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New York invests $5 million in technology with a new Tech Training Fund

Why it matters to you

The tech industry seems to be taking over the job market, and New York is looking to equip residents with the skills they need with a new $5 million fund.

Silicon Alley is looking to compete, and a new Tech Training Fund just may help. New York is investing in technology to the tune of $5 million, as Governor Andrew Cuomo announced the establishment of a Tech Training Fund. The goal is to “equip New Yorkers for 21st century tech jobs across the state.” The first fund of its kind, the new initiative will award up to $5 million to tech training providers seeking to educate New Yorkers for various jobs in the tech industry.

The process allowing for RFPs (request for proposals) will begin next week, and next month, a new Tech Workforce Task Force will also convene for the first time in order to modernize grade school and college curricula in order to educate our progeny and meet the needs of the tech sector.

“The New York Tech Training Fund and Tech Workforce Task Force will engage industry and academic leaders to help prepare New Yorkers for jobs in the ever-growing tech field and guarantee that New York remains at the forefront of the innovation economy,” Governor Cuomo said in a statement. “The strength of our economy depends on the strength of our workers, and by ensuring that our workforce is equipped with the skills and opportunities to succeed, we are building a stronger, more prosperous state for generations to come.”

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With hopes of supporting innovative technology training and education solutions across New York, the Training Fund has $5 million to distribute as it sees fit to eligible training providers.

“New York’s innovation economy is bigger and better than ever before, with cutting-edge companies looking to New York State as the place to grow their business,” said Empire State Development CEO & Commissioner Howard Zemsky. “This sector is booming because of our investments in STEM education and workforce development, which provide New Yorkers with the tools and skills they need to enter the ever-evolving tech industry.”

Recognizing that education, however, is key to this entry process, New York is looking to equip its residents with knowledge above all else. As New York State Department of Labor Commissioner Roberta Reardon commented, “The jobs of the future demand a prepared and qualified workforce.”

And as for Cuomo’s newly established workforce Task Force, these experts (who hail from the tech industry, academia, and the state government) will focus on K-12 Education, Higher Education, Workforce, and Economic Development, and will meet quarterly to define and promulgate a curriculum that prepares New Yorkers for the jobs they want.