Bloomberg announced on Monday, October 31, that seven schools submitted proposals to build a technology hub in New York City, some in conjunction with worldwide industry leaders. “Universities are always a major magnet for talent – and the world’s most dynamic companies always gravitate to places where they can find the best and the brightest,” Bloomberg said in a statement. “Along with everything we are doing to diversify and strengthen our economy, a new applied sciences campus has the potential to be a real economic game changer that will create jobs immediately, and for generations.”
At a Community Board 1 meeting on Wednesday, October 18, State Senator Michael Gianaris said building the campus on the south end of Roosevelt Island, “means a lot for us in Western Queens because you're going to end up helping to generate economic activity on the Long Island City side, where the bridge lets out.”
He said students at the school would have access to affordable housing in Long Island City, which would also benefit local businesses.
“Especially with the economy being as in poor shape as it is,” Gianaris said, “whatever we can do to generate economic activity and job creation for us is something we're always looking to do.”
According to Congresswoman Carolyn Maloney, the Economic Development Corporation projects that the facility could produce a ripple effect, creating more than 400 new businesses in the city that could generate billions of dollars and create more than 10,000 jobs.
“In addition, Roosevelt Island’s proximity to Western Queens makes it likely that this community will benefit most from the businesses spun off by a new campus there,” Maloney said in a statement. “Roosevelt Island provides an idyllic setting for students and faculty, and offers proximity to new and existing businesses in Long Island City, Astoria, Sunnyside, and Woodside.”
According to a press release from the school, Stanford chose Roosevelt Island for its $2.5 billion, 10-acre, environmentally sustainable campus because of its proximity to Queens and Manhattan.
In his submission letter to Bloomberg, Stanford President John Hennessy said "StanfordNYC has the potential to help catapult New York City into a leadership position in technology, to enhance its entrepreneurial endeavors and outcomes, diversify its economic base, enhance its talent pool and help our nation maintain its global lead in science and technology."
The other proposals include Amity University to build on Governor's Island; Carnegie Mellon University/Steiner Studios aiming for the Brooklyn Navy Yard; Columbia University for Manhattanville; New York University/University of Toronto/University of Warwick (UK)/The Indian Institute of Technology, Bombay/City University of New York and Carnegie Mellon together eyeing Downtown Brooklyn; and the New York Genome Center/Mount Sinai School of Medicine/Rockefeller University/SUNY Stony Brook going for Midtown Manhattan.
Bloomberg is expected to choose a winning proposal by the end of the year. The selection will be based on a number of factors, including potential projects to be undertaken at the campus, relations between the school and the community, and the ability to foster local economic development.