New York City Mayor Zohran Kwame Mamdani, Deputy Mayor Julie Su, and New York City Economic Development Corporation (NYCEDC) President & CEO Anthony Shorris have announced a $29.2 million municipal grant to New York University (NYU) to establish the Quantum Fabrication Facility (QFab). The public grant is paired with a $255 million commitment from NYU covering construction and 10 years of operational funding, bringing the total initiative to $284 million.
Scheduled to open in 2030, the 23,000-square-foot facility will be located at 770 Broadway in Manhattan. QFab will feature specialized cleanrooms, cryogenic testbeds, and advanced manufacturing equipment to fabricate, test, and prototype quantum chips and components. Over its first decade of operations, the facility is projected to incubate 50 new startups, provide specialized fabrication services to 50 additional companies, and support CUNY and NYC Public Schools workforce development programs.
| [ QFab Funding & Governance Breakdown ] | ||
|---|---|---|
| Capital Source / Term | Financial Allocation | Public Equity & Governance Structure |
| • New York City (NYCEDC) Grant | • $29.2 Million | • Secures 3 seats on the QFab Executive Advisory Board and a 15% city equity/royalty stake in generated IP. |
| • New York University Commitment | • $255.0 Million | • Covers facility construction at 770 Broadway and 10 years of baseline operational funding. |
| • Federal & State Backing | • Federal Equipment Grants | • Supported by U.S. Senator Chuck Schumer to fund state-of-the-art quantum equipment acquisitions. |
The financing agreement introduces a novel public-equity economic model for municipal tech investments. In exchange for municipal funding, New York City will hold three seats on the QFab Executive Advisory Board. Additionally, the city will receive a 15% share of NYU Central Administration’s proceeds—including equity, patent licensing, milestone payments, and royalties—resulting from intellectual property created using city-funded equipment.
QFab will also serve as a regional workforce engine through partnerships with CUNY and NYC Public Schools, launching new technician certificate programs, VR training labs, and undergraduate and graduate research pipelines.
Review the official municipal announcement on the NYC Government Portal here and examine institutional details on the NYU Newsroom here.
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