Albany, – December 14, 2011 – (RealEstateRama)
$194 Million Plan Will Create More Than 6,000 jobs
Governor Andrew M. Cuomo today travelled to Stony Brook to sign the Stony Brook University 2020 challenge grant application that proposes a $194 million plan to help revitalize Long Island’s economy by building a first-class medical research building at the Stony Brook campus.
Under the proposal, the university will be able to support Stony Brook’s plan to build a new translational medical research building; hire additional faculty and staff; and, launch economic development partnerships with industry in the Long Island region.
“This is a win-win for Long Island’s economy and students,” Governor Cuomo said. “With NYSUNY 2020, we will further elevate Stony Brook as a leading research institution nationally and create thousands of jobs at the same time. We are also incentivizing public/private partnerships in cutting edge cancer research that will benefit both Long Island and the New York as a whole. I am proud of the investment we are making in Long Island’s future and I applaud Long Island’s elected officials and the Chancellor for partnering with us to make this project happen.”
The Stony Brook plan will create more than 6,000 new jobs in Long Island, including:
Nearly 1,000 new jobs through partnerships with private industries
More than 1,000 new jobs through research grants
4,200 construction jobs to build the new medical center
In addition to renovating the medical university, all of Stony Brook University will see added benefits from the Stony Brook 2020 plan such as reduced class size, increased admittance and access to advanced courses, and the ability to hire at least 250 new faculty and 80 medical professionals, as well as several hundred students and staff over the next five years.
Programming for the translational medical research building (MART) will focus on cutting edge cancer research, advanced medical imaging, and cancer care. The 250,000-square-foot facility would be located on the Stony Brook University Medical Center campus where scientists and physicians would work side by side to research and discover new treatments and technology which would be brought to market more efficiently and quickly. It will also increase the availability of in and outpatient cancer care for Long Islanders.
Senate Majority Leader Dean G. Skelos said, “Congratulations to Senator LaValle, Senator Flanagan, Senator Zeldin and all the embers of the Long Island delegation for the role they played in making NYSUNY 2020 a reality here at Stony Brook. I applaud Governor Cuomo for his leadership and for partnering with Chancellor Zimpher, President Stanley and others on a project that will allow us to leverage the outstanding education and research taking place at this institution to create thousands of jobs on Long Island. I also commend Jim Simons for his tremendous generosity and commitment to Stony Brook.”
Assembly Speaker Sheldon Silver said, “The Assembly Majority has a long standing commitment to increasing access to quality education and supporting opportunities for job growth. The Stony Brook 2020 plan will launch economic revitalization resulting in increased financial aid for higher education, enhanced access to health care services and much needed job creation. This plan will result in smaller class sizes while increasing admissions for an additional 1,500 students. It will create 6,000 jobs for educators and medical professionals as well as those in the construction trades. I want to thank Governor Andrew Cuomo, SUNY Chancellor Nancy Zimpher and Stony Brook University President Dr. Samuel Stanley for this vision and leadership. This investment in Stony Brook is an investment in our community and will make Long Island a center for cancer care and medical research.”
Senator Lee M. Zeldin said, “Governor Cuomo’s NYSUNY 2020 grant approval today is extraordinary news for Stony Brook students, faculty and families. Stony Brook University is one of our biggest assets on Long Island and serves as a critical economic generator for the region. The University’s ambitious proposal will advance medical and cancer research, increase student admission rates and undergraduate courses, and create more than 6,000 much needed jobs, while maintaining an affordable tuition for low-income families. I commend the Governor for his dedication to SUNY and look forward to working with him and Senators Ken LaValle and John Flanagan, the chairmen of the Senate’s Higher Education and Education Committees, to continue to help schooling on Long Island and New York State move forward.”
Assemblyman Steve Englebright said, “Governor Cuomo’s approval today of Stony Brook University’s proposal to the NYSUNY 2020 Challenge Grant Program further proves his commitment to investing in Long Island. This plan will allow the University to provide more New Yorkers and out-of-state students with an exceptional and affordable education as well as create thousands of news jobs. This type of public-private partnership will be powerful for the local economy, and I am gratified to have worked with the Governor and Chancellor to create this innovative program.”
