New York to Bolster High-Tech Initiatives

New York Gov. George Pataki gave high tech a shot in the arm recently by signing into law "J2K," a $522 million economic development program that benefits technology research and capital investment in business growth.

"In order to remain competitive with the world and continue to create record numbers of jobs here in New York, it is critical that we invest in high-tech business development," Pataki said in a news release.

New York's 1999-2000 state budget includes $156.5 million for high-tech academic research; $280 million in venture capital funds to invest in emerging businesses; $34 million to retrain employees to operate high-tech equipment; and $51.5 million for infrastructure improvements to supply water to accommodate business growth.

The newly created Office of Science, Technology and Academic Research will administer the academic end, developing policies to encourage research and economic development at colleges and universities. The group will find ways that the state can share in royalties and licensing fees generated from the development of new technologies.

The group will use $7.5 million for a faculty development program to attract researchers to New York and will use $95 million to build state-of-the-art laboratories.

About the Author

Connect with the FCW staff on Twitter @FCWnow.

Featured

  • Management
    shutterstock image By enzozo; photo ID: 319763930

    Where does the TMF Board go from here?

    With a $1 billion cash infusion, relaxed repayment guidelines and a surge in proposals from federal agencies, questions have been raised about whether the board overseeing the Technology Modernization Fund has been scaled to cope with its newfound popularity.

  • IT Modernization
    shutterstock image By enzozo; photo ID: 319763930

    OMB provides key guidance for TMF proposals amid surge in submissions

    Deputy Federal CIO Maria Roat details what makes for a winning Technology Modernization Fund proposal as agencies continue to submit major IT projects for potential funding.

Stay Connected