Governor Cuomo specifically mentioned the founding of a Photonics industry hub in Rochester during his first State of the State address in New York City, promising another round of $750 million in Regional Economic Development funding for Rochester and other Upstate cities.
At his second address of the day in Buffalo, Governor Cuomo said that will include a $10 million, multi-year Photonics Venture Challenge in Rochester. It will support start-up companies that aim to commercialize new photonic technology with $1 million awards.
The governor says the economic cycle has turned, and corporations that left the U.S. for cheap labor have learned “you get what you pay for” and are coming home. Cuomo says he’ll fight to get those companies back in New York State. But he also said we have to keep fighting for new jobs, because most of the jobs lost by working people were to automation, not emigration. He says we need to bring home the jobs that technology generates to replace those it takes.
Cuomo says that’s also why he’s proposing tuition free college at SUNY and Community Colleges in this session of the legislature, so the educated workforce will be ready.
The governor is also proposing to double the middle class child tax credit for New York families.
Senate Majority Leader, Republican John Flanagan has questioned the regional economic councils and says the legislature needs more oversight over what they’re doing.