NYC government plans to create 16,000 jobs in life sciences

NYC government plans to create 16,000 jobs in life sciencesThe city government of New York is planning to significantly increase investment in the life sciences industry and create 16,000 jobs, New York Business Journal reported.

Mayor Bill de Blasio┬árecently announced that up to $500 million would be put toward adding jobs in life sciences in New York City through the “LifeSci NYC” program.

The new jobs will span a range of fields within the industry, including vaccine development as well as biotch software design, according to the source. In addition to the direct positions created, 7,000 jobs will be added indirectly in support areas while 7,400 will be gained in construction. Life sciences students will also benefit from 1,000 new paid internships.

“We are creating a springboard into the innovative Life Science economy for our workers, innovators, and startup businesses that will make our whole economy stronger,” said de Blasio in a statement.

A report on the life sciences industry in New York City by CBRE noted that the metropolitan center is a prime location for the field to flourish, thanks to its availability of commercial laboratories and premier universities and medical and research centers.

The Department of Labor forecast that the number of life sciences employees in the U.S. would grow 20 percent by 2020, the report noted.