NEW YORK, April 17 /PRNewswire-FirstCall/ -- The New York Biotechnology Association (NYBA), a not-for-profit trade association dedicated to the development and growth of New York State-based biotechnology related industries, announced that Jack Huttner, Chairman of the NYBA Board and VP, Commercial & Public Affairs at Genencor International, Inc., today addressed more than 500 attendees during the “State of the Industry” address that commenced the NYBA 16th Annual Meeting. In his remarks, Mr. Huttner noted that biotechnology is not only good for New York State, it is thriving and much has been accomplished by NYBA to create and encourage an environment that enables this success by working as a strong voice and skilled advocate for the future of biotechnology across the state. Mr. Huttner initiated NYBA’s 16th Annual Meeting that takes place April 17-18 at the Marriott Marquis Hotel in New York City.
“Biotechnology is an important component of the New York State economy and is one of the country’s centers of the sector,” said Karin Duncker, NYBA’s executive director. “Over the last 16 years we have proudly served the biotech community here in NYS but acknowledge that much more can be done to solidify NY’s position as a biotechnology powerhouse that produces therapies and products that will enhance and even save peoples’ lives.”
Mr. Huttner referenced a series of “wins” that NYBA achieved on behalf of its membership and the NYS biotechnology community at large in its mission to support the development and growth of New York State’s biotechnology industry, and serve its members and the biotechnology community by providing a network for information exchange, shared services, and collective action:
-- Technology Transfer: NYBA has cultivated close relationships with technology transfer officers at all the major research institutions and continues to foster meaningful connections between scientist-entrepreneurs, financiers, and seasoned executives. -- Strong voice in Albany and in Washington D.C.: Last month, NYBA led the New York industry delegation at the annual BIO Fly-in, a program that brings over 1,000 leaders of the national biotech industry to lobby Congress. -- QETC Tax Credits: Enacted last year, this legislation gives Qualified Emerging Technology Companies significant refundable tax credits. It is the first time in the history of the state that biotechnology companies have been eligible for any form of refundable tax credit. -- CAPCO: NYBA was also supportive of an important legislative amendment to an existing tax credit program called CAPCO. In 2004, NYBA helped amend this legislation to add biotechnology companies to the list of businesses eligible for CAPCO investments. -- Empire Zone Program: This critical program allows eligible companies located in Empire Zones to take advantage of significant tax breaks. NYBA helped amend this program to include “Regionally Significant Projects” even if they are outside the geographic boundaries of an Empire Zone and were also able to structure the eligibility requirements to favor biotech enterprises. -- Ongoing Legislative Support: NYBA is currently tracking more than 50 pieces of legislation in the effort to promote and/or defeat legislation to best serve the biotechnology community.
Mr. Huttner also provided details on NYBA’s two-year strategic plan that was created In an effort to continue strengthening the state’s competitiveness as a premier biotechnology leader and to ensure the highest return on investments of time and resources. Following are highlights on the plan from his remarks:
-- The “new” NYBA resulting from successful completion of the 2005-2007 strategic plan will narrow the organization’s focus and hone operations to its most effective end. That means identifying opportunities of high impact, prioritizing activities, and vigorously soliciting input and participation from members, regional industry groups, as well as the biotechnology leaders in bordering states. A key priority is to spend more time and resources serving the needs of members and in turn increasing value to them. -- NYBA has created Functional Peer Groups to broaden its reach into the various management levels of member companies and have convened intimate roundtable discussions of these groups. These peer groups facilitate outreach and build advocacy as well as serving as an effective recruitment tool for new members. -- NYBA is intensifying its relationship building by working with regional groups to establish a regional association “council” -- The New York Bioscience Alliance. In addition, NYBA is exploring opportunities with state biotech associations in New Jersey and Pennsylvania, focusing on the assets of the Tri-State region. -- Lastly, NYBA is enthusiastically committed to communicating its value more effectively and ultimately growing its base of funding for programs and operations.
NYBA’s annual two-day meeting has brought together leaders in the biotechnology community to examine and discuss issues vital to the industry from a financial, public policy, research and business development perspective. More than 500 scientists, medical researchers, biotechnology business executives, investors, policy makers and journalists have convened for NYBA’s 16th annual meeting. For an archived transcript of Jack Huttner’s speech and information about other meeting presentations, please visit the NYBA website: http://www.nyba.org .
About NYBA
NYBA is the leading advocate for advancing the success of the biotechnology industry in New York State and is its main representative to policy makers, the media and the communities in which we work. Our mission is to support the development and growth of New York’s biotechnology industry, and serve our members and the biotechnology community by providing a network for information exchange, shared services and collective action. NYBA’s membership comprises over 250 bioscience companies, world-class research institutions and related professional services. Under the banner of The Cures Start Here(R), our goal is to amplify the success New York has had and continues to have in discovering major medical advances and growing a vibrant biotech industry. For more information on NYBA programs and initiatives, visit our website at http://www.nyba.org .
New York Biotechnology Association
CONTACT: Karin Duncker of NYBA, +1-212-332-4395, kduncker@nyba.org
Web site: http://www.nyba.org/
