McDonough wins NYSEDC’s rising star award

Albany, NY The New York State Economic Development Council (NYSEDC) has selected Matthew McDonough, Esq., CRE, as the 2025 James W. Griffin Rising Star. McDonough is recognized for his leadership with the town of Babylon IDA and his work at McDonough PLLC.

McDonough has been instrumental in revitalizing community assets, including transforming a vacant property into the Argyle Theatre. He is the architect behind the town of Babylon’s Economic Inclusion Plan. This initiative has empowered more than 50 minority, veteran, and women-owned businesses with access to certification, capital, office space, and legal guidance.

He is a regular contributor to NYSEDC programming, including the IDA Academy and Annual Meeting, and is widely respected for his creative policy solutions in housing, adaptive reuse, and infill redevelopment. McDonoughs civic engagement includes pro bono legal support to the chamber of commerce, historical society, fire chiefs association, and Babylon Pride, where he also sponsors the town’s annual St. Patrick’s Day and Pride parades.

Matt’s leadership, innovation, and deep commitment to public service have made a lasting impact on our local economy and the broader Long Island community,” Babylon town supervisor Rich Schaffer said. “Whether advancing smart, strategic cannabis policy or guiding complex development initiatives through the industrial development agency, Matt has brought vision and results to every challenge. His work has helped create jobs, attract investment, and position Babylon for long-term growth — all while giving back through his dedication to civic life. This recognition is well deserved, and we are proud to have him as a key part of our team.”

I’m honored to receive the James W. Griffin Rising Star Award and grateful to be recognized alongside so many dedicated professionals working to strengthen our communities,” said McDonough. Economic development is about building lasting value — infrastructure, opportunity, and trust — and I look forward to continuing that work to build a stronger economy across our state.”

“Matt’s work has had a significant impact on the Babylon IDA and broader business community,” said Tom Dolan, CEO of the Babylon IDA. “His leadership, vision, and accomplishments make him a natural fit for this recognition. He’s guided complex projects, supported job growth, and attracted investment — not just in the town, but across Long Island. Even with all he’s accomplished, Matt has a promising future that will continue to benefit our regional economy and beyond.”

“Matt brings a rare combination of legal precision, community dedication, and strategic creativity to every initiative he leads,” said Ryan Silva, NYSEDC executive director. “His work in Babylon is a blueprint for how inclusive, community-based development can create meaningful change. He is one of the most thoughtful and forward-thinking rising leaders in our profession, and this award is well deserved.”

The NYSEDC James W. Griffin Rising Star Award honors an individual age 40 and under who has made a significant contribution to the economic development profession in New York. Consideration will be given to quality of service and impact on New York’s economy. This influence could be across the state or within an individual community. Nominees must be a member of NYSEDC.

Each of the following criteria must be addressed:

• Specific project involvement resulting in economic growth, including increased capital investment and employment for New York

• Involvement with NYSEDC

• Innovation in performing his or her job

• Community / volunteerism within the community at large

• Specific achievements that have had a direct positive impact on New York’s economy