State Senators Want To Bring $2.3B In Funding To Brooklyn Tech Industry

State Senators Want To Bring $2.3B In Funding To Brooklyn Tech Industry

Despite its gender equality woes, the Brooklyn tech industry is booming. In fact, Brooklyn’s economy is the fastest growing economy in the city and that’s due in no small part to our tech triangle. Everyone is celebrating that these days, especially the kids in Albany. And at the moment, several politicians are working to imbue the Brooklyn tech industry with $2.3 billion in grants.

According to Brooklyn Eagle, Senator Kirsten Gillebrand, Congressman Hakeem Jeffries, state Sen. Velmanette Montgomery and Borough President Eric Adams are supporting a new federal bill called the TRANSFER Act that would transfer $2.3 billion in funding set aside for research programs in New York to small businesses and tech companies in Brooklyn. The funds would be used to hopefully create more jobs in Brooklyn’s section of Silicon Alley.

If the bill passes, it will not only help fund tech companies, but also establish a highly-competitive grant program allowing certain companies to get up to $3 million in funding through programs in the Department of Defense, Department of Health, Human Services and Energy, National Science Foundation and NASA.

The plan is laid. Now, it’s just up to the U.S. Congress to pass it. Good luck with that.

Follow Nikita Richardson on Twitter @nikitarbk

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