State Makes $50M New Haven Innovation Investment

The Lamont administration announced a $50.5 million investment in downtown New Haven Sept. 26 aimed at growing the region’s life sciences and quantum technologies industries.

Gov. Ned Lamont said the investment lays the groundwork for new innovation and business and job growth.

“Every day in downtown New Haven, workers are developing the cutting-edge research, technologies, and products that are changing the world,” he said.

“We want to build on this foundation, encourage new growth, and further cement New Haven’s reputation as a groundbreaker in these sectors.”

The funding is part of the first grant from the Connecticut Innovation Clusters Program.

Supporting Innovation

The $100 million program—administered by the Department of Economic and Community Development—supports growth in key industries including biotechnology, financial technology, insurance technology, and advanced manufacturing.

“The strategic value of this investment is enormous,” said DECD commissioner Dan O’Keefe.

“Supercharging our life sciences and innovation capacity will have far-reaching positive impacts on the state’s ability to attract new talent, investment, and companies, as well as strengthen our overall competitiveness.”

“The strategic value of this investment is enormous.”

DECD’s Dan O’Keefe

The $50.5 million investment in New Haven includes:

• $1.3 million for a New Haven Innovation Center—a 4,500 square foot early start activation space within 101 College Street
• $32 million in public infrastructure improvements and financing to facilitate the development of the former New Haven Coliseum site and Parcel B, created after the removal of the Route 34 expressway
• $4.2 million for a new pedestrian corridor connection Union Station to downtown and the Hill neighborhoods
• $3 million to BioCT for programming bringing together civic, academic, and business partners in the area
• $10 million to support QuantumCT, a public-private partnership created to drive quantum computing technologies

Collaborative Efforts

Led by Yale University and UConn, QuantumCT also includes a coalition of public and private partners including CBIA.

“Being selected for the Innovation Clusters Program affirms the central role QuantumCT will play in shaping Connecticut’s future economy,” said QuantumCT CEO Albert Green.

“By bringing together universities, companies, and investors, we are creating the infrastructure, talent pipeline, and partnerships needed to make Connecticut the place where next-generation industries take root and grow.”

The organization recently advanced to the final stage of a National Science Foundation competition that could result in awards of up to $160 million.

“Collaborative efforts like this are what helps states succeed.”

CBIA’s Chris Davis

“Collaborative efforts like this by business, academic institutions, and state and local government are what helps states succeed,” said CBIA vice president of public policy Chris Davis.

“Investing in bioscience and quantum technology not only help expand the New Haven and state economy today but position the state to be a leader in these critical industries for years to come.”

The Lamont administration said the industry cluster will also complement other state investments in the area including support for brownfield redevelopment, housing investments, and transportation improvements.

“These targeted investments in the downtown neighborhood’s public infrastructure and facilities will enable us to further partner with these businesses and accelerate job growth and more opportunities here in Connecticut,” Lamont said.