On December 14, 2000, NYS Senate Majority Leader Joseph L. Bruno announced the formation of GEN*NY*SIS (Generating Employment Through New York Science), a new plan to use $500 million in government and private investment to lure new life science industries to the State and make New York a leader in creating biotechnology jobs. The plan builds on Governor Pataki's leadership in encouraging the growth of high-tech industry by providing a total of $225 million in State grants to match Federal, industry, and academic funding. GEN*NY*SIS also provides targeted tax incentives to new companies launched by rapid advances in life sciences, genomics, and genetics, and seeks to build new ties between the high-tech industry and New York's world-class universities and research institutions. GNYHA applauded the announcement. "GEN*NY*SIS will help ensure that New York State continues to be a world leader in biomedical research and state-of-the-art patient care in our teaching hospitals," said GNYHA President Kenneth E. Raske. "It will also bring tremendous economic benefit to New York State and help recruit the world's most promising young investigators to our area."