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NY sees clean energy creating up to 50,000 jobs

NY sees clean energy creating up to 50,000 jobs(By Joan Gralla via Reuters)New York could create as many as 50,000 jobsby converting 45 percent of its

electricity needs to renewable energy sources by 2015, Governor David

Paterson said on Monday as he unveiled plans to reduce the state's reliance

on Wall Street.Paterson proposed modernizing the electricity grid, making broadband

technology available throughout the state and investing $600 million into

stem cell research over 10 years.New York ranks behind only California in stem cell research, thanks to $118

million of investments in the past three years or so, Paterson said in a

speech to the New York Academy of Science.The stem cell fund would have to win the legislature's approval before it

adjourns in about two weeks, as would some of other initiatives, said

Paterson. These include reform of Empire Zone tax credits, which critics

say failed to create jobs.Developing new batteries needed for solar and wind energy was one of

Paterson's major thrusts."Whoever learns to store energy in this country first will replenish their

economy for years to come," he said.Paterson also announced a matching grant program that will add 10 percent

to every stimulus dollar that state research centers get from the federal

government.Such grant-sweeteners have already won the state over 50 percent of federal

grants for advanced batteries, he said.New York's economy, which has relied on the financial sector to pay a fifth

of its taxes, has been hurt by losses on Wall Street. New York City is also

home to top teaching hospitals and state universities that Paterson hopes

will join with industry via a task force.A number of states, including New Jersey and Texas, are vying to lead stem

cell research, and others are also focusing on green energy.Though Paterson said energy is "probably the greatest job creator," he also

stressed improving education, saying that once the economy revives, he will

finish major investments begun a few years ago and increase college loans.Nanotechnology and agriculture were other promising fields, he said.Noting New York led the nation with canals, steamships, light bulbs, radio

and television broadcasts and power lines, the governor called on state

agencies to develop "smart grid programs," saying the current transmission

system was so outdated that inventor Thomas Alva Edison would see few

changes.He urged the Public Service Commission to release $100 million by summer's

end for "shovel-ready" renewable projects.For the latest renewable energy jobs in New York, across the U.S. and

globally please click here