New York University (NYU) will receive $29.2 million from the City of New York to establish a Quantum Fabrication Facility (QFab), Mayor Zohran Mamdani has announced.

Located at 770 Broadway, QFab will span 23,000 sq ft (2,137 sqm) and will offer advanced manufacturing and quantum chip testing capabilities, alongside technician training programs and resources to help startups incubate and commercialize their technology.

Under the terms of the agreement, the city will receive board seats at QFab and a stake in new technologies that are developed at the facility. NYU will also invest $255m to cover construction of the facility and ten years of operations.

The university expects the facility to support more than 100 companies within its first decade, with NYU also agreeing to provide students at the City University of New York (CUNY) and New York City Public Schools (NYCPS) with access to state-of-the-art labs, training, new certificate programs, and summer workshops in an effort to grow the future quantum workforce across the city.

“Right now, at subatomic levels that we can only glimpse, new technologies are being developed that will transform how we fight disease, store energy, and exchange information. We want those technologies, investments, and jobs to be created here in New York City - and we want New Yorkers to have a say and a share in their success. With this new quantum lab, we are bringing that vision to life,” said Mayor Mamdani.

“This first-of-its-kind agreement will give the city board seats to shape the future of the quantum industry and a stake in the new technologies that emerge from the lab, making sure that all New Yorkers see the profits and progress from quantum technology, not just the wealthy few. We are building a city where economic justice doesn’t come at the expense of innovation.”

NYU president Linda Mills added: “What will make our new quantum facility truly unique is how connected it will be with the city around it. Through our partnership with the City, thousands of CUNY students will train alongside our NYU students on cutting-edge equipment and build their research careers in one of the fastest-growing scientific fields. New York City-based start-ups and companies will have access to cutting-edge fabrication and materials found in few other cities.”