Mayor Michael R. Bloomberg and Columbia University President Lee C. Bollinger today announced an agreement between the City of New York and Columbia University that will lead to the creation of a new Institute for Data Sciences and Engineering, to be located at Columbia's Morningside Heights and Washington Heights campuses in New York City, and the hiring of dozens of new faculty within the university's Fu Foundation School of Engineering and Applied Sciences. The announcement is the next milestone in the City's groundbreaking Applied Sciences NYC initiative, which seeks to dramatically increase New York City's capacity for applied sciences and engineering while strengthening and transforming the City's economy for generations. As part of the agreement, the City will provide $15 million in critical financial assistance to Columbia—which includes discounted energy transmission costs and partial debt forgiveness—as well as valuable lease flexibility leading to the development of the Institutemoreless
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