The Empire State Development Corporation has awarded Pratt Institute at $500,000 grant through the Regional Economic Development Council as part of a series of awards for job-creation prospects in Brooklyn. The grant will support the expansion of the Pratt Design Incubator for Sustainable Innovation.
"Pratt Institute is grateful to New York State Senators Martin Golden and Dean Skelos, and the entire Regional Economic Development Council for this exceptional grant, which will allow the Design Incubator to extend its highly successful business development model," said Pratt President Thomas F. Schutte. "As an organization that has both helped to foster and benefited from the Brooklyn renaissance of recent years, Pratt also deeply appreciates Governor Cuomo's and Lieutenant Governor Duffy's foresight in launching the Regional Economic Development Council to promote the borough's continued economic growth and prosperity."
Established in 2002, the Pratt Design Incubator for Sustainable Innovation helps to launch sustainably focused business enterprises and is based in the Brooklyn Navy Yard. Since its inception, it has helped launch over 25 businesses in clean-tech, social innovation, fashion design, design consulting, furniture design, and product design.
The businesses collectively support 60 jobs and $4 million in revenue per year. In March 2012 the Pratt Design Incubator, which is a part of the Center for Sustainable Design Studies at Pratt Institute, was cited in the Center for the Urban Future report "Designing New York's Future," as a prime example of an initiative that fuels new businesses and spurs economic growth.