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New York City puts $29.2M into NYU quantum lab QFab, set to open in 2030
Mayor Mamdani announced the city will award NYU $29.2 million to build the Quantum Fabrication Facility at 770 Broadway; the university adds $255 million. The city gets three board seats and a 15% cut of technology proceeds.
Why it matters
On October 14, Mayor Zohran Mamdani announced that New York City will award New York University $29.2 million through the city's Economic Development Corporation to build the Quantum Fabrication Facility (QFab) at 770 Broadway in Manhattan. NYU will invest an additional $255 million in construction and 10 years of operations, bringing the combined investment to roughly $284 million. The facility is expected to open in 2030.
City gets board seats and a share of proceeds
In exchange, the city will hold three seats on QFab's executive advisory board and receive 15 percent of proceeds from technologies developed using city-funded equipment, including patent licenses, royalties, equity and milestone payments. City officials called it a first-of-its-kind deal giving the public sector a stake in a private-sector initiative, so New Yorkers get 'a say and a share' in the technology and jobs created.
Facility and workforce
The 23,000-square-foot QFab will house cleanrooms, cryogenic testbeds and advanced manufacturing equipment for fabricating and testing quantum chips, open to researchers, students, startups and established companies. It is expected to support more than 100 companies and reach 35,000 New Yorkers in its first 10 years, with labs, training and certificate programs open to CUNY and public high school students to build a local quantum workforce.
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