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EDC Launches Two Tech Hubs

NEW YORK CITY—The facilities, in Midtown and Brooklyn, will work to attract firms in the sweet spot between too big for incubator programs but too small or new to purchase market-rate office space.

Hub @ New Lab The Hub @ New Lab will be housed at the Brooklyn Navy Yard.   Photo courtesy of New Lab

NEW YORK CITY—Demonstrating its commitment to the city’s fastest growing industry—technology—the NYC Economic Development Corp. Thursday announced plans to business hubs in Midtown and the Brooklyn Navy Yard to increase jobs in tech and expand its efforts in urban problem-solving, according to Crain’s New York Business. GlobeSt.com was unable to reach the EDC by press time for further comment; updates will be provided as warranted.

The new centers reportedly are part of a new $7.2 million program called UrbanTech NYC. The two locations will span more than 100,000 square feet and cater to companies too big to participate in incubator or accelerator programs but not established enough to afford market-rate office space,” Crain’s reports. “The spaces will offer affordable rents and access to manufacturing software such as 3-D printers for prototypes, along with educational programs and display space for whatever products are dreamed up. Both hubs are set to open this summer.

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Rayna Katz

Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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