Google is donating 22,000 sq ft of NYC office space to Cornell University and Technion-Israel Institute of Technology for the next 5 years, while the CornellNYC Tech Campus is built on Randall's Island. Mayor Bloomberg, who led the Tech Campus initiative, believes it will generate as many as 600 spinoff companies and $23 billion in economic activity. The Tech Campus hopes to lure the best and the brightest to NYC.
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