The Bloomberg administration is pursuing an initiative to make New York City the next Silicon Valley by creating an applied science center in the City. Locations include Roosevelt Island, Governors Island and Brooklyn Navy Yard. The technology initiative is expected to create 22,000 jobs over the next decades.
Thus far, 27 institutions including Stanford and Cornell have submitted proposals. A driver behind the project is to create diversification in the local economy and reduce reliance on Wall Street. Google would have expanded quicker in New York City if it had found more tech talent here.
Race is On to Build Applied Science Center
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