GOVERNOR SIGNS NY-SUNY 2020 CHALLENGE GRANT LEGISLATION
Legislation to Spur Investments in SUNY Expansion & Job Creation
Senator Carl L. Marcellino today congratulated Governor Cuomo on the signing of legislation to establish the NY-SUNY 2020 Challenge Grant program that includes capital funds for investments in economic expansion and job creation at the four SUNY University Centers, as well as a predictable and rational plan for SUNY tuition that will allow students and families to plan for tuition costs.
"As we continue our ongoing efforts to build on our resources to keep quality careers, we need our outstanding Universities to lead the way. This ongoing commitment is an affirmation of the pro-economic initiatives that Governor Cuomo has time and again moved forward. Retaining jobs is vital to our continued economic growth and SUNY 2020 will help us attain that goal" said Senator Carl L. Marcellino.
The mission of the program is to make SUNY a leading catalyst for job growth throughout the state, strengthen the academic programs of the University Centers and demonstrate that New York is open for business. The funding will be integrated with the Governor's Regional Economic Development Councils and administered by ESDC. The approach will leverage private sector and other source funding to further the goals of job creation and economic development.
The NY SUNY 2020 Challenge Grant Program will initially consist of $35 million in capital funding per school ($20 million administered by Empire State Development Corporation and $15 million from SUNY's construction fund) for the four SUNY University Centers.