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retsoor retweeted
When the public invests in new tech, the public should benefit.
That’s why our investment in a Quantum Fabrication Lab at NYU includes a first-of-its-kind agreement to give the city seats on the board and a share of the revenue from the lab — all while making our city the quantum capital of the world.
We’re creating a new national model for economic development that gives working people a say and a stake.
Mamdani: At City Hall, we believe that when the public invests in new technology, the public should benefit from its success. That is why we have developed a first-of-its-kind governing agreement for the QFAB with our partners at NYU, one that will give New Yorkers both a stake in the future revenue of the technologies made here and a say in what those technologies are.
First, when new technologies are developed in the QFAB with tools that the city helped to fund, the city will receive 15% of NYU Central Administration’s revenue.
And second, the city will have three seats on the QFAB Executive Advisory Board to ensure that the voices of working New Yorkers shape quantum technologies for decades to come.
This sets a new national standard, or as we say in the industry, a standard model, for economic development in emerging industries. One in which the betterment of New Yorkers’ lives is not a footnote, and where economic justice and innovation go hand in hand.

