While New York City’s economy has weathered the recent recession better than most other cities, we are still facing significant challenges. The recent downgrade of our nation’s credit rating, the continuing uncertainty on Wall Street, and high unemployment levels are all important reminders of the difficulties we face.
During these trying fiscal times, it is more important than ever for government on the local, state and federal levels to develop new ways to help our economy and grow jobs. With Applied Sciences NYC, an initiative Mayor Michael Bloomberg announced in July, the city is seeking to do just that – with many of the benefits landing right here in western Queens.
This bold and innovative plan seeks proposals from universities to build or expand a state-of-the art applied sciences campus here in New York City, offering city-owned land – including a site on Roosevelt Island – and up to $100 million in capital for infrastructure costs. The city is committed to selecting a partner by the end of 2011, and 27 top-tier universities from across New York, the nation and the globe have already expressed interest in competing for this unique opportunity.
Those of us who represent Roosevelt Island and western Queens recognize the incredible opportunity this could provide for our constituents and are committed to working together to ensure that an applied sciences facility on Roosevelt Island becomes a reality.
No doubt many New Yorkers are unfamiliar with the term “applied sciences,” which refers to a field of study that combines science, technology, engineering and math to create cutting-edge products that solve practical problems. From baking soda to vaccines to the Internet, applied sciences has and will continue to change the way we live and work.
This new campus would increase the scale of applied sciences activity taking place in New York, and will create jobs for New Yorkers in the growing fields of science and technology. Over a number of years, the New York City Economic Development Corporation projects this new facility will spin out more than 400 new businesses across the city, generating billions of dollars in new economic activity and creating tens of thousands of jobs.
Roosevelt Island has qualities that would make it a perfect home for this campus, including proximity to the vibrant neighborhoods of Long Island City, Astoria, Sunnyside and Woodside. These neighborhoods, including the emerging central businesses district in Long Island City, can offer office space at competitive commercial rents to the startup companies that will spin off from the Roosevelt Island campus to develop cutting-edge technologies.
These new companies will join a rapidly growing core of science and engineering-based businesses and institutions in western Queens, including JetBlue, the RCN Corp, Schick Technologies and the New York City Department of Health and Mental Hygiene.
The jobs created by these businesses will not only be available to scientists and professors, they will benefit New Yorkers of all skill levels, as universities and technology businesses employ people in a diverse range of jobs and typically pay higher salaries to employees without college degrees than other sectors of the economy.
This initiative is truly a once in a generation opportunity to transform Western Queens into a top destination for entrepreneurs and technology start-ups, which will forever alter the local economy. I am looking forward to working with Mayor Bloomberg, as well as federal, state and local partners to ensure that we bring this new campus to Roosevelt Island.