New York to invest US$1bn in ‘climate-focused’ construction

Manhattan, New York City, US, Midtown skyline. (Image: Adobe Stock)

Referred to as a ‘first-of-its-kind’ scheme, the plan serves as a roadmap for New York City’s (NYC) fight against climate change and its goal of a greener economy.

“The Green Economy Action Plan delivers the first forecasting of New York City’s green economy and job growth through 2040,” stated the NYCEDC.

“New York City’s green economy will host nearly 400,000 jobs by 2040 – up from 133,000 today. The plan identifies key occupations that are essential to growing the green economy and highlights 21 occupations that provide pathways to economic mobility, many of which do not require higher education degrees.”

The Green Economy Action plan includes almost US$1 billion of investments into climate-focused construction and infrastructure projects.

It included the creation of a “Climate Innovation Hub” at the Brooklyn Army Terminal, which is a proposed 112,000 sq. ft. (10,405m2) building for “business development, incubation, and research commercialisation.” According to NYCEDC, the hub will be able to house 150 startups over a 10-year period with goals of building and prototyping products, providing business support, and carrying out product research and development.

Mayor Adams said the city plans to invest up to $100 million in the Climate Innovation Hub. Across three campuses, the initiative aims to support 5,000 new and permanent jobs while educating and training 2,100 New Yorkers across various industries.

“This work will build on a strong foundation of green economy projects such as the 400,000-square-foot New York Climate Exchange, an academic and research consortium anchored by Stony Brook University on Governors Island, and the development of five-million-square-feet of net-zero manufacturing space at the Brooklyn Navy Yard,” said NYCEDC.

Through a ‘Request for Proposal’, which NYCEDC said would be released on March 18, the organisation will seek an operator for its new Climate Innovation Hub at the Brooklyn Army Terminal. At that point, potential partners can learn more about the vision for the hub and complete a partner form to register interest.