New York City's mayor, Michael Bloomberg, announced last month that his administration would offer land and up to $100 million in infrastructure upgrades to a university willing to build an engineering or applied sciences campus in Brooklyn's Navy Yard or on Roosevelt or Governors Island. Already, Stanford and Cornell have expressed interest in submitting a bid.
Behind the initiative is the hope that within a few decades, New York will attract a "critical mass of technology entrepreneurs," capable of producing hundreds of innovative companies and jobs.
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