A business conference in Albany brought together the state's ten Regional Economic Development Councils. They're all competing for $200 million in funding and tax incentives.
Governor Cuomo announced a multi-billion dollar investment led by five international companies to develop the next generation computer chip technology right here in New York.
Cuomo says this will create and retain up to 6,900 jobs across the Empire State. He hopes this is a step in instilling confidence with consumers and citizens as well as keeping the younger generation here.
"I'm tired of watching young people get on planes and thinking they have to find a future somewhere else when their future is right here in New York," said Cuomo.
Out of this investment alone, it will create 450 new jobs in Utica over the next five years. Former President Bill Clinton also addressed business leaders.
He says New York's asset is the multiple higher education opportunities. Yet, he says as college enrollment increase, the graduation rate drops due to the economy. He says this is crucial.
"There needs to be an aggressive effort to stop this dropout rate. This is killing us. We cannot revive the economy and cannot maximize the impact of this amazing $4 billion commitment if we don't turn out the minds to do the job," said Clinton.
The Mohawk Valley Regional Economic Development Council attended the event.
They say after hearing Cuomo and President Clinton speak, it will bring the region confidence.
"It helps reinforce there are things going on in New York that can really be a lot better than they have been....We're going to really start to see the real jobs hitting in the next several months. That was a great announcement," said Larry Gilroy, the co-chair of MVREDC.
The Mohawk Regional Economic Development Council also says they are very confident about their economic plan and they hope they can win