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 FOR RELEASE:

Immediately
September 21, 2009

 

State Comptroller Thomas P. DiNapoli’s Statement on
President Obama’s Strategy for American Innovation

President Obama’s strategy to turn around the economy focuses on innovation, entrepreneurship, education and developing alternative energy sources while making our existing resources work more efficiently. His commitment to that strategy is evidenced by his selection of Hudson Valley Community College as the setting for his remarks today. The College has become a regional center for innovative, high-tech educational programs.

In New York, the President’s plan has already benefited the state through the dozens of stimulus projects that are underway statewide, using New York contractors, employing New York residents and improving the state’s infrastructure.

A number of initiatives underway at the State Comptroller’s office fit into the President’s strategy. This month, my office launched a website, Your Money New York, to help New York’s taxpayers and consumers better manage and protect their money. The Web site provides helpful information on managing credit and debt, banking, and planning for higher education costs and retirement.

In addition, the pension fund invests in New York’s entrepreneurs and innovative products and ideas through the In-State Private Equity Investment program. Through this program, the pension fund also is actively investing in alternative energy resources, including a wind farm in Western New York and a biofuels manufacturer in Central New York.

One of the most important components of President Obama’s strategy calls for more openness in government. As State Comptroller, increased transparency is one of my highest priorities. To that end, my office created Open Book New York, a website that provides New Yorkers with access to the financial workings of government at the state and local levels including tracking stimulus contracts.

President Obama’s strategy is good for the country and good for New York. Going forward I will continue to look for ways my office can work toward achieving the President’s goals.

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