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By Accord Real Estate Group

Brooklyn Navy Yard Biotech Hub Planned

February 5th 2023
Tags: All about Brooklyn New York

The Brooklyn Navy Yard is already home to tech centric endeavors. Mayor Eric Adams and City Hall want to create a 50,000 square foot life sciences and biotech center at this growing, vibrant and historic shipyard.

The $20M price tag for a new “innovation lab” is just a start. The mayor has future plans to invest in a hub providing workforce training and space for more industry startups.

According to mayor Adams “with a first in the nation incubator at The Brooklyn Navy Yard, startups right here in New York City transform the way we eat, build and protect our environment all while creating good paying jobs for New Yorkers and positioning the City's economy for the future”.

According to Andrew Kimball, the President and CEO of the city's Economic Development Corporation “sustainable biology is a game changing industry that will play a pivotal role in creating the sustainable materials, products and industries of the future while accelerating our transition to a zero waste economy”.

Satish Rao, the chief product officer at Newlab says:” We really think we can continue to leverage what New York brings to the table – people want to come here and work”.

The $20M initial investment from the city is part of a $1B commitment to the LifeSci New York City initiative originally launched in 2021 under former Mayor Bill Di Blasio.

One of the many hubs will focus on “materials innovation” an aspect of Biotechnology. Companies already working in this field are Algiknit and Tomtex.

Andrew Kimball is saying “Through this new initiative, New York City will build off years of progress to establish ourselves as a global leader in Life Sciences and cement ourselves as a leader in this new, rapidly expanding industry”.

The history is amazing and the future looks bright for The Brooklyn Navy Yard.

To be continued...

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