Bioscience Garners $50 Million in New York Regional Economic Development Competition

Bioscience Garners $50 Million in New York Regional Economic Development Competition

NEW YORK, Dec 12, 2011 (BUSINESS WIRE) -- New York State will invest some $50 million in the biosciences through the Regional Economic Development Council Initiative with projects in nearly every region, according to an analysis by the New York Biotechnology Association (NYBA). The awards were announced on Thursday in Albany. The funds will include support for projects as diverse as a bioscience incubator in Westchester County to a biomass electric plant in the Mohawk Valley. Together, the projects total over $49.7 million in new investment.

"We are very excited that New York, recognizing the value of a robust bioscience industry, is investing in the biosciences, one of the state's leading growth areas. These investments will enable further growth in a field that supports some 250,000 direct, indirect and induced jobs, and contributes over $32 billion a year to the state's economic output," said Nathan Tinker, Executive Director of NYBA.

"NYBA worked closely with Regional Councils across the state to identify and support projects that would create jobs and continue to nurture New York's growing bioscience industry," continued Nathan Tinker, "and we actively advocated for this funding. We encourage the State to continue to invest in the biosciences, a sector that creates jobs; develops important products in bio-pharmaceuticals, agriculture, and industry; and drives economic development."

Projects selected for funding include:

WESTERN NEW YORK $9.6M

-- $5.1 million will support the Roswell Park Cancer Institute Genome project to build a robust approach to personalized medicine.

-- $500,000 will enable the Hauptman-Woodward Crystallization Laboratory's expansion of its crystallization laboratory biotech services.

-- $4 million for development of the Jacobs Institute Center for Innovation in Medicine, a state-of-the-art medical device prototyping facility at the Buffalo Niagara Medical Campus.

FINGER LAKES $13.5M

-- $5 million will help expand a partnership between the University of Rochester and IBM and will support a new Health Sciences Center for Computational Innovation.

-- $7 million to support the Seneca AgBio Green Energy Park for renewable energy, enhanced agriculture and environmental sustainability.

-- $1.5 million will be used for advanced manufacturing projects, including establishing a new facility that will manufacture sustainable bio-composite products that replace high-volume wood/wood composite materials.

CENTRAL NEW YORK $5.6M

-- $2 million will enable completion of the Central New York Biotechnology Research Center.

-- $3.6 million will enable the BioTech Park at Kennedy Square in Onondaga County.

NORTH COUNTRY $1.2M

-- $1.2 million will support the Trudeau Institute's Saranac Lake research campus to modernize laboratory medical facilities and hire scientists to explore disease protection techniques.

MOHAWK VALLEY $1.5M

-- $1.5 million will construct a bioenergy plant that will generate steam and electricity.

CAPITAL REGION $3.95M

-- $950,000 will create the New York Capital Research Alliance, which is aimed at leveraging the region's expertise in biotechnology, nano-biomedicine and biomedical science.

-- $2.0 million in support of the RNA Institute for Biomedical Translational Research.

-- $1.0 million in support of development of the Biotechnology Training Center and expansion of the Capital Region Biotechnology Corridor.

MID-HUDSON VALLEY $4.95M

-- $4 million will develop the Biotech Incubator Center for Advanced Research (iBio) at New York Medical College.

-- $953,000 to expand manufacturing facility for manufacturer of quality generic liquid pharmaceutical products at Silarx.

LONG ISLAND $7.4M

-- $2 million will enhance construction of a new cancer drug testing facility at the Cold Spring Harbor Laboratory.

-- $3 million will expand Amneal Pharmaceuticals' facility to retain and create critical high-tech jobs and partnerships with research institutions.

-- $2.4 million to support the purchase of new machinery and equipment in development of low-cost generic pharmaceuticals at Sciegen Pharmaceuticals.

SOUTHERN TIER $2.0M

-- $2.0 million to support several phases designed to increase both the company's manufacturing and R&D capabilities and capacities at Norwich Pharmaceuticals.

For more information go to www.nyba.org or contact Nathan Tinker, NYBA Executive Director, at 631-444-8895.

About NYBA

NYBA is the leading advocate for advancing the success of the life science industry in New York State and is its main representative to state policy makers, the media and communities. NYBA's mission is to support the development and growth of New York's life science industry, and serve our members and the life science community by providing a network for information exchange, shared services and collective action. NYBA's membership comprises bioscience companies, world-class research institutions and related professional services. Under the banner of The Cures Start Here(R), the Association's goal is to amplify the success New York has had and continues to have in growing a vibrant life science industry.

SOURCE: New York Biotechnology Association

 

Read more on