New York Mayor announces $500 million life sciences investment

14 December 2016

New York Mayor Bill de Blasio has announced $500 million in funding in a bid to establish the City as a leader in life sciences innovation and research and development (R&D).

In a move that it is believed will create up to 16,000 new jobs in the City, including residents without an advanced degree, three key areas are being targeted: connecting research to industry, unlocking space for start-up companies to grow, and building a pipeline for diverse life sciences talent.

Included in the investment is the creation of a new $100 million applied life sciences campus to drive bioengineering innovations, R&D partnerships, and entrepreneurial training, and $50 million to expand the existing network of life sciences R&D facilities.

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