Investments in research take a while to pay dividends.
So says Dr. Karin Pavese, director of innovation at the New York Academy of Sciences.
At a biotechnology symposium in Syracuse Tuesday, Pavese told attendees there's great growth potential in state-backed research. But since the fruits of those investments often take many years to bloom, Pavese says politicians are often hesitant to pony up key funding.
One job created in the innovation work force - like a research position - creates three additional jobs, according to Pavese.
But standing in the way is something called the "valley of death."
New York's senators say they have three new pieces of legislation that will reduce unemployment among recent veterans.
At a joint press conference Monday outside Syracuse University's Institute for Veterans and Military Families, Senators Kirsten Gillibrand (D-NY) and Charles Schumer (D-NY) unveiled the three bills, which Gillibrand says have bipartisan support.
The education and healthcare sectors - or "eds and meds" - provide potential for upstate New York's economy - as long as the region can translate research activity into job creation.
That was the message from William Dudley, president of the Federal Reserve Bank of New York. Dudley was in Syracuse Thursday for a series of speeches. He also sat down with the Innovation Trail.
"The educational establishment is world-class," Dudley said. "And the amount of innovation that those institutions are driving is substantial. But not much of that innovation actually leads to jobs in the region."
Ken Simonson is on a road trip to lobby for an increase in government investment in infrastructure projects.
Tuesday morning he stood in front of equipment at Milton Caterpillar in Syracuse and said “It’s great to see all this magnificent construction equipment, but it would be even better to see it in action.”
Simonson is the chief economists for the Associated General Contractors of America (AGC), a trade group. He highlighted Syracuse as one of four metro areas that have struggled more than most to regain jobs in constructions.