<p>For what its worth, this is an excerpt from the Governor's State of the State Address delivered today:</p>
<p>HIGHER EDUCATION</p>
<p>While these proposals have put us on the path toward excellence in our primary and secondary schools, we have not yet set our colleges and universities on the same course.</p>
<p>If you want to participate in the innovation economy, a high school diploma is not always enough youre going to need a college diploma, or better yet, an advanced degree. We cant strengthen our economy without the best colleges producing the best-prepared graduates. Thats why our goal must be to make an outstanding higher education affordable for every New Yorker.</p>
<p>Last year, I convened a Commission on Higher Education to recommend what we need to do to make Americas largest public system of higher education one of its very best. Last month, they spoke. Today, you and I need to begin acting on their recommendations.</p>
<p>Over the next five years, we must hire 2,000 new full-time faculty members for SUNY and CUNY, including 250 eminent scholars the type of professors whose research draws grants and collaboration from around the globe, and whose stature lifts entire campuses.</p>
<p>We must create an Innovation Fund for cutting-edge research at New Yorks public and private colleges, similar to the National Science Foundation, and the National Institutes of Health. Supercharging cutting-edge academic research will also supercharge our innovation economy.</p>
<p>We must invest in our community colleges, which train New Yorkers for high-skilled jobs and serve as the gateway to four-year colleges. For the community college students who want to continue their education by transferring to four-year SUNY and CUNY schools, we will make the process simple and seamless, and give them full credit for the academic courses they have successfully completed.</p>
<p>Made wisely, these investments in higher education will also revitalize cities. We will move forward on the University of Buffalos 2020 expansion as a centerpiece of our strategy to reinvigorate the economy of Western New York. When completed, the Universitys total student population will grow from 29,000 to almost 41,000. Over 7,000 students, faculty and staff will work and study on a new downtown campus for medicine and health sciences. UB will become an economic engine for Buffalo, and a flagship institution for a world class public university system.</p>
<p>We will create a flagship at the other end our state, as well. We will help bring together the University at Stony Brook, and the world renowned Brookhaven and Cold Spring Harbor laboratories. The result will be a peerless cross-disciplinary research engine in the areas of cancer, neurobiology, plant genetics and bioinformatics. The economic benefit for Long Island will be tremendous. The chance for New York to lead the world will be unparalleled.</p>
<p>ENDOWING HIGHER EDUCATION</p>
<p>But none of this is possible unless we figure out a way to pay for it. And to do that, we need a new funding source. The finest private and public colleges and universities in America use the funds from permanent endowments to achieve excellence. If we are to join their ranks, we must do so as well. Higher education funding should no longer be a budgetary pawn or a yearly battle. It must be a permanent priority.</p>
<p>Given the investments we must make and the sheer size of our higher education system, this endowment initially should be at least $4 billion, which would generate $200 million in operating funds each year.</p>
<p>Wheres the money going to come from? We should unlock some of the value of the New York State Lottery, either by taking in private investment or looking at other financing alternatives. As we do this, we will assure that the State continues to regulate all lottery games, and that we continue to receive the more than $2 billion annually for K to 12 education that the lottery now provides. Todays endowment dollars will be a down payment on tomorrows dreams.</p>
<p>This is our plan for education. Funding our primary and secondary schools in a fair and effective way, using accountability to measure progress and identify where improvement is needed, and creating an endowment for our State universities to propel them into international centers of research and learning, and into engines of economic growth.</p>