Rochester Gas & Electric/ New York State Electric & Gas-New York: Linking Academia and R&D to Grow Bio in the Empire State
Biotech Location Guide 2008
Jim Chinitz, CEO of Population Diagnostics, Inc., an emerging biotech company working on molecular diagnostics and personalized medicine, explains: "For me, the `hidden gem' on Long Island is the pool of talent that is already established right here in our backyard. We are surrounded by world-class scientists from the most prominent institutions and we sit on the doorstep of the NYC financial industry."
Michael Zwick, CEO of AndroBioSys, Inc. in Buffalo attributes his firm's success to state support and vital links with academia and research and development: "We love being a biotech business in New York because of the state's commitment to the industry and the abundant academic resources available for translational research."
In fact, New York State exceeds expectations when it comes to work force development, academia, and R&D. The state invests approximately $3.5 billion annually on academic R&D, second in the nation, and is second in the number of scientists and engineering doctorates awarded, according to the National Science Foundation's Division of Science Resources. There are five biomedical-related Centers for Advanced Technology (CATS) serving upstate and the New York City metropolitan area, and more than 25 R&D facilities sprinkled throughout the state. There are more than eight R&D facilities located in the Capital Region alone. The state also boasts at least 10 bio-related tech parks and incubators, including a high concentration in the New York City-Long Island area and two in western New York.
These thriving bio clusters are found in the pristine mountains of the North Country and the bustle of New York City, and west through the tranquil Finger Lakes to Buffalo. "New York is a fantastic environment - the richness of the state's cultural, scientific, and educational resources, as well as the natural beauty of the state, make it an easy place to attract employees," says Santha Ramakrishnan, director of strategic alliances at Parseon, Inc. in New York City.
Maybe that's why New York leads competitors in drugs and pharmaceuticals, and is ranked first in research, testing, and medical laboratories; it is third in medical device and equipment and agricultural feedstock and chemicals, according to Battelle. In 2006, Business Magazine ranked the state of New York number one in the nation, calling it one of the best locations for growing a biotechnology business.
Local, regional, and state economic developers can assist with a number of incentives and programs, including the Qualified Emerging Technology Company (QETC) tax credits to assist bio businesses. These are aggressive incentives for small startup companies, providing up to $1 million over a four-year period to qualified applicants. For more information on QETCs and other incentives, such as New York's Empire Zone Program, contact the New York State Economic Development Council (NYSEDC), which coordinates NY Loves Bio.
New York's upstate electric and gas utilities play a vital role in helping the growth of existing businesses. New York State Electric and Gas, Rochester Gas and Electric, and National Grid offer aggressive expansion and relocation incentives, and are proud supporters of NY Loves Bio.
Deborah Flack, Marketing Manager
NYSEDC - NY Loves Bio
111 Washington Avenue, 6th Floor
Albany, NY 12210
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