Stephen J. Friedman | PACE UNIVERSITY
The Journal News: Biotech center is a perfect match for colleges: View
The Journal News: Biotech center is a perfect match for colleges: View
Proposed center would help turn Westchester into a hub for biotech research and jobs, Pace president writes
Pace President Stephen J. Friedman wrote a Community View article for The Journal News on the proposed bioscience center in Westchester.
From the article:
"The Westchester BioScience and Technology Center is a bold and ambitious development proposal that is projected to bring more than 8,000 permanent jobs to Westchester County with 3 million square feet of medical and bio-tech laboratory, office and research space in the Town of Mount Pleasant. This exciting concept promises to deliver a wide range of benefits locally, regionally and statewide.
The prospect of this important new facility is especially good news for Pace University. Our fully-transformed Westchester campus, also in Mount Pleasant, is less than two miles away. With our extensive undergraduate and graduate health care, nursing and technology programs, there are natural synergies for our university. However, the benefits of the plan will benefit all institutions of higher education in the county by creating extensive opportunities for internships, training and permanent job opportunities for both students and graduates.
The BioScience and Technology Center proposed by Fareri Associates represents a once-in-a-generation opportunity for the county and the town. The explosive growth in medical research and development coupled with the expansion and increasing sophistication in health care services are two of the major drivers in the economy of today and tomorrow. Westchester is uniquely positioned to capitalize on these trends.
We need look no further than the rapid growth of Regeneron, which recently announced a major expansion plan for its headquarters that is only minutes away from the proposed Bioscience and Technology Center site. Regeneron has grown exponentially in Westchester to become one of the largest companies in the field in the state of New York and a national leader. Other biotech, bioscience and pharma firms from start-ups to well-established leaders in their fields also call the county home. In fact, Westchester has emerged as a regional hub for this economic sector. The proposed center would build on and greatly enhance this foundation.
The location for the Bioscience and Technology Center is literally in the center of Westchester. It includes 60 acres of vacant county-owned land and 20 acres of contiguous land owned by Fareri adjacent to the Westchester Medical Center complex in Valhalla. Access is excellent via Route 100, Route 9A and the Sprain Brook Parkway. The Metro-North Harlem Line has multiple stations nearby and the site is already served by numerous Bee-Line buses.
The project is led by John Fareri, who with his wife Brenda were the guiding forces in the creation and construction of the Maria Fareri Children’s Hospital next to the Medical Center. Fareri Associates has a deep understanding of construction and the real estate market. Fareri brings a unique vision for the site that he has honed over five years as a long-term lease made its way through the review process. He plans to invest some $40 million to create the infrastructure necessary to make the site viable for development. This includes an array of water, sewer, roadway and other improvements.
Last January, County Executive Rob Astorino submitted the proposed lease to the County Board of Legislators, which is currently evaluating the lease with the goal of voting on the lease later this fall. The lease has been designed to protect the taxpayers of Westchester by having the property — improvements included — revert to the county should the project not meet progress goals as detailed in the lease. That puts the burden of any risks on the shoulders of the private developer.
We have every confidence that the Board of Legislators recognizes the significance of this project and, following a careful and thorough review that is now underway, its members will conclude that this plan makes complete economic sense for the county and the region. Pace University looks forward to working with Fareri and all involved in seeing this critically important project for Westchester’s economic future come to fruition as soon as possible."
To view the full article on the website of The Journal News, with links to additional information and videos, click here.
Encore Careers Marry Money and Meaning
HR Magazine featured Pace's Encore Transition Program in an article on June 23 by Robert J. Groossman. The article profiles Pace President Stephen J. Friedman.
From HR Magazine:
After spending years advancing in their careers, many older employees debut in second acts that combine purpose with a paycheck.
When Gregg Broome lost his job as the top HR executive with a global insurance firm, he figured he’d find a new one without too much trouble. He’d been in high-level HR roles for almost 40 years, including 15 as director of compensation and international mobility at Goldman Sachs. But he was approaching his 60th birthday, and his attempts to network were unsuccessful. “I was not prepared for the incredible age bias,” he says. “There was so much supply with people like me that search firms were not being civil—not even returning phone calls.”
Reluctantly, Broome began exploring other options, including starting over with a job in a different field. Though financially secure, he wasn’t ready for retirement.
Broome didn’t realize it at the time, but he was confronting a situation that thousands of older workers—professional and blue-collar alike—are facing. Either by choice or necessity, they’re taking new paths, and some are choosing so-called encore careers, or second acts that combine continued income with the promise of meaningful work.
“They need the money and the meaning,” says Marc Freedman, CEO of Encore.org in San Francisco, and author of The Big Shift: Navigating the New Stage Beyond Midlife (PublicAffairs, 2012).
