New York Thrusts toward Renewable Energy with Matching Grants Program
NY Governor Introduces ‘Innovation Economy Matching Grants’ Program for Statewide Sustainability-
Governor David Paterson of New York recently announced a string of new innovative programs for the State, which will work to center New York as a national leader in green energy efficiency. Bold Steps to a New Economy: A Jobs Plan for the People of New York utilizes federal stimulus dollars to impel economic recovery in energy modernization and technology, as well as environmental protection and healthcare research. Part of the plan, Innovation Economy Matching Grants, will contribute a 10 percent total match for each federal stimulus dollar allocated through competitive grants used for research facilities statewide. New York State will apportion $100 million over many years under this program which is projected to reach $1 billion in federal research funding. The agenda will help procure future federal grants and independent investments by assuring that new research centers are erected throughout the State. “When I took office, I knew an economic crisis was coming. I knew it wouldn’t be enough to respond with just a few tweaks. Instead, we responded to this crisis with dramatic emergency measures which are now largely in place and which have begun to lead us down a path towards recovery… Now, it is time to take bold new steps to prepare New York to lead the New Economy. We need to start by creating a fertile environment for entrepreneurship, and building a new infrastructure for innovation which means lowering the cost of doing business and building up our knowledge base,” said Governor Paterson.
Under the agenda, grid technology will be restructured by occupying federal stimulus cash up to 50 percent of projected costs to integrate smarter grid information technology. Governor Paterson requested today that the Public Service Commission review and approve the State’s utility proposals for smart grid utilization and matching funds before the deadline of July 29th. The NY Governor has also urged the Public Service Commission to release $100 million from the Renewable Portfolio Standard program by the end of the summer to ensure companies will be prepared to compete for federal stimulus funding in near-future renewable energy endeavors. As well as smarter grid incorporation and renewable energy funding measures, a life science improvement team will be formed so that venture capitalists, medical schools, academic health centers and research institution partners can work together in advancing and modernizing health care products. Thanks to Governor Paterson’s uncompromising direction, the state has initiated the Empire State Stem Cell Fund, which has already supplied $118 million to support vital stem cell research in relevant New York organizations. “The time for bold thinking is now. This is the time for encouraging businesses that are thriving and for investing in the industries that hold promise for the future. Through coordination among our innovation-promoting state agencies and the new programs we announced today, we will put our greatest resources to work for the people of New York,” Governor Paterson said.
The progressive state governor has also expressed a goal for universal high speed broadband access to all residents throughout New York. The objective is to control existing state-owned and privately-held property, develop state acquisition practices, promote public/private affiliations to maximize use of services offered over the internet for citizens and create jobs through modern population-based digital knowledge and technology training programs to increase household technology expertise. By facilitating the growth of these industries, Governor Paterson is working to guarantee that quality green energy jobs are created in New York and assuring that the innovation economy leads way to higher paying jobs. The typical salary of a person who works in the innovation economy is over double that of an individual working outside the innovation market. New York State has ranked second in the nation in the number of fastest-growing industry jobs and the state’s innovation economy is projected to produce a “multiplier effect”; meaning that every one job created in the innovation economy will sprout 3.5 jobs created overall. “At this critical moment in New York’s history, it is our responsibility to act, and to act with the interests of future generations in mind. We are a state rich with resources, the most impressive of which is our human capital… A new economy is emerging: an economy based on knowledge, technology and innovation. Our state has led the world’s economy for the past hundred years, and we are poised to lead for the next hundred. We have the brightest minds, the best universities, the most dynamic companies, and a thriving tradition of innovation and entrepreneurship,” the governor affirmed. With straightforward leadership and the utmost dedication to New York’s residents and environment, Governor Paterson has given the State an invaluable contribution that will help promote growth and provide a solid foundation for years to come.