Looking to compete with the Silicon Valley and Massachusetts as a hub for professionals with technology experience on their resumes, New York City officials have set their sights on a new job-creating research facility along the East River. Cornell University was recently named the winner of a 15 university-wide competition to set up the new center where entrepreneurs and new technology pioneers can pitch their business plans to venture capitalists. The new $2 billion Cornell campus will be built on 10-acres on Roosevelt Island, and will be funded with the help of a $350 million anonymous gift made to the university for the project. New York City will also kick in $100 million for infrastructure work. Seth W. Pinsky, president of the New York City Economic Development Corporation, said the new development will help spur innovation and create local technology jobs. "Software and applications need the kind of dense expertise that cities are full of," Pinsky told the news agency. According to the Bureau of Labor Statistics, job opportunities for computer software and applications engineers are expected to grow the fastest of all occupations, by 34%, through the end of the decade. |