Updated 02/05/2011 08:23 AM
Nanotechnology gets full funding in Cuomo budget, amid cuts
Governor Cuomo pitched an austere budget proposal Tuesday for New York. While it calls for major cuts to parts of education and health care, the Governor's budget reveals his support for the state's continued investment in technology. Steve Ference explains.
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CAPITAL REGION, N.Y. -- While most critics have focused on the Governor's proposed budget cuts to close the estimated $10 billion deficit. Others, focusing on the "growth" part of the plan.
"Governor Cuomo had a very powerful and simple message. If you want to grow the economy. If you want to reduce taxes, New York to be competitive, it's about jobs, jobs, jobs," said UAlbany College of Nanoscale Science and Engineering Senior Vice President and CEO Dr. Alain Kaloyeros.
He believes if Cuomo gets his way, the continued financial support is not only good news for companies already invested in the area. It's a message to others too.
Dr. Kaloyeros said, "The economy of the 21st century, there is only one way to grow it. That's innovation. And innovation requires investment."
The price tag includes two funds for the Institute for Nanoelectronics Discovery and Exploration in Albany at $980,000 and $750,000 each. $870,000 for a Nanoelectronics Center, the same amount for Smart System Technology Center in Canandaigua, $3 million for Focus Center New York, nearly $700,000 for the Center for Advanced Interconnect Science and Technology and about a million bucks for an advanced nanomaterials tech center. $8 to $10 million in total investment.
"You're in a day and age now where New York State's budget gets as much attention outside New York, internationally as it probably gets in New York," said Dr. Kaloyeros.
Kaloyeros argues state spending is necessary to compete against countries with billions to invest. He says state money is a down payment, leading to matching private and federal investment to the tune of nearly $180 million.
"There's also a number of competitors who were hoping that New York would walk away from these investments who were calling, e-mailing, teasing. Said we thought we got rid of you guys," said Kaloyeros.
Perspective ahead of the state budget, due April 1st.