Cuomo is investing in state’s strengths
With respect to Doug Turner’s recent opinion column, we want to offer a different perspective on Gov. Andrew Cuomo’s efforts to turn around New York State, especially with regard to economic development.
Under Cuomo’s leadership, New York has become the epicenter of innovation and commercialization, particularly evident as the world leader in nanotechnology. Instead of chasing “silver bullet” solutions, Cuomo’s strategy is to invest in the state’s core strengths, including regional assets, and in our unmatched network of academic institutions, promoting public-private partnerships. The wisdom of this approach is that state investments remain in the public realm, while attracting billions in private-sector investment, and creating thousands of high-paying jobs.
A good example of this is the Global 450 Consortium, an alliance of the five leading global semiconductor companies that chose to develop future generations of computer chip technology here in New York. Based at the College of Nanoscale Science and Engineering in Albany, research and manufacturing innovations are occurring at facilities across the state. New York secured this $4.4 billion investment in competition with Europe and Asia not by investing in the companies themselves, but rather by investing in the public technology infrastructure. The same blueprint will apply to the recently announced Albany Molecular Research deal as we leverage the considerable assets on the Buffalo Niagara Medical Campus into private-sector investment and jobs.
The Regional Economic Development Council process and the Buffalo Billion strategy embrace a decentralized, strategic and collaborative approach to economic development. We are unabashedly optimistic about the governor’s new approach to economic development, and believe it’s the best example of the new New York … Open for Business.
Alain E. Kaloyeros
Senior Vice President and CEO,
College of Nanoscale Science
Co-Chair, WNY Regional Council
for Economic Development