New York City will invest $29.2 million in a new quantum fabrication facility at New York University (NYU), Mayor Zohran Mamdani announced on Oct. 14. Under a public-private partnership, the city will receive a share of revenue from certain technologies developed at the facility, according to a press release from the mayor’s office.
“Right now, at subatomic levels that we can only glimpse, new technologies are being developed that will transform how we fight disease, store energy, and exchange information,” Mamdani said. “We want those technologies, investments and jobs to be created here in New York City – and we want New Yorkers to have a say and a share in their success.”
The Quantum Fabrication Facility (QFab) will receive an additional $255 million from NYU for construction and 10 years of operations, bringing the total investment to approximately $284 million, according to the city.
The 23,000-square-foot facility at 770 Broadway in Manhattan is expected to open in 2030. It will provide researchers, students, startups, and established companies with specialized equipment to develop and test quantum technologies.
City officials said the facility is expected to support more than 100 companies and reach more than 35,000 New Yorkers during its first decade of operations. This includes more than 5,000 students through undergraduate and graduate school programming, summer bootcamps for New York City Public Schools students, internship programs, and a new certificate program launched at select schools within the City University of New York (CUNY).
“This initiative builds on CUNY’s ongoing efforts to bring emerging technologies into the classroom and connect our students to high-growth careers,” said CUNY Chancellor Félix V. Matos Rodríguez.
The agreement gives New York City three seats on QFab’s Executive Advisory Board and a 15% share of NYU Central Administration’s proceeds from intellectual property developed using city-funded equipment. Those proceeds could include equity, royalties, milestone payments, and patent licensing revenue.
The facility will include advanced manufacturing and testing capabilities for quantum chips and components, specialized cleanrooms, and cryogenic equipment used to operate quantum devices at extremely low temperatures.
The city anticipates that the facility will incubate nearly 50 companies and provide services to 50 newly formed startups.
Quantum technology is projected to generate up to $2.7 trillion in economic value worldwide by 2035, according to the mayor’s office. City officials said applications could span life sciences, finance, healthcare, and other industries.
