07.10.08

Schumer Announces Key Senate Panel Approves $300,000 For The Watervliet Innovation Center

Funding Would Promote Job Growth and Economic Development by Assisting Small Businesses in Navigating State and Federal Homeland Security Markets Schumer Fought Hard to Include Funding In FY2009 Spending Bill Bill will now be sent to the Senate Floor

U.S. Senator Charles E. Schumer today announced that the full Senate Appropriations Committee has approved the Financial Services FY09 Appropriations Bill which includes $300,000 for the Center for Economic Growth's Watervliet Innovation Center.   The funding would be used to promote job growth and economic development by assisting small businesses in navigating state and federal homeland security markets to get New York's emerging technologies into the hands of endusers. The bill will now proceed to the Senate Floor as the critical next step in the appropriations process.  Schumer worked closely with members of the Appropriations Committee to include funding for the project in this year's spending bill.

 

"This is terrific news for the continued rebirth of the Watervliet Arsenal," said Schumer.  "The Watervliet Innovation Center has the potential to tremendously improve small, emerging technology businesses throughout the entire state, as well as ensure that the topnotch technology being developed right here in Upstate gets the bang for the buck it deserves, bringing millions of dollars, highlyskilled, wellpaid jobs, and an immeasurable amount of economic prowess to the Capital Region."

 

This funding is part of Schumer's ongoing efforts to enhance job development at the Watervliet Arsenal. The Center for Economic Growth's Watervliet Innovation Center promotes job growth and economic development by assisting small businesses in navigating state and federal homeland security markets to get New York's emerging technologies into the hands of endusers. The Innovation Center will use this funding to provide facilities to house the small businesses, technology commercialization support to define a viable path to bringing the technologies to market and business acceleration consulting to ensure the ongoing sustainability and growth of these enterprises.

 

Now that the bill has been approved by the full Senate Appropriations Committee, it will be sent to the Senate floor. Following approval by the Senate, the bill will move towards Conference with the House and then to the President for signature.

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