New York metro area ranked # 1 in bioscience employment
(Source: Battelle/BIO State Bioscience Initiatives 2010)
The region’s academic assets are largely concentrated in New York City. Major publicly-traded biopharma companies include Bristol Myers Squibb, Eli Lilly/ImClone Systems, OSI Pharmaceuticals, Pfizer and Regeneron..
Today, plans are moving forward in several locations to provide upwards of 2 million square feet to house:
- Headquarters of growing companies with manufacturing operations in other parts of the region
- Divisions of established multi-national companies and institutional research programs
- Young companies established by scientists from the region’s top institutions
The Partnership for New York City and its investment affiliate, the New York City Investment Fund, are providing seed capital through a $115 million fund and real estate development expertise in support of these projects. The Academic Medicine Development Co. (AMDeC) will mobilize the resources of the region’s academic community to further promote the expansion of the bioscience community.
The BioAccelerate NYC Prize is a competition whose goal is to catalyze the creation of a life sciences industry sector in the city by increasing the number of commercial spin-offs. The New York City Investment Fund has committed up to $5 million dollars to fund late-stage, “proof-of-concept” research at New York’s universities.