NYC about to get a $115M Advanced Manufacturing Center

By Michael del Castillo for New York Business Journal

Nov 04, 2015

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Mayor Bill de Blasio announced $115 million in city funding to launch an Advanced Manufacturing Center along with other programs designed to jumpstart New York City’s struggling industrial sector with some high-tech alternatives.

The mayor formally unveiled the program with City Council speaker Melissa Mark-Viverito today at the Greenpoint Manufacturing and Design Center.

“Manufacturing isn’t just past of New York City’s past – it is a thriving part of our 21st century economy," said de Blasio in a statement."We are positioning our industrial businesses to take advantage of new technology and new demand"

The so-called "Industrial Action Plan" is intended to strengthen the city’s core industrial areas, but it also limits as-of-right hotel and mini-storage development in Industrial Business Zones. It also establishes a new $150 million loan and grant fund for new and growing industrial businesses, especially in advanced technologies, specifically 3D printing. New industry career centers are also anticipated to open as part of the plan.

Read more about New York City's aggressive plan.