Biz group invest $20M in *NYC* tech campuses and live-work spaces for startups
Partnership for New York City is investing $20 million to jumpstart urban tech campuses in underutilized spaces to help startups flourish. The New York City program is designed to provide entrepreneurs in every borough flexible, affordable live-work space, according to the group’s news release.
“Our city’s future depends on skilled and productive workforce,” Partnership Vice Chairman Phillippe Dauman, CEO of Viacom said in the release.
Copying a move by e-tailer Zappos, which created a campus in the former Las Vegas city hall, Partnership’s idea is to convert some of New York City’s vacant armories, old hospitals and unwanted class B office space in to tech campuses.
The group’s financial commitment is part of its NYC Jobs Blueprint, an in-depth analysis of the state of New York City’s economy and set of 30 forward-thinking recommendations, the release states. Some of the key recommendations include affordable work-live space, public-private financial vehicles for infrastructure improvements, creation of permanent innovation advocacy groups along with industry-labor partnerships, support programs, and policies that nurture startups growth.
“This is not your parents’ concept of economic development, but an innovative blueprint for making the city more competitive and rebuilding its middle class job base,” Executive Director of the Center for Urban Future Jonathan Bowles said in the release.
Partnership of New York City is a nonprofit organization representing leaders of New York City’s corporate, investment and entrepreneurial businesses, which together employ more than 1.7 million New Yorkers.