Mayor, Governor announce details of $1.6 billion Kips Bay life sciences hub

Mayor Eric Adams and Gov. Kathy Hochul on Friday released new details about the planned SPARC Kips Bay Project — a massive campus designed to lure investment from the life science, healthcare, and academic industries. 

As the first-of-its-kind job and education hub for the health sector, the Science Park and Research Campus (SPARC) Kips Bay project will cost the city $1.6 billion, with another $2 billion in private investment, and is expected to generate $42 billion in economic impact over the next 30 years, according to the mayor.