NEW YORK (CBSNewYork) — Cornell University and the Technion Institute of Technology of Israel have been selected by Mayor Michael Bloomberg to help build a Roosevelt Island Science Center into a rival of California’s Silicon Valley.
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It was a multi-billion dollar competition to build a 2 million square-foot applied science and engineering campus on Roosevelt Island that Bloomberg hopes will catapult New York City into becoming the leading developer of innovation and technology in the country, reports CBS 2’s Marcia Kramer.
“Today will be remembered as a defining moment,” Bloomberg said.
The mayor said Cornell and Technion have some incredible plans for the future.
“Their sweeping proposal envisions an 11-acre campus on the Goldwater Hospital site on Roosevelt Island right in the heart of our city. It promises to create a beehive of innovation and discovery,” Bloomberg said.
The program is part of Mayor Bloomberg’s efforts to build new businesses in New York and to develop the five boroughs as the technical business capital of the world.READ MORE: NYPD: 5 Shot, Including Suspect, After Fight Breaks Out As Bars Close In Upper Manhattan
“It really is a game changer. In fact, the economic impact will be even greater than we originally thought,” Bloomberg said. “It will generate more than $23 billion in economic activity over the next three decades as well as $1.4 billion in tax revenues.”
“This is a story of connectivity of connectivity between people and their ideas between researchers and business people between students and their dreams,” Cornell President David Skorton said.
The Technion president was told by city officials why they wanted his school to be part of the new development.
“You university took a country with a Jaffa oranges economy and turned it into a semi-conductor economy,” Professor Peretz Lavie said.
The mayor estimates that the school will generate 600 private start-up companies, which will generate in and of themselves another 30,000 jobs.
The school expects to open an off-site campaign in the next year. The first students will attend class on Roosevelt Island by 2017.MORE NEWS: Gabby Petito's Tragic Death Prompts Broader Discussion About Toxic Relationships
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