New York, NY – New York City Mayor Eric Adams, Trust for Governors Island President and CEO Clare Newman, and State University of New York (SUNY) Stony Brook University President Maurie McInnis today unveiled the “New York Climate Exchange,” a transformative vision for a first-in-the-nation climate research, education, and jobs hub on Governors Island that will create thousands of permanent jobs and $1 billion in economic impact for the city. A cross-sector consortium led by Stony Brook, the Exchange will create a state-of-the-art, $700-million, 400,000-square-foot campus dedicated to researching and developing innovative climate solutions that will be scaled across New York City and the world and that will equip New Yorkers to hold the green jobs of the future.
“Today, here in the heart of New York Harbor, we are taking a giant leap toward a cleaner, greener, more prosperous future for every New Yorker with the ‘New York Climate Exchange,’” said Mayor Adams. “This first-of-its-kind project will make New York City a global leader in developing solutions for climate change while creating thousands of good-paying green jobs for New Yorkers and infusing $1 billion into our city’s economy. Where some people see challenges, New Yorkers see opportunities, and this team and this project are leading the charge.”
The culmination of a two-year, competitive request for proposal process, the selection of the New York Climate Exchange represents a major milestone in the city’s groundbreaking Center for Climate Solutions initiative — a key piece of Mayor Adams’ “Rebuild, Renew, Reinvent: A Blueprint for New York City’s Economic Recovery” — which will create 7,000 permanent jobs and a billion dollars in economic impact, while expanding and enhancing public access to Governors Island. The Exchange alone will create over 2,200 100-percent union jobs, including for construction and building services, with a commitment to hire all construction and building service workers at prevailing wage and a goal of 35 percent minority- and women-owned business enterprise (M/WBE) participation in construction.
Once fully operational, the campus is expected to serve 600 postsecondary students, 4,500 K-12 students, 6,000 workforce trainees, and 250 faculty and researchers every year while supporting up to 30 businesses annually through its incubator program. The campus will be funded in part with significant gifts of $100 million from the Simons Foundation and $50 million from Bloomberg Philanthropies.
“New York City still remains the global hub for innovation — and the investment in Governors Island is another example of the forward-thinking vision our city can deliver on,” said First Deputy Mayor Sheena Wright. “From a state-of-the-art education hub to creating thousands of jobs across emerging sectors, the Adams administration is writing a new, exciting chapter in our city’s history. I applaud all of the partners, the cross-sector collaboration, and leadership across multiple mayors that made this announcement possible.”
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