NEW PALTZ - Representatives from the Movement to Reinvest in Education (MoRE), a coalition of student groups, faculty, and businesses, gathered on Monday, St. Patrick's Day, to support the creation of a state higher education endowment fund.

Displaying a "Pot O' Gold" to represent the additional $200 million the proposed endowment is expected to generate each year for higher education, the groups spoke about fulltime faculty shortages at SUNY and CUNY and the economic boost that long-term stable investment in higher education could provide.

NYPIRG at SUNY New Paltz is among the leaders of the local effort, said its coordinator Amanda Sisenstein.

“There is a proposal in the state to create an endowment for SUNY and CUNY for more full-time faculty, financial aid, accessibility to college, for greater and better research projects across the state, basically revamping the SUNY and CUNY system,” she said.

Business members of the coalition see an endowment as a way to strengthen the workforce, fund research that attracts new business and investment, and grow their local economies. They also see a very clear, direct benefit.

Many of the nation's top public and private universities have significant endowments that allow them to regularly improve and expand their academic, extracurricular and research opportunities. Early in the year the Spitzer administration proposed the creation of a $4 billion endowment for higher education in New York State.