By  on March 4, 2016

The New York City Economic Development Corp. on Friday launched the NYC Industrial Developer Fund, a $150 million public-private fund to provide project financing for industrial real estate development projects in the city.

The fund is designed to spark investment in 400,000 square feet of new or renovated industrial real estate workspace across the city, supporting the creation of as many as 1,200 industrial jobs by 2020, said NYCEDC , the city’s primary vehicle for promoting economic growth.

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