New York University will create an applied sciences campus in Brooklyn after becoming the second winner in a contest sponsored by Mayor Michael Bloomberg to boost New York’s global competitiveness in the sciences.
NYU will team with Carnegie Mellon University, City University of New York, University of Toronto, University of Warwick and the Indian Institute of Technology Bombay on the campus in downtown Brooklyn, according to an e-mailed statement today from the mayor’s office. International Business Machines Corp. (IBM) and Cisco Systems Inc. (CSCO) are also part of the consortium.
New York City is seeking to diversify its economy beyond Wall Street with the development of science campuses that will create technology companies and jobs. The NYU campus is expected to generate $5.5 billion in new jobs and tax and other benefits for the city through businesses that are spun off by the campus and related research, according to an analysis conducted by the city’s Economic Development Corp.
“Our administration has long seen the promise of Downtown Brooklyn, and we’ve made the investments needed to transform it into a thriving center for business,” Bloomberg said in the statement. “With the addition of this new campus, Brooklyn will be one of the most dynamic environments for entrepreneurs anywhere in the country.”
The NYU Center for Urban Science and Progress will begin offering classes in 2013 and after renovation will move into the former headquarters of the city’s transit authority. It will feature classrooms, as well as an incubator for businesses.
The city sought proposals for applied sciences schools from universities worldwide in July. Bloomberg selected Cornell University and Technion-Israel Institute of Technology in December to create an engineering campus on Roosevelt Island. New York is giving Cornell and Technion $100 million in city funds to help develop that $2 billion campus. Those schools beat out six competing bids, including one from Stanford University, which withdrew from the contest.
NYU’s campus in Brooklyn will focus on research and technological development to help cities in areas such as infrastructure, technology integration, energy efficiency, transportation congestion, public safety and public health, according to the statement.
Much of the 460,000-square-foot, city-owned building has been vacant for more than a decade. It’s now partially occupied by the Metropolitan Transportation Authority and the New York City Police Department.
The city will continue to own the building and will lease it to NYU for 99 years. NYU will pay $50 million to the MTA to relocate, said Julie Wood, a spokeswoman for the mayor’s office. The campus would receive about $15 million in tax breaks and energy cost savings, she said.
NYU is the largest private nonprofit research university in the U.S. by enrollment, with more than 55,000 students and 16,000 employees, according to its website.
The mayor is founder and majority owner of Bloomberg News parent Bloomberg LP.
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