Media Research Centre Planned for New York

New York Mayor Michael Bloomberg has outlined plans to bolster the media sector, which include the launch of a research center where media companies, universities and others will be able to collaborate on research and share findings.

The MediaNYC 2020 program has been formed with input from Bloomberg's administration, City officials and industry leaders from print, TV and Internet media, in order to develop a strategy to maintain and enhance New York City's position as a global media capital.

As well as providing a center for collaborative research, insight and education programs, The New York City Media Lab will also offer facilities for networking, lectures and workshops.

NYC's Economic Development Corporation plans to release a request for proposals this month, to select partners to develop the lab, which is expected to open next January.

Other initiatives include the launch of a Media and Tech Fellowship program, to facilitate media start-ups and other entrepreneurial activity; and a workspace center for media freelancers.

In addition, tax exempt bonds will be introduced to enable companies to invest in manufacturing, research, production and technological equipment. The bonds will be used to finance projects costing $1m to $10m.

The program is estimated to generate 8,000 extra media jobs in New York over the next ten years.

'New York City is the media capital of the world, but with the industry undergoing profound changes it's incumbent on us to take steps now to capitalize on growth opportunities and ensure we remain an industry leader,' Bloomberg said in a statement.

NYC's media industry employs more than 300,000 people, nearly 10% of the city's private workforce, and accounts for $30bn in annual revenue.

A new MediaNYC 2020 web site is under development where Bloomberg hopes media workers will interact - www.MediaNYC2020.com .