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New York's Roosevelt Island to get technology campus

26 June 2012 Last updated at 18:34 BST

Cornell University plans to build a high-tech research centre on New York City's Roosevelt Island, a piece of land in the East River that has been used in the past to house the mentally ill.

Seth Pinsky of the New York City Economic Development Corp says he hopes the campus will help grow the local economy and reduce the city's dependence on Wall Street as a source for business growth.