Mayor Bloomberg and Columbia University President Bollinger Announce Agreement to Create New Data Science Institute.
City Will Assist Columbia's Plan to Create a World-Class Center for Data Sciences and Engineering, Including Investment in New Laboratory Space for Expansion of Number of Top Faculty and Doctoral Students
Partnership Is the Newest Step in the City's Applied Sciences NYC Initiative; Expected to Generate Nearly $4 Billion in Overall Economic Impact and More Than 4,500 Jobs over the Next Three Decades
Total Impact of Three Applied Sciences Projects is More Than $33 Billion, Over 48,000 Jobs, Nearly 1,000 Spin-Off Companies Mayor Michael R. Bloomberg and Columbia University President Lee C. Bollinger today announced an agreement between the City of New York and Columbia University that will lead to the creation of a new Data Science Institute, to be located at Columbia's Morningside Heights and Washington Heights campuses in New York City, and the hiring of dozens of new faculty within the university's Fu Foundation School of Engineering and Applied Sciences. The announcement is the next milestone in the City's groundbreaking Applied Sciences NYC initiative, which seeks to dramatically increase New York City's capacity for applied sciences and engineering while strengthening and transforming the City's economy for generations. As part of the agreement, the City will provide $15 million in critical financial assistance to Columbia -- which includes discounted energy transmission costs and partial debt forgiveness -- as well as valuable lease flexibility leading to the development of the Institute. The agreement includes the creation of 44,000 square feet of new applied science and engineering space on Columbia's campus by 2016 and the addition of 75 new faculty over the next decade and a half. The focus of the new institute will be on advances in the data sciences, attracting high-caliber faculty in specific fields of study, and expanding Columbia's research capabilities and funding, and building upon the school's recent successes in engineering. In addition, the institute will enhance the level of training available to the city's next wave of talented engineers and generate nearly $4 billion of economic growth across the five boroughs over the next three decades, bringing the total economic impact of the City's three Applied Sciences NYC projects to more than $33 billion over the same period. The Mayor and President Bollinger were joined at the announcement, which took place at Columbia's new Northwest Corner Building in Morningside Heights, by Deputy Mayor Robert K. Steel, New York City Economic Development Corporation President Seth W. Pinsky, Interim Dean of Columbia's School of Engineering and Applied Sciences Donald Goldfarb, Columbia Computer Science professor and inaugural Director of the Data Science Institute, Kathy McKeown, the Institute's Deputy Director, professor of Civil Engineering and Engineering Mechanics Patricia Culligan, as well as State Assembly Member Guillermo Linares, Manhattan Borough President Scott Stringer, City Council Member Gale Brewer and City Council Member Robert Jackson.