Le Moyne Technology Project Receives $2 million in REDC Grant
An innovative high-tech project that will utilize the resources of the Madden School of Business at Le Moyne, as well as the College’s science faculty, was among the recipients of funding from the Regional Economic Development Council (REDC). Le Moyne was awarded $2 million in REDC funds as part of the $93.8 million that was received by the Central New York region. The award was announced by Gov. Andrew Cuomo in Albany on Wednesday, Dec. 19.
The funding will help with the renovation of Mitchell Hall, which will house the Madden School (currently in the midst of a $15 million capital campaign), and the Coyne Science Center, being renovated as part of a $45 million investment in science facilities at Le Moyne. It will assist the College in embedding the high-technology firm Blue Highway into both facilities. Blue Highway is involved in technology designed to spur cutting-edge innovation, product development and incubation, and, ultimately, high-tech manufacturing of products in the medical field. Blue Highway was established in 2008 under the auspices of the Welch Allyn, the Skaneateles-based manufacturer of medical products and devices.
posted on: 12/19/2012
“Le Moyne is honored that this innovative, job-creating project has been selected to receive REDC funding,” said Le Moyne President Fred Pestello. “The establishment of Blue Highway at Le Moyne will allow them to collaborate with our faculty and students as they provide critical assessment of products before they move to clinical trials.”
In addition to tapping into the College’s science expertise to help with research and product development, Blue Highway will also have direct access to the business analytics program within the Madden School of Business. This assistance would help Blue Highway in a number of ways, including translating research into commercial products by providing methodical exploration of data that could drive decision making. Also playing a role in the process will be the Madden School’s Center for the Study of Global Business Practices and Center for Entrepreneurship, Creativity and Innovation, which will assist the firm in translating research into viable commercial products and developing business and marketing plans.
“The partnership between the College and Blue Highway is one with immeasurable potential and opportunities,” said Le Moyne Provost Linda LeMura. “Capitalizing on the considerable expertise of our faculty in both the sciences and business will yield tremendous benefits for Blue Highway. We have already had a number of our undergraduate students intern at Blue Highway over this past summer, and that relationship will continue to grow once they have a presence on our campus.”
Established in 2011 by Gov. Cuomo, there are 10 designated REDCs representing regions across the state as part of what he terms a “new operating model for New York state government.” The goal of the program is to increase employment and business activity while improving the quality of life across the state. Each council will incorporate broad public participation in developing a five-year strategic plan for its respective region. Councils applied for resources through the NYS Consolidated Funding Application, and will develop performance metrics, identify obstacles to growth, and monitor progress.
President Pestello is a member of the Central New York REDC and is the co-chair of its Public Participation committee.