Rodriguez said, "DASNY is proud to support the HECap program, which delivers real results for students and communities across New York. These projects not only modernize campus infrastructure, but also create pathways for research, workforce development, and innovation that strengthen our state's economy for years to come."

State Senator Toby Ann Stavisky said, "It is vital for students to learn in spaces that reflect the world they're preparing to enter. These construction projects will modernize classrooms and labs, expand hands-on learning, and strengthen the pipeline between our colleges and New York's workforce. Investing in these facilities is about preparing the next generation to lead, innovate, and give back to their communities. I thank Governor Hochul for her continued commitment to higher education and for recognizing that investing in campus infrastructure is an investment in New York's future."

Assemblymember Alicia L. Hyndman said, "When we invest in higher education, we invest in New York's future. The HECap program strengthens our independent colleges and universities, helping make higher education more accessible for working families while expanding opportunities for students to pursue in-demand careers. This investment not only supports our campuses but also drives economic growth and uplifts communities across the state. I applaud Governor Hochul for her leadership and continued commitment to ensuring all New Yorkers have access to quality, affordable education."

Commission on Independent Colleges and Universities President Lola Brabham said, "The HECap program is a vital partnership that helps New York's independent colleges and universities remain competitive, innovative, and accessible to students from every background. Governor Hochul's continued investment through this program strengthens our campuses, creates jobs, and expands opportunities for students statewide. We are grateful to the Governor, the Legislature, and DASNY for their ongoing commitment to advancing higher education and fueling New York's economic growth."

More information on the HECap program can be found here, and the full list of grant awards is available on the DASNY website.

Contact the Governor's Press Office

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Albany: (518) 474-8418
New York City: (212) 681-4640

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New York State Department of Financial Services published this content on October 24, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on October 24, 2025 at 17:24 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]