LifeSci NYC Plan to Create 16,000 New Jobs, 1,000 Paid Internships

Life SciJust before Christmas, New York City Economic Development Corporation (NYCEDC) announced that it is seeking proposals from potential operators for a wet laboratory incubator. It is NYCEDC?s first step toward launching a network of affordable workspaces for the next generation of high-growth life sciences companies in NYC.
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LifeSci NYC, a $500 million, ten-point initiative, will spur an estimated 16,000 new, good-paying jobs and establish New York City as a global leader in life sciences research and innovation. New Yorkers hoping to secure a career-track job in a growing industry and struggling with the rising cost of living will have access to 1,000 paid internships, new training programs and job placements in a field with average salaries of $75,000.
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As part of LifeSci NYC, the City will invest $10 million to build a network of incubators for life sciences start-up facilities. Incubators will be located near existing research centers to better support innovators and connect skilled workers with jobs.

The first incubator is expected to open at the end of 2017.

?Some of New York?s smallest life science startups are the ones that have the hardest time finding affordable places to work. But with a little help, they?re the businesses with the greatest potential for big discoveries and big job growth,? said NYCEDC President Maria Torres-Springer. ?By creating a network of affordable incubators, we?re making a real investment towards Mayor de Blasio?s goal of creating 16,000 good paying jobs and making New York City a global leader in this growing sector.?

With 16 percent growth in jobs since 2009, the life sciences sector is among the fastest growing in the city. It offers a wide range of technical jobs such as microbiologists and lab technicians, as well as non-technical jobs in areas like marketing and administration. Roughly 30 percent of jobs in the industry require only a high-school diploma or Associate?s Degree, while another 50 percent of jobs require only a Bachelor?s Degree.

Elements of the 10-point plan include providing $50 million to expand network of life sciences R&D facilities; investing $100 million to create a new Applied Life Sciences Campus; modernizing land use policies to encourage new space for life sciences firms; and providing $3.8 million to expand training programs for entrepreneurs.?

Remaining points can be found on the Life Sci website.?