The Associated Press July 19, 2011, 2:29PM ET

NYC fires shot at Silicon Valley tech dominance

Mayor Michael Bloomberg is firing a shot across the bow of Silicon Valley, saying he wants New York City to surpass the California region as the world capital of technology startup.

Bloomberg says the city plans to offer nearly-free real estate and up to $100 million in infrastructure upgrades to a university that commits to creating a world-class science and engineering campus.

The request for proposals was issued Tuesday. Stanford and Cornell universities and schools in Finland, India, Switzerland and Korea have expressed interest in the deal.

Bloomberg says a school could help launch 400 companies and 22,000 permanent local jobs in three decades.

Bloomberg's remarks were prepared for delivery at a business conference.


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