What's New

Zack Hutchins
Director of Communications

October 25, 2001

Lawmakers approved investments in R&D, development

Governor Pataki and legislative leaders have approved $500 million in new initiatives, including new investments in high-tech R&D and nine new economic development zones.

To create new state revenues, lawmakers also expanded legal gambling by authorizing creation of six casinos, three each in the Catskills and the Buffalo-Niagara Falls region.

New York State will also join the multi-state Powerball lottery, and video-lottery terminals will be permitted at horse racing tracks.

The deal commits a total of $100 million to new economic initiatives, including:

The agreement also earmarks $400 million, half for not-for-profit groups and half for new aid to education.

As part of the deal, the state will spend approximately $115 million that is now in a state fund for repaying taxes on natural gas from out of state. A court had ruled that those taxes were illegally collected, but lawmakers passed a law to nullify the effects of the court ruling.