Earlier today, Governor Kathy Hochul appeared on Bloomberg TV with Caroline Hyde to discuss New York’s role in innovation, the state’s approach to energy policy, and efforts to attract talent.
During the interview, Governor Hochul highlighted her administration’s investments in Empire AI and described how collaboration between academia, state government, and the private sector has advanced New York’s position in artificial intelligence. She said, “This has taken us to a whole new level. This was important to me. I’m a New Yorker, I’m competitive, I want to be number one. And so, we saw the great potential from friends that I’ve had in the industry. Tom Secunda and others brought an idea to me that we could have this incredible, first-in-the-nation partnership between academia, state government and the private sector.”
Governor Hochul explained that after discussions began in October 2023, she included Empire AI in her State of the State address three months later and secured $400 million from the Legislature for its development. She added that an additional $90 million was invested recently: “We now added another $90 million — we’re over almost $500 million invested, and it has exceeded all expectations.”
She also spoke about forming an Emerging Technologies Task Force co-chaired by the CEO of IBM and the CEO of Girls Who Code. The goal is workforce diversification and making New York attractive globally for technology talent: “I want to see more women, I want to see people of color, and that’s why New York is such an attractive place all across the world.”
Discussing energy policy as it relates to supporting AI growth in New York, Hochul emphasized a diversified approach: “I have an all-of-the-above approach…one of the reasons Empire AI is housed up at the University of Buffalo is that I have an enormous amount of supply of hydroelectric power from the Niagara plant there — that powers about 25 percent of our energy.” She noted nuclear power already provides another quarter of Upstate energy needs and expressed interest in expanding nuclear capacity.
When asked about wind energy projects facing setbacks under former President Trump’s administration, Hochul said she advocated directly for resuming operations: “I said that you have 1,500 people who just lost their jobs when you shut it down. This will power 500,000 homes of clean energy in Brooklyn…get them back going again,” adding they were successful in restarting work.
On regulation related to artificial intelligence safety—the RAISE Act—Hochul maintained her office does not comment on pending legislation but stressed ongoing efforts to protect children from risks associated with AI chatbots: “We have been leaders in protecting our children…making sure that when someone starts to talk about suicidal thoughts, that the platform will provide them resources and support.”
Addressing concerns over possible tax increases amid federal changes affecting business competitiveness, Hochul reaffirmed her stance against raising income taxes on high-net-worth individuals: “I’ve said I don’t want to raise income taxes on high-net-worth people. I want them to know that New York is a place where we want to foster innovation — be open to your success…” She cited Micron’s investment near Syracuse as an example of attracting major technology employers while requiring commitments on sustainability and local workforce development.
Regarding concerns among business leaders about future city leadership and potential tax policies proposed by mayoral candidate Zohran Mamdani or others advocating higher taxes for top earners, Hochul stated: “They need to know one thing…any tax increase has to come across my desk first. So I will work with whomever the mayor is as long as they want to help foster my policies…which is pro-growth, pro-business.”
The governor acknowledged affordability challenges but emphasized continued outreach toward keeping businesses in New York.
Asked if she would endorse Mamdani for mayor given his positions differ from hers philosophically regarding capitalism and governance realities in a global financial center like New York City, Hochul replied: “I am a staunch capitalist. And so, I need to know that people can have a certain philosophy, but you got to govern in reality.”
She expressed concern about potential impacts from federal immigration policy changes under Donald Trump on attracting international students vital for tech sector growth: “If those students stop coming…and there’s barriers…That’s something we have to overcome. And I’m really fearful about the long-term effect of that on our ability to remain competitive with the rest of the world…”
Finally addressing casino expansion as a possible revenue source for Manhattan or elsewhere statewide through gaming licenses approved via state process rather than gubernatorial preference alone: “I’m not allowed to have my thumb on the scale on that…but it will drive money. I think it’s going to be a real boost for tourism as well in the right place. So there’ll be three of them. And so, I’m looking forward very much to welcoming those dollars.”
The conversation concluded with Hyde thanking Governor Hochul for her insights into tourism promotion efforts alongside technology sector growth strategies.
