Mayor Green Lights NYU CUSP on Jay St.
What a day for tech in Brooklyn! First, we get the results from the Tech Triangle study ($3 billion in economic impact and over 9,000 jobs created by tech and creative firms in the Tech Triangle) and then NYU, Mayor Bloomberg and the MTA announce that NYU has been chosen by the city as a second winner of the Applied Sciences initiative (in addition to Cornel's Roosevelt Island campus). The city will kick in $15 million for the Center for Urban Science and Progress (CUSP) at 370 Jay St in downtown Brooklyn.
CUSP will be re-purposing the former MTA building at 370 Jay St, which has stood mostly empty for years. The new institution will focus on tech and innovations that solve the kinds of problems that will face cities in the decades to come, from communications to infrastructure to efficiencies that can be gained for all public systems thanks to evolving technology.
The announcement comes on the heels of a grassroots effort aimed to get the plan done - headed up by the DUMBO Improvement District and the Downtown Brooklyn Partnership, Borough President Marty Markowitz, State Senator Squadron, Assemblywoman Millman, Councilmember Levin and a number of local firms. The new campus could help create a thriving tech corridor from Jay Street in DUMBO to Jay Street in Downtown Brooklyn.
“Over the next five years, 370 Jay Street will be transformed into a cutting-edge center for research and science that will give another huge boost to our city’s economy,” said Mayor Bloomberg. “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. With the addition of this new campus, Brooklyn will be one of the most dynamic environments for entrepreneurs anywhere in the country.”
“Being ‘in and of the City’ is part of NYU’s DNA; at no point has that been truer than today,” NYU President Sexton said. “New York itself has always been part of the educational experience at NYU; with CUSP, New York will also be a living laboratory, a source of research, a test-bed for new ideas, and the economic beneficiary of our researchers’ discoveries. CUSP has drawn together an exceptional group of educational and industrial partners to develop technologies to address an increasingly urbanized world. Attracting partners of such caliber is a validation not only of CUSP’s core idea, but also of the Mayor’s vision to make New York a capital of science and technology. This is a great and proud day for New York and for NYU.”
Check out more of what local leaders have to say about CUSP here.