Paterson’s Latest Idea: A High-Tech Economy

ALBANY—The governor’s office just released this new economic development plan, which David Paterson unveiled with much fanfare in a speech to the New York Academy of Sciences today.

The plan proposes investing in emerging technology to help diversify the state’s economy, providing loans to students, working toward breakthroughs in stem cell and nanotechnology research ($650 million for stem cell research over the next decade), providing a state match for some federal grants and modernizing the state’s power grid.

“If Thomas Edison were to look at our electronic grid, he would say, you know, ‘Probably not much has changed,'” Paterson said, calling the current grid “antiquated” and “obsolete.”

“We will now be the pioneers for the revolution in how we create, how we store, and how we transmit electric current,” he said.

Politically, this speech gives Paterson a chance to continue to build both a a clean-energy theme and an economic-development theme in advance of his 2010 election. In recent weeks, he announced a new research facility for sodium batteries in Niskayuna. Before that, he introduced an ambitious goal during his State of the State address to have 45 percent of all energy produced in the state be from alternative sources by 2015. In some sense, he has been pushing this agenda since he became governor.

As he attempts to reassert himself, Paterson has been reaching out to just about every constituency he possibly can.

David Paterson Economic Development Plan David Paterson Economic Development Plan JimmyVielkind

David Paterson Economic Development Plan

Paterson’s Latest Idea: A High-Tech Economy