The new CornellNYC Tech applied sciences center planned for Roosevelt Island is hoping to train entrepreneurs and tech savvy individuals to help make NY a top tech center , according to The Associated Press. The new campus,slotted for a $2 billion budget, is a partnership between the Technion-Israel Institute for Technology and Cornell University. CornellNYC Tech estimates that the campus will generate at least $1 billion in tax revenue and thousands of construction jobs. According to the AP, the campus is scheduled to open in 2017, while in the meantime students will take classes at Google’s NY offices starting this September. In order to make room for the campus on Roosevelt Island, a public hospital built-in 1939 will be demolished and patients will be relocated to other facilities throughout the city. City officials have also maintained that the construction will not disrupt the lives of residents, but they are concerned about an increase in-car traffic, which the city also reassured would not be an issue.
CornellNYC Tech claims a new approach to research center academics. The AP reports that students will be developing software for the industries that are already at the center of strength in NY: medical tech, green energy systems, and digital media usage in a variety of sectors. Students will also be working with experts in the industries, giving them the ability to work directly with current projects.
Technion-Israel Institute won over a dozen of competing institutions for a partnership with Cornell because of its technological success in Haifa, Israel. The city hopes that the tech industry will benefit from this partnership. According to the AP, NY’s tech industry has had 500 new companies since 2007, making it second only to Silicon Valley. The initiative also hopes to supply jobs for engineers, which are in high demand in the city.