A “New Economy” for Scientific Innovation

Gov. David Paterson announced a new multiyear program to support science-based innovation in the Empire State.

Published June 12, 2009

By Adrienne J. Burke

New York Governor David Paterson chose The New York Academy of Sciences as a backdrop for his announcement of a new multiyear program to support science-based innovation in the state.

Paterson said the state will commit up to $100 million to the “Innovation Economy Matching Grants” program, one of several initiatives he offered under the general theme of spurring development of a “new economy” in New York. The Governor said the state also will provide 10 cents in matching funds for every federal stimulus dollar awarded to New York research facilities.

Paterson cited clean energy as the industry likely to be the biggest beneficiary of the “new economy” effort. What is clear, he said, is that the state can no longer rely on manufacturing and the financial industry as the engines that once supported much of its economic base.

A New Economy

“A new economy is emerging,” Paterson said. “It is knowledge-based, it is tech-based and it is based on innovation.”

Academy President Ellis Rubinstein introduced Paterson. Rubinstein said he was “delighted” Paterson chose to make his announcement at the Academy.

“We are thrilled to work with the Governor and the Governor’s team to connect the best of global science and technology to our State institutions and to enrich the economies not just of New York City but also Upstate New York and Eastern Long Island.”

Also read: A Science State of Mind in the Empire State and Celebrating New York as a World Science Center