Aerial view of Governors Island, one of the proposed building sitesWIKIMEDIA COMMONS, GRYFFINDOR

In an effort to generate revenue and jobs, New York City is inviting universities to build a science and tech facility within city limits, Mayor Michael Bloomberg said during a speech on Tuesday (July 19). The city is offering “prime New York City real estate—at virtually no cost—plus up to $100-million in infrastructure upgrades, in exchange for a university’s commitment to build or expand a world-class science and engineering campus here in our city,” Bloomberg said, adding that building sites are available at three “underutilized” locations in NYC: Governors Island, the Navy Yard, and Roosevelt Island.

The mayor estimated that in its first 30 years, an applied science campus could spin-off 400 new companies and create more than 22,000 permanent jobs.

As of March, more than two dozen organizations, including international applicants, had submitted proposals for...

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