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Story summary
- Mayor Zohran Mamdani announced a nearly $30 million investment in NYU’s quantum technology lab.
- The city will receive 15 percent of proceeds from intellectual property created with city-funded equipment.
- NYU will contribute $255 million for construction and ten years of operations of the 23,000-square-foot facility.
- The Quantum Fabrication Facility is slated to open in 2030 at 770 Broadway in Manhattan.
- NYU expects the lab to generate about 2,000 permanent jobs.