The U.S. Department of Education has named New York State as one of the 10 winners of the second round of its “Race to the Top” school reform grant competition.

At separate news conferences this afternoon, Governor David Paterson and Mayor Michael Bloomberg announced that the state came in second place, just behind Massachusetts, and praised the efforts of all who made it possible.

The state will be rewarded up to $696 million over four years. More than 50 percent of that money is supposed to be going directly to the school districts.

“What we will receive today in this award is that it will go a long way to assure that students across the state, from our rural areas to our urban centers, receive the quality education that they all deserve,” said Paterson.

Paterson said the money will be used to help ensure academic success and keep high standards during this difficult economic time.

Bloomberg said the real winners here are the millions of the city’s public schools students. He says he anticipates that nearly $300 million of the funds will come to the city.

“In essence, I think it’s safe to say we received the federal seal of approval for our achievements here in New York City and now we’re also receiving federal funds that allow us to take our efforts even further,” said the mayor.

The state finished near the bottom in the first round, but lawmakers made changes to increase the state’s chances this time around, by raising the cap on charter schools and improving teacher evaluation programs.

Schools Chancellor Joel Klein, who joined the mayor at today’s press conference, said that hard work is ahead so that the money is spent wisely.

The state is one of nine to receive second-round funding.

Florida, Georgia, Hawaii, Massachusetts, Maryland, North Carolina, Ohio, Rhode Island and Washington, D.C., are also receiving funds.

Eighteen states and the District of Columbia applied for Race to the Top grants.

The Race to the Top program is aimed at rewarding school reform efforts across the country.

(Source: NY1)