The Cornell University Board of Trustees approved the university’s long-term financial planning and 2019-20 budget parameters this weekend. The plans include investments in key academic priorities; student socio-economic diversity; faculty and staff salary programs and graduate student stipends; and financial aid.

The board will formally approve the anticipated $2 billion operating budget for the Ithaca campus for fiscal year 2019-20 at its May meeting.
The financial parameters draw upon Cornell’s 10-year plan, begun last year, to continually strengthen the university’s financial standing over the long term. The plan includes investments in financial aid and the university’s buildings and facilities, controlling tuition rate increases, and a gradual reduction in the university’s draw from its endowment.

In recent weeks, it has become increasingly clear to legislators in Albany that the Amazon.com project in New York City could be in jeopardy. Legislators say it is time to talk about relocating the proposed second Amazon Headquarters perfectly between Rochester and Syracuse, NY. Both cities have world-class colleges and universities, providing a rich pool of potential employees to support the Amazon campus.

"There is huge potential in Upstate for Amazon! NYC's loss could be Upstates gain and a real win for Amazon," said Senator Pam Helming (R-C-I, Canandaigua). "Our region has an abundance of affordable, shovel ready sites. We have highly skilled local workers who could fill the 25,000 plus positions and a regional workforce development program to support Amazon. The Finger Lakes region offers easy, convenient access to major transportation routes and international airports. Our area includes world-class medical institutions, superior public education, and affordable housing opportunities. The sorts of incentives NYC offered Amazon would not even be needed because upstate is significantly more affordable than New York City. Our unmatched quality of life and beautiful environment draw visitors from across the world and would certainly help Amazon in their efforts to attract top talent."

Governor Andrew M. Cuomo announced Tuesday that the $45.9 million Innovate NY venture capital fund has been fully invested. Since the fund's launch in 2012, 81 companies have received more than $370 million in investment capital, leading to the creation or retention of 2,250 jobs. A majority of investments were made in companies located upstate. The Innovate NY fund is managed by New York Ventures, the venture capital investment arm of Empire State Development, and supports the state's entrepreneurial culture of new and innovative startups.

"New York's strategic investments in the next generation of innovative startup companies have fostered growth in our thriving tech industry while supporting thousands of jobs across the state," Cuomo said. "This administration has already made great strides to support these seed-stage businesses, and we look forward to seeing these companies continue to make significant contributions to our economy and help build a brighter future for New York."