NEW YORK (CBSNewYork) — An innovative new plan is proposed to help attract new businesses and young professionals to Long Island.

The Long Island Innovation Zone is a 5-year, $350 million, multifaceted proposal that would connect vibrant downtowns and research centers with rapid transit systems — ultimately attracting new industry and keep young professionals on Long Island, WCBS 880’s Mike Xirinachs reports.

“All of these projects are critical to stitching together the assets that we have in this region in order to create a thing, a real place that we can market around the country as an innovation hub,” said Suffolk County Executive Steve Bellone.

The I Zone, as it would be known, would help to reverse Long Island’s brain drain, said Bellone.

The plan is to pay for the project with federal, state and private funding on Long Island.

Bellone will making a pitch for his plan with the Long Island Association board of directors Wednesday.