Two professors at Farmingdale State College’s School of Business have been awarded a $261,600 Sea Grant from the National Oceanic and Atmospheric Administration, to run from January 2015 through November 2016. The grant money will be used to help improve Long Island’s coastal economy while seeking to preserve its heritage.
The grant was obtained by Dr. Richard Vogel, dean of the School of Business and an economics professor, and Dr. Nanda Viswanathan, assistant dean. The purpose of the NOAA Sea Grant is to enhance the practical use and conservation of coastal and marine resources in order to create a sustainable economy.
“We will provide insight into the future development and relationships of the recreational, tourism and fishing sectors on Long Island,” said Dr. Viswanathan, professor of marketing and also chair of the Departments of Business and Global Business Management. “We will utilize quantitative and qualitative research to assess the economic impact of businesses in coastal communities.”
Among the goals of the project are to do an analysis of the current economic infrastructure and identifying critical segments such as conducting a census of the commercial and sport fishing industries, marinas, beach and coastal tourism infrastructure (hotels and restaurants); and surveys of current recreational users. Dr. Vogel and Dr. Viswanathan will also benchmark and evaluate Long Island’s performance against similar coastal economies in the Northeast, including Cape Cod, the Jersey shore and the Delaware coast. They will do economic modeling, and provide a set of strategic policy options available to integrate and diversify Long Island’s coastal industry.