(Save the date: RealShare New York comes to the Grand Hyatt, New York, NY, October 9.)

NEW YORK CITY-Taking yet another step toward its goal of developing new spaces for high technology and innovation, the City of New York is partnering with Columbia University to create a new institute for data sciences and engineering at the school’s Morningside Heights and Washington Heights campuses, officials said at a press conference this morning. Under the agreement, the city and the university plan to create 44,000 square feet of space for the program and add 75 new facility members over the next decade and a half.

The plan – which falls under the Bloomberg administration’s Applied Sciences NYC initiative – is the latest milestone in the city’s long-term agenda to diversify the economy and dramatically increase New York’s capacity as a hub for science and engineering.