Area tech companies, colleges praise proposed Endless Frontier Act $100B bill

Area tech companies and colleges are rallying behind a plan to increase investment in Hudson Valley technology hubs. 

Sen. Chuck Schumer this week announced the Endless Frontier Act, which would invest $100 billion into the discovery, creation and commercialization of new technologies. Local colleges and tech companies such as IBM, Marist College and SUNY New Paltz expressed support for the bill, which Schumer says would "create new jobs and jumpstart local economies.

"The coronavirus pandemic has shown the science and technology gap between the United States and the rest of the world is closing fast and that threatens our long-term health, economic competitiveness, and national security," Schumer said. "As an established and expanding national technological hub, the Hudson Valley will greatly benefit from federal support to secure its place as a leader of advanced scientific and technological research on the world stage." 

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Schumer's bill proposed an expansion of the National Science Foundation to be renamed the National Science and Technology Foundation. The plan includes a $100 billion investment over five years into investment and research in artificial intelligence and machine learning; high performance computing; robotics; automation and advanced manufacturing; quantum computing; cybersecurity; biotechnology; and semiconductors. 

President and CEO of Hudson Valley Economic Development Corporation Michael Oates said the investment will be critical as the region begins its reopening. 

"Senator Schumer's innovative Endless Frontier Act provides much-needed capital to support regional workforce education and training, scientific research, entrepreneurship, technology transfer, and more," Oates said. "These investments will give our Hudson Valley universities and businesses the tools needed to put our region on the map as a global leader for tech-related jobs as we emerge from this pandemic." 

Marist President Dennis Murray called the proposed legislation "precisely the kind of initiative our nation needs at this point in our history," noting it "recognizes that strategic investments in key technologies are essential to maintaining our country’s leadership position, and addressing the fundamental challenges that face us — prosperity and growth, competitiveness, climate issues, national defense, and improving the quality of life for all"

Katelyn Cordero: kcordero@poughkeepsiejournal.com; 845-437-4870; Twitter: @KatelynCordero.