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Infrastructure - JUNE 10, 2021

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NYC invests $1b in life sciences

by Andrea Zander

Mayor de Blasio and the NYC Economic Development Corp. (NYCEDC) today announced a plan to double the City’s $500 million investment in life sciences to $1 billion as part of LifeSci NYC, a commitment launched in the Mayor’s State of the City address to create jobs and establish New York City as the global leader in life sciences. This expanded initiative is expected to generate 40,000 jobs.

Mayor de Blasio kicked off this next chapter of the City’s support for this industry by announcing an RFP to help advance the commercial research and development of new medicines, medical devices, diagnostics, materials and research tools. The City will provide up to $112 million in City capital to award $20 million to support one or more innovation projects. Multiple awardees can access up to $20 million each.

“New York City can do more than just fight back COVID-19. We can invest in fast-growing sec

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