Mayor Zohran Kwame Mamdani, Deputy Mayor for Economic Justice Julie Su and New York City Economic Development Corporation (NYCEDC) President and CEO Anthony Shorris today announced the city will award $29.2 million to New York University (NYU) to establish a cutting-edge Quantum Fabrication Facility (QFab), putting New York City at the front of the emerging quantum technology field. As part of the Mamdani administration's investment, the city will receive board seats at QFab as well as a stake in new technologies that emerge from QFab, a first-of-its-kind agreement that will allow the City to help shape this emerging technology for the public good.
QFab - which is backed by an additional $255 million investment from NYU spanning construction and 10 years of operations - will give researchers, students, start-ups and established companies access to specialized equipment for building and testing new quantum devices. It is expected to support more than 100 companies and reach 35,000 New Yorkers in its first 10 years of operation.
Additionally, to grow the number of New York City jobs in the quantum field, NYU will provide students at the City University of New York (CUNY) and New York City Public Schools (NYCPS) with access to state-of-the-art labs, training, new certificate programs and summer workshops.
Altogether, today's announcement represents a historic investment by the Mamdani administration in the future of New York City's economy and helps set a new national model for economic development for the public good.
"Right now, at subatomic levels that we can only glimpse, new technologies are being developed that will transform how we fight disease, store energy, and exchange information. We want those technologies, investments and jobs to be created here in New York City - and we want New Yorkers to have a say and a share in their success. With this new quantum lab, we are bringing that vision to life," said Mayor Mamdani. "This first-of-its-kind agreement will give the city board seats to shape the future of the quantum industry and a stake in the new technologies that emerge from the lab, making sure that all New Yorkers see the profits and progress from quantum technology, not just the wealthy few. We are building a city where economic justice doesn't come at the expense of innovation."
"When the public invests in a new technology at the start, the public should share in the success. With this agreement, we are setting a new standard for economic development in our city. This is exactly what we mean when we say economic justice and economic growth go hand in hand," said Deputy Mayor Su. "Technology is not something that just happens to us. When the City invests in emerging industries, it also gives us the power to shape what that technology is developed for. We are excited to work with NYU to create good jobs for New Yorkers to the benefit of New Yorkers."
"NYU's QFab is exactly the kind of economic development investment New York City should be making, bringing together government, universities and industry to turn breakthrough research into real-world opportunities," said NYCEDC President & CEO Shorris. "QFab will drive economic growth by helping create new companies, good-paying jobs and career pathways while ensuring the public shares in the intellectual property and economic value it generates. By investing in the infrastructure, partnerships, and talent that emerging industries need to grow, we're strengthening New York's innovation economy and ensuring more New Yorkers benefit from its success."
"This announcement is a powerful example of what can happen when higher education, government, and industry work together to invest in the future. This initiative builds on CUNY's ongoing efforts to bring emerging technologies into the classroom and connect our students to high-growth careers," said CUNY Chancellor Félix V. Matos Rodríguez. "By expanding access to world-class quantum facilities, training programs, and research opportunities, we are ensuring that the benefits of this technological revolution reach communities across New York City. Together with NYU and our partners in government and industry, we are helping make New York a premier quantum technology hub and a model for innovation in service to the public good."
"The New York City region is home to one of the largest concentrations of quantum scientists and engineers in the world. 770 Broadway will be the catalyst for new discoveries that propel us to the next level. What will make our new quantum facility truly unique is how connected it will be with the city around it. Through our partnership with the City, thousands of CUNY students will train alongside our NYU students on cutting-edge equipment and build their research careers in one of the fastest growing scientific fields. New York City-based start-ups and companies will have access to cutting-edge fabrication and materials found in few other cities," said NYU President Linda Mills. "This is going to be the launchpad for an entire new industry with enormous opportunities for New Yorkers."
"Quantum won't be built by any one institution working alone," said Dr. Juan de Pablo, NYU's Executive Vice President for Global Science and Technology, and the Executive Dean of the NYU Tandon School of Engineering. "QFab brings research, industry, and hands-on training together under one roof to create one of the most advanced fabrication facilities in the nation. Importantly, this is a facility that will fuel job creation not only for those with advanced degrees, but for technicians, fabricators, and engineers at all levels that this field demands. This is our chance to make sure that as the quantum industry takes shape, it takes shape here, so the NYU and CUNY students training in our labs today can forge careers right here in New York, tomorrow. The quantum future is coming whether New York builds it or not. Today we make sure it's built here in New York City, by New Yorkers from all five boroughs."
