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Subsidy Tracker Individual Entry

Company: Cornell University/Technion-Israel Institute of Technology
Parent Company: Cornell University
Subsidy Source: local
Location: New York
City: Queens
County: Queens
Project Description: applied sciences campus on Roosevelt Island
Year: 2011
Major Industry of Parent: miscellaneous services
Specific Industry of Parent: university
Subsidy Value: $400,000,000
Subsidy Value in 2023 Dollars: $544,606,061
Program Name: Applied Sciences NYC Initiative
Awarding Agency: multiple
Type of Subsidy: 
Number of Jobs or Training Slots: 8,000
Capital Investment: $2,000,000,000
Source of Data: The subsidy estimate came from: Richard Perez-Pena, "Environmental Features in Science Campus Plans," New York Times, October 24, 2011. The jobs and investment projections as well as additional details on the project were contained in a December 19, 2011 press release issued by Mayor Michael Bloomberg; online at (click here)
Notes: New York City chose a consortium of Cornell University and Technion-Israel Institute of Technology to build a two-million-square-foot applied science and engineering campus on Roosevelt Island. The city provided a $100 million grant for construction and infrastructure costs as well as making available land worth several hundred million dollar through a 99-year lease with an option to purchase the land at the end of the term for $1.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.