In Response To Ongoing Job Loss, Gillibrand Launches Innovation Agenda To Spur Growth In High-Tech Industries, Create Good-Paying Jobs

Press Release

In response to ongoing job loss month after month, U.S. Senator Kirsten Gillibrand today is launching a new Innovation Agenda - a comprehensive plan that includes targeted investments in STEM (Science, Technology, Engineering, and Math) education, legislation to promote business incubators and regional economic development strategies, and an event next week in the nation's capital to showcase high tech companies and research institutions from every region of New York State. County by county analysis from the New York State Department of Labor suggests that strategic investments in research and development and STEM education will spur economic growth in the high-tech sector.

"No other state is poised to lead in the high-tech economy of the future like New York," Senator Gillibrand said. "Our state is home to the universities, businesses, laboratories, researchers and the bright minds we need for long-term economic strength. My Innovation Agenda harnesses all of our state's potential to spark new industries, attract businesses and create new jobs. We'll arm our classrooms with the math and science teachers we need to prepare all of our students for the jobs of the future, and we'll make sure every hardworking student has the opportunity to achieve their full potential, and become the innovative leaders that New York needs to compete and win in the global economy."

The Bureau of Labor Statistics projects that eight out of the nine fastest-growing occupations require science and technology skills. But less than one-third of American students are proficient in math and science, according to the National Assessment of Educational Progress. China and India are graduating five times more engineers than the U.S. - making these countries more competitive in the high-tech economy.

Before President Obama took office, the U.S. had been experiencing its first multi-year decline in federal investments in research and development in over 25 years. And our trade balance has shifted from a surplus in high-tech goods during the 1990s to a deficit of over $135 billion today.

Despite these stark national trends, New York remains a worldwide hub of technology and innovation. In fact, from 2004 to 2008, New York grew its high-tech industry by nearly 2,000 businesses and nearly $5 billion in increased wages.

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