Applied Sciences NYC
One of NYCEDC’s largest initiatives to-date is Applied Sciences NYC an innovative competition to create a new world-class engineering campus in the five boroughs. In December 2011, Mayor Bloomberg announced the selection of an historic partnership with Cornell University and the Technion-Israel Institute of Technology to create a groundbreaking, two-million-square foot applied science and engineering campus on Roosevelt Island. The City projects that the NYC Tech Campus will generate more than $7.5 billion (NPV) and more than $23 billion (nominal) in overall economic activity over the course of the next three decades, as well as $1.4 billion (nominal) in total tax revenue. The campus alone will help create up to 20,000 construction jobs and up to 8,000 permanent jobs. Even more significantly, the campus is expected to create nearly 600 spin-off companies, which are projected to create up to an additional 30,000 permanent jobs.
Read more about this topic: New York City Economic Development Corporation
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