NYU and New York City announce $284 million quantum lab

New York City and New York University (NYU) have announced a $284 million public-private partnership to establish the Quantum Fabrication Facility (QFab) at 770 Broadway in Manhattan. The city will invest approximately $29.2 million, while NYU will contribute $255 million to cover construction and ten years of operations.

Scheduled to open in 2030, the 23,000-square-foot lab aims to support over 100 companies and incubate approximately 50 startups. The facility will provide researchers and businesses with specialized equipment to build and test quantum devices. Additionally, the project includes educational initiatives, such as CUNY certificate programs for technicians and internships for public school students.

As part of the agreement, the city will receive a 15 percent stake in proceeds from intellectual property created at the lab using city-funded tools, including royalties, licenses, and equity. The city will also hold three seats on the QFab Executive Advisory Board to oversee the partnership.