Freedman has been striving to match older, experienced workers with meaningful opportunities for more than 15 years. These individuals represent low-hanging fruit for nonprofit employers desperate for seasoned talent, he says. Freedman helped develop AARP’s Experience Corps, which matches retirees with volunteer opportunities, and then he created Encore.org, a think tank aimed at helping older workers find paid work in new areas, often in the nonprofit arena.
Although some employers have started to grasp the benefits of hiring experienced older employees for jobs at all levels, many others have not.
“The mismatch between [the number of] those who want to move into encore careers and the [number of] opportunities is kind of outrageous,” Freedman says. “Compounding the problem, so many are stuck, fumbling forward because the pathways are confusing and poorly marked.”
Broome was one of the lucky ones. When he dialed back his corporate job search and began looking for alternatives, he discovered a fellowship program that led to his second act at a nonprofit that helps financially vulnerable families.
Big Supply, Lagging Demand
Logical employers for encore careerists include more than 330,000 501(c)(3) public charities, many of which focus on the arts, education, health care and human services. Yet even with plenty of potential encore career candidates available—the youngest of the enormous Baby Boomer generation will turn 50 this year, and 8,000 of them reach 65 every day—many organizations either have not figured out how to leverage their talent or lack sufficient resources to acquire it.
“The big bottleneck is on the demand side,” says Michael Sabatino, managing director of financial planning and education at McGraw-Hill Federal Credit Union in East Windsor, N.J. “Nonprofits don’t really know what to do with these people.”
Most nonprofits are constrained financially and, as a result, become masters of multitasking and thus aren’t looking for as much specialized talent. HR coverage is a prime example. In a recent survey conducted by Nonprofit HR Solutions, a Washington, D.C., consulting company, only 12 percent of nonprofits had someone dedicated solely to HR.
Kim Wisckol, HR Director, Partners in School Innovation
First Act: Wisckol spent 22 years as an HR executive at Hewlett-Packard and at Accuray Inc., a radiation oncology company in Sunnyvale, Calif.
Second Act: Deciding she was ready for a change, she accepted a $25,000 fellowship through Encore.org with Partners in School Innovation, a 50-employee agency that helps to improve learning in underperforming schools in San Francisco. She was attracted by the flexibility of the assignment and the challenges of the work. Her expertise was readily transferable to the nonprofit environment. A month before her fellowship was set to end, she approached her bosses. “I know what you need from the HR world,” she told them. “All I need is the greatest possible flexibility.” Looking back, she observes, “It was an offer they couldn’t refuse.”
Perception vs. Reality
Even nonprofits with ample resources often shy away from encore talent. Some question the sincerity of individuals’ sudden interest in the organization. “They haven’t been committed to the cause from the outset,” says Leslye Louie, national director of the Encore Fellows program at Encore.org. “That causes hesitation: ‘Will they be here when the going gets tough?’ ” Anxieties about age loom as well. Can they keep up? Are they resistant to technology? How well will they relate to younger staff?
Those fears are grounded more in myth than reality. “You can get people who are open- or closed-minded at any age, and the technology gap for encore-age workers hasn’t existed for years,” Louie says. In addition, many organizations have found the synergism of intergenerational workforces to be an advantage rather than a drawback.
Nonprofits should look beyond stereotypes, says Jere King, a former vice president of marketing at Cisco Systems in San Jose, Calif. “The primary selling point is access to talent they might not be able to find or afford,” she says. “Nonprofits should think about their skills gaps and look for encore talent who can get them to the next level.” King held a fellowship position through Encore.org at Abilities United, a Palo Alto, Calif.-based nonprofit serving children and adults with developmental disabilities.
Stephen Friedman, President, Pace University
First Act: Friedman is a graduate of Princeton University and Harvard Law School, and a former commissioner of the U.S. Securities and Exchange Commission. Despite his incredible resume, his initial attempts to find a new opportunity in midlife were unsuccessful. He knows how humbling it can be to search for a career later in life. “The typical person feels kind of at sea,” he says. “I was a practicing lawyer coming up against mandatory retirement.”
Second Act: After an acquaintance suggested he try higher education, Friedman landed an appointment as dean of Pace University’s Law School. Then, in 2007, while many in his age group were out playing golf, the Pace trustees appointed him president. Now in his 70s, he is passionate about helping people move into encore careers. He founded Pace University’s Encore Transition Program.
... HR’s Opportunity
On the corporate side, HR could be doing more to help employees who may want to consider a second career. “People are leaving, whether they want to or not, and I’m not sure how much guidance they’re actually getting,” says Joan Tucker, program director of Pace University’s Encore Transition Program in New York. “If we could catch them at the stage where they are beginning to look forward, we could help them prepare.”