Downtown Brooklyn, a college town?
According to a study conducted by the Downtown Brooklyn Partnership, the neighborhood’s economic flow has been significantly bolstered by activity from its nine higher education institutions.
The nine schools, which are densely packed into the neighborhood, include Pratt Institute, Brooklyn Law School, St. Francis College, and NYU, among others. Carnegie Mellon will bring that number to 10 once it has completed its expansion to the Navy Yard next fall. NYU is planning to further expand into the modernist building at 370 Jay Street.
In 2013 alone, the roughly 60,000 students in attendance at the colleges and graduate programs downtown generated nearly $3 billion in economic activity for the area. The largest portion of the sum came from a calculated $1 billion in labor compensation — a.k.a. jobs — according to the study’s findings.