New York City wants to be a global center for the cybersecurity industry.

The NYC Economic Development Corporation announced plans for a $30 million investment of city funds, coupled with up to $70 million in private investment, that it says could help create up to 10,000 good-paying jobs in the city.

“Cybersecurity has never been more important to the pillars of New York’s economy–sectors like finance, healthcare, media, and technology–and it will only grow more crucial,” said Manhattan Borough president Gale A. Brewer in a statement. “You only have to open a newspaper to see how vast the need for cybersecurity is today. Investing in this industry is timely, it plays to New York’s strengths, and it will deliver a real return.”

Among the city’s plans for the initiative: