SYRACUSE, N.Y. -- New York's junior U.S. Senator says the federal government should step in to help provide some funding that would help new companies move promising high tech products from the research to the production phase.
Senator Kirsten Gillibrand toured Syracuse's Center of Excellence, which is home to a variety of research efforts in new energy efficient products.
Gillibrand's idea is to create a $200 million fund that would provide financing that is difficult to win from banks or venture capital firms to help bring products to the market and help create new companies and jobs.
Gillibrand said, “Government doesn't create jobs. People do. Ideas do. Innovation does. And that's what happens here. So all I can do is either provide resources or cut taxes. Make it easier for these entrepreneurs to create the jobs.”
Gillibrand says she's hoping the legislation can pass during the lame duck session of Congress after this year's elections.
The senator is running for re-election against Republican challenger Wendy Long next month.