Suny officials were at the Capitol in Albany today to lay out their 5-year 2020 plan to build and develop a $165 million Emerging Technologies and Entrepreneurship Complex: a 225-thousand square foot "emerging technology" Research and Development center - to be built on the west side of the UAlbany campus. Hudson Valley Bureau Chief Dave Lucas reports.
Governor Andrew Cuomo left no doubt: the "fast track" methodology that's at work on the Tappan Zee bridge project could be applied to "technology transfer" - Suny officials responded with a presentation clearly showing they ARE up to the challenge: specifically, the NYSUNY 2020 challenge grant program.
The E-TEC project is expected to have a positive impact on the local economy: 1587 new construction jobs and 735 permanent jobs. The UAlbany plan commits to the addition of more than 187 faculty researchers adding $117 million in cumulative research expenditures, and by investing in new faculty, UAlbany expects to increase enrollment by 1350 new students over the next five years.
University at Albany President George M. Philip Philip expects E-TEC to have a 1-point-8 Billion dollar cumulative economic impact, which is 50 times the investment of the NYSUNY 2020 Challenge Grant.
700 new courses of study will be initiated - the anticipation is E-TEC will improve graduation rates by 7 per cent. Officials say E-TEC will collaborate with the successful Nano college.
Eligible students will reap many benefits, including extra financial assistance and grants for those entering qualified programs. There will also be opportunities for E-TEC to engage in partnerships with private technology companies.
The Governor must now decide to grant UAlbany $35 million - plans for E-TEch going forward have work starting on the facility in 2013 - with a target completion date of 2017... Cuomo has already heard project pitches from three other SUNY research center campuses.
