Apparently, the second time's a charm. New York State won $700 million in the second round of the federal Race to the Top competition. Our Erin Connolly was there as Governor Paterson welcomed U.S. Secretary of Education Arne Duncan to Albany.

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ALBANY, N.Y. -- U.S. Secretary of Education Arne Duncan makes a celebratory visit to the state Capitol, praising New York's efforts in education. Last week, New York was among nine states to win funding in the federal Race to the Top contest, securing nearly $700 million.

"To be very clear, this isn't a gift," said Duncan. "This is something New York earned. This is an investment of scarce taxpayer dollars and your collective ability to dramatically improve student achievement over time."

State leaders and education officials had to agree to some pretty big reforms in order to win the grant. That included raising the cap on charter schools from 200 to 460, and agreeing to start using student test scores in teacher evaluations.

NYSUT President Dick Ianuzzi said, "Every child in New York State and this country deserves a highly effective teacher standing in front of them. That was the goal of this application for Race to the Top. That is the goal that all of the work we've been doing is about, and that's where we are heading forward.''

New York is also expected to use the money to focus on improving low performing schools and better preparing students for college.

Governor David Paterson said, "We are aware that the most important job anyone can have in this country is in any way preparing today's youth to the difficult and competitiveness atmosphere that they will face tomorrow."

After speaking at the Capitol, Duncan headed to the New York State United Teachers headquarters to talk with teachers and administrators about Race to the Top.

Duncan said, "The fact you're doing it together makes it less scary, and the fact there's a critical mass and not just these island pockets, that's how we're going to change, break through and get over this tipping point."

Now that the state has the money needed for change, only time will tell if that money produces results.

NYS Education Commissioner David Steiner said, "This is not a two-minute drill. It's a four-year opportunity to change the lives of three million students.''