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Economic Development Strategy and the Role of Technology and Innovation in Crafting the Economy of New York City's Future--Robert K. Steel
Pages 21-22

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From page 21...
... Companies started by alumni of MIT have combined revenues equal to the GDP of Brazil. After the financial crisis began in 2008, Mayor Bloomberg asked the NYC Economic Development Corporation (EDC)
From page 22...
... We offered up to $100 million to assist with infrastructure, buildout, and/or equipment; three city-controlled sites; and technical assistance in exchange for significantly expanding a current academic facility or building a new applied sciences facility. In December 2011 Mayor Bloomberg announced the selection of Cornell University and Technion-Israel Institute of Technology to build a $2 billion, 2-million-square-foot applied science and engineering campus on Roosevelt Island.


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