New York - Top Five Regions Targeting Biotech, 2008
New York follows the California model
New York is one of those states that never quite measured up to its potential. With a host of top researchers at places like Columbia University Medical Center, Memorial Sloan Kettering and Cornell, there was never any shortage of brainpower. But the biotech industry--made up of the classic, early-stage developer with a thin pipeline and expansive hopes--has never flourished there.
To give itself a leg up, New York did what other states talked about, approving $600 million to back local embryonic and adult stem cell research projects. At the beginning of this year, the state handed out the first $14.5 million in grants for equipment and training in stem cell research. Like California, New York lawmakers are muscling in to support research work in a field that the federal government has shied away from. And whenever the state touts its new program, officials are always quick to point out that they’re now number two--just behind California--in supporting stem cell research work.
New York hopes its R&D program will provide the seeds for a new generation of biotech companies. What is certain is that even as the feds keep the lid on funds for biomedical research at the National Institutes of Health, states like New York continue to fill a crucial gap.
Comments
By Cognate Consultants LLC | Posted 5:38pm | February 26, 2008
Although considering NY separately in terms of geography it's difficult to separate NY, NJ and PA. This are within a 50-75 mile radius needs to be considered collectively when compared to California and Massachussettsthe historic powerhouses of biotech. Couple this with the concentration of academics and large pharma, I think it's difficult to argue the area not being in the top 3 if not number 1.
By Operations Concepts Inc. | Posted 11:33am | November 13, 2008
Aggressively marketing the NYC metro area as a future Biotech marketplace is a waste of taxpayer money. NYC is already trying to figure out what to do about cargo/rail/truck traffic, automobiles and mass transit shortfalls, and even more important...fresh drinking water for the next twenty five years. NY state is currently spending millions to promote and market the Albany region as the future Nanotechnology marketplace. Why NY state and the City of New York cannot find a common ground, such as the very ill Syracuse or Utica area of the state for future growth, is mind boggling.
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