SUNY Chancellor Nancy Zimpher said, “Governor Cuomo challenged the SUNY university centers to help their communities overcome some of their greatest obstacles, and Stony Brook has risen to this challenge by putting forth a dynamic plan that maintains affordability, increases access, launches community partnerships, and builds a medical research facility that will expand the university’s research portfolio and create thousands of jobs,” said SUNY Chancellor Nancy L. Zimpher. “Jim and Marilyn Simons’ gift to the Stony Brook campus will enhance the university’s plan and we are immensely grateful for their generosity. This is truly a proud day for Stony Brook University, for SUNY, and for all of New York State.”
President of Stony Brook University Dr. Samuel L. Stanley said, “Today is a transformational day at Stony Brook University which has every reason to celebrate. We are grateful to Governor Cuomo and Chancellor Zimpher for their leadership and for their approval of Stony Brook’s NYSUNY2020 Challenge Grant application. It will be pivotal in helping us achieve our potential for excellence. At the same time we have the opportunity to announce the largest gift in the history of SUNY from Jim and Marilyn Simons. Their immense generosity in making this unprecedented investment in Stony Brook will, in combination with the approval of our NYSUNY 202 plan, help Stony Brook to a place among the top public research universities in the world.”
The Stony Brook 2020 program is part of the NYSUNY 2020 Challenge Grant Program that the Governor signed in August. The law helps New York’s public universities become a leading catalyst for regionally-focused economic development while maintaining affordability and improving academic quality for all students.
The Stony Brook 2020 program is part of the NYSUNY 2020 Challenge Grant Program that the Governor signed in August. The law helps New York’s public universities become a leading catalyst for regionally-focused economic development while maintaining affordability and improving academic quality for all students.
The NYSUNY 2020 Challenge Grant Program – a joint program between the Governor and SUNY – incentivizes bottom-up, individualized, long-term economic development plans on SUNY campuses and the surrounding communities. The new rational tuition program replaces decades of unpredictable and sudden tuition hikes, allowing students and parents to better plan for college expenses.
The new law enacted a rational tuition plan that allows each SUNY and CUNY campus to raise tuition by $300 per year for five years, replacing an era of sudden tuition increases with a system that is predictable and empowers students and parents to plan for college expenses. For the past 20 years, the average annual SUNY tuition increase has been 6.7 percent, exceeding the five-year, $300 increases included in this legislation. During that time, there were periods without tuition increases followed by sudden and dramatic tuition spikes of up to 40 percent. Such spikes and uncertainty in tuition is detrimental to students, families, and the university system. The NYSUNY 2020 legislation prevents these types of unpredictable tuition hikes from reoccurring.
The law will maintain affordability by establishing tuition credits, which will require SUNY and CUNY to apply a credit against the tuition charged to a student. The amount of the applicable tuition credit will be based on the level of a student’s tuition assistance program (TAP) award. In addition, Stony Brook will also offer additional merit scholarships under their NYSUNY 2020 plan.
University Centers at Albany, Binghamton, Buffalo and Stony Brook, after the approval of their Challenge Grant Applications, will additionally be able to implement a rational “plus” tuition plan by including an additional three percent increase (based upon a $75 fee and an up to 10 percent tuition increase for out-of-state students) annually for five years. As a condition of approval, the University Centers are required to include other financial aid plans to qualify for the rational “plus” program.
The act authorizes $80 million in capital funding for the four University Centers that will be granted subject to the approval of the NYSUNY 2020 applications. Combined with the additional $60 million in existing SUNY funds, the total Challenge Grant Program investment totals $140 million. The law additionally requires strong conflict of interest policies and MWBE goals for implementation of the program.
Contact:
Governor’s Press Office
NYC Press Office: 212.681.4640
Albany Press Office: 518.474.8418
press.office (at) exec.ny (dot) gov
