University at Albany

Questions and Answers - Economic Development

Economic Development

The Act


Off-Budget Provisions

Lease and Public/Private Partnership Provisions

Procurement Provisions

Economic Development

The University has cast this as being about economic development...isn’t SUNY an educational institution?

A. Apart from being employers in their own right, educational institutions do more than just educate.  They produce the next generation of leaders, business owners, entrepreneurs and skilled workers.  Through research and development, colleges and universities create the framework for driving new technology and building new companies.  Just look at the Nanotechnology facility at the University at Albany.  

How can SUNY create jobs?

A.   SUNY, with 64 campuses across NYS, is the lynchpin for New Yorkers to educate, retrain and retool for today’s innovation and knowledge economy.  This Act means job growth in faculty and staff, infrastructure as well as skilled labor jobs through tech transfer, company incubation and capital construction.

Where will the job growth come from?

A reinvestment of revenue in our campuses would allow more faculty lines to be filled.  New faculty would need new lab space, staff and capital equipment, all of which generate both direct and indirect employment.   Additionally, public-private partnerships will result in more projects and facilities being built  that not only employ construction workers but also require permanent employees to run and work in the facility.  We have committed that all of these jobs will be supportive of collective bargaining principles

How does SUNY impact local economies?

A. SUNY is the largest employer in many communities across New York State with over 87,000 employees and their families living and contributing to the regions surrounding the campuses.
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