NYAS Hosts NY Governor for "New Economy" Announcement

David Paterson described a new multiyear program to support science-based innovation in the state.

Published June 12, 2009

NYAS Hosts NY Governor for  "New Economy" Announcement

New York Gov. David Paterson chose the Academy 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. Paterson 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 is emerging,” Paterson said. “It is knowledge-based, it is tech-based and it is based on innovation.”

John Sexton, Governor Patterson, Ellis Rubinstein

NYAS Board Chair John Sexton (left) confers with Gov. Paterson and NYAS President Ellis Rubinstein (right) during Paterson's "new economy" announcement at the Academy

NYAS President Ellis Rubinstein, in introducing Paterson, agreed, saying 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.”