‘Wonderful Holiday Gift’
Congressmember Carolyn Maloney hailed Mayor Michael Bloomberg’s selection of a joint bid by Cornell University and Technion-Israel Institute of Technology to build a new applied-sciences campus on Roosevelt Island. The project, which is slated to cost approximately $2 billion, will ultimately house more than 2,000 students and 300 faculty members in a new, two million square foot campus. Roosevelt Island is located in the 14th Congressional District, which Maloney represents.
“This is a wonderful holiday gift for New York that will pay tremendous dividends for generations. Our city’s diversity, culture, transit network, and historic role as the center of the world economy have always given us the ability to lead in the high-tech sector—and this new campus will be the catalyst to help us realize that potential,” Maloney said. “I thank Mayor
Bloomberg for having the vision to bring an applied sciences school to New York, for having the wisdom to choose Roosevelt Island as its new home, and for selecting a great New York institution, Cornell University, to launch the new school,” Maloney said.
“Roosevelt Island will be an outstanding site for a high-tech campus - accessible by transportation, in the heart of the city near Manhattan and Queens, but an island unto itself that will offer a peaceful campus environment. It is perfectly situated to spin off new projects that can be incubated in the growing business district in Long Island City.
“I am particularly thrilled that the winner is Cornell University, in partnership with the Technion. They are an unbeatable combination – matching academic excellence with a proven track record of creating new, high-tech start-ups. I congratulate the leadership of Cornell University, who really put their all into this winning bid,” Maloney added.
The city Economic Development Corporation projects that an applied-sciences facility could, over time, spin out more than 400 new businesses across the city, generating billions of dollars in new economic activity and creating tens of thousands of jobs. These jobs will not only benefit academics and researchers; they will also benefit New Yorkers of all skill levels, as universities and technology businesses employ people in a diverse range of jobs and generally pay higher salaries to employees without college degrees than do other sectors of the economy.
Roosevelt Island has unique qualifications that make it a perfect home for this facility, providing an idyllic setting for students and faculty, and offering proximity to the neighborhoods of Long Island City, Astoria, Sunnyside, and Woodside, just across the Roosevelt Island Bridge. These neighborhoods, including the growing central business district in Long Island City, offer competitive commercial rents to the startup companies that will inevitably spin-off from the Roosevelt Island campus to develop cutting-edge technologies and create new businesses.
These new companies will join a growing core of science and engineering-based businesses and institutions in Western Queens, including JetBlue, the RCN Corporation, Schick Technologies and the city Department of Health and Mental Hygiene, as well as a growing center of film and television production.