Key part of Mayor’s LifeSci NYC plan for 16,000 jobs
City is committing up to $100M in capital, identifying potential sites in East Harlem, Long Island City, and Kips Bay
New York, NY -- New York City Economic Development Corporation (NYCEDC) today launched a global challenge to create a world-class hub for life sciences research and development. The “Applied Life Sciences Hub” will be a center of gravity for the city’s rapidly growing life sciences industry, offering a dynamic, collaborative environment for founders, inventors, and entrepreneurs.
NYCEDC is formally requesting proposals for the Hub, seeking a mission-driven organization or joint venture to lead, develop and anchor this important project. The de Blasio administration is challenging life sciences organizations worldwide to propose a creative long-term commitment to the applied life sciences in New York City, building on the city’s history of leadership in biomedical research.
In December 2016, Mayor de Blasio announced LifeSci NYC, a 10-year $500M commitment to establish New York City as a global leader in life sciences R&D and innovation, spurring an estimated 16,000 jobs and addressing the need for up to 3 million square feet of new space for life sciences companies and researchers. The Applied Life Sciences Hub is the signature initiative for LifeSci NYC, and a key component of Mayor de Blasio’s New York Works plan to create 100,000 quality jobs over the next decade.
“The Applied Life Sciences Hub has the potential to vault New York City into the forefront of this growing industry. We are excited to begin this partnership with researchers, innovators and institutions so we can spur the breakthroughs and jobs that will help define our city for decades to come,” said Deputy Mayor for Housing and Economic Development Alicia Glen.
“The Applied Life Sciences Hub will help make New York City a true global leader in life sciences and the good, accessible jobs being created in this growing sector,” said NYCEDC President and CEO James Patchett. “We envision this hub as a ‘Bell Labs for Biotech’, a place where the best and brightest spin out new discoveries that turn into new cures and new businesses.”
The City of New York is offering up to $100 million in capital funding to seed a transformative project, expecting to leverage significant private and philanthropic investment. The City has also identified three City-owned sites for potential activation:
- 2469 Second Ave in East Harlem
- 455 First Avenue in Kips Bay
- 44-36 44 Drive in Long Island City