Newlab Economic Impact Assessment

BJH quantified the economic impact of Newlab’s operations at the Green Manufacturing Building in the Brooklyn Navy Yard and at Michigan Central in Detroit, drawing on ten years of activity in New York and three years in Michigan. BJH Advisors used IMPLAN multipliers and detailed NAICS-level data to estimate the direct, indirect, and induced economic impacts – including jobs, wages, and total output – generated by Newlab's incubation programs, tenant companies, shared research facilities, workforce training, and partnership activities. The analysis covered economic and fiscal impacts in New York City, New York State, Detroit, and Michigan, and was submitted to Newlab in a report featuring engaging data visualization. Newlab is using this report to support engagement with funding partners and stakeholders.