New York City is helping Columbia University to create an Institute for Data Sciences and Engineering.

The plans, announced Monday, are part of the Applied Sciences NYC initiative.

Columbia will contribute at least $80 million in private investment.

The city is chipping in up to $15 million in benefits, including discounted energy transmission costs and partial debt forgiveness.

The institute will be located at Columbia’s Morningside Heights and Washington Heights campuses.

Among other things, the university will hire dozens of new faculty in its Fu Foundation School of Engineering and Applied Sciences.