News
NYCEDC Selects Consortium of Top Academic Institutions as Operator of First-of-its-Kind Sustainable Materials Innovation Hub, Contingently Awarding $45 Million
Overview
Gotham Foundry will capitalize on New York City’s strength as global leader in research, development, and innovation to create this new hub of materials innovation, designed to support the next frontier of regenerative materials with a circular life cycle—such as degradable bioplastics, textiles made from food products, and other materials that will reduce industrial waste and pollution—that will support key industries foundational to the City’s economy including the fashion, construction, and regenerative medicine industries. Gotham Foundry is expected to generate $5.14 billion in economic output over the next three decades and will also create high-quality career opportunities for New Yorkers, including through workforce training programs for entrepreneurs and students, such as Genspace’s Break into Biotech program.