Mayor Launches Initiative for Jobs in NYC Sciences Sector

By Janet Forest

New York City’s life science industry got a huge boost today as De Blasio’s administration announced the Early-Stage Life Sciences Funding Initiative, a $150 million public-private partnership that aims to further develop all facets of the City’s life science sector.  

Real Estate Rama, reported the project will create “thousands of 21st century job” and help grow and diversify the City’s economy.

“The healthcare sector is the leading employer in New York City, providing approximately 481,400 jobs, and has experienced exceptional growth, having created 23,400 jobs over the last year, an increase of 5.1%. The life sciences sector specifically currently employs approximately 13,700 people and has grown approximately 15% since 2013.”

One aspect of the Early-Stage Life Sciences Funding Initiative is to increase the available amount of affordable R&D commercial space in New York City. Right now the City’s capacity is less than 1 million square feet.

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