In an effort to generate revenue and jobs, New York City is inviting universities to build a science and tech facility within city limits, Mayor Michael Bloomberg said during a speech on Tuesday (July 19). The city is offering “prime New York City real estate—at virtually no cost—plus up to $100-million in infrastructure upgrades, in exchange for a university’s commitment to build or expand a world-class science and engineering campus here in our city,” Bloomberg said, adding that building sites are available at three “underutilized” locations in NYC: Governors Island, the Navy Yard, and Roosevelt Island.
The mayor estimated that in its first 30 years, an applied science campus could spin-off 400 new companies and create more than 22,000 permanent jobs.
As of March, more than two dozen organizations, including international applicants, had submitted proposals for the project. A winning proposal and location will be picked by the end of this year, according to the Chronicle of Higher Education.