NYC Will Open Biotech Hub at Brooklyn Navy Yard
New York City Mayor Eric Adams, New York City Economic Development Corporation and the Brooklyn Navy Yard Development Corporation said Friday that the city will open a $20-million center for sustainability-focused biotech at the Brooklyn Navy Yard in partnership with Newlab, the Partnership Fund for New York City and Empire State Development. The 50,000-square-foot innovation space is expected to open in 2025.
Reportedly this will be the first commercial hub for sustainable biotechnology in the U.S. and will help position New York City as a leading life sciences market, while also producing new technologies that will help address climate change. The center will receive a $20-million investment as part of the city’s LifeSci NYC initiative.
“The way to create the jobs of the future is by supporting companies solving some of the most pressing challenges of our time, like climate change and carbon emissions,” said Adams.