SYRACUSE, N.Y., June 4 /PRNewswire/ -- First-rate talent, topnotch research institutions and well-established industry is the right combination for Central New York “to propel itself into one of the nation’s top centers in biotechnology and life sciences,” according to a study compiled by Moran, Stahl & Boyer, a national site selection and economic development consulting firm.
The research was conducted to help companies choose the best place to locate their biotechnology-related businesses, according to Gregory E. Hitchin, business development manager for the Onondaga County Office of Economic Development. “The evidence speaks for itself,” said Hitchin. “Central New York can be to biotech what Silicon Valley is to IT.”
The study details an amalgam of attributes that make Central New York ripe for emerging and expanding biotech businesses including:
* A solid core of 12 research institutions that include Cornell University, Syracuse University and the State University of New York’s Medical University and College of Environmental Science and Forestry, with biotech/life sciences funding comparable to other top biotech centers. * A strong concentration of established bio-life science companies, including Bristol-Myers Squibb and Welch Allyn, employing thousands in major industry sectors. * A high-quality workforce that has a strong work ethic, low turnover and wages that are very competitive with the rest of the country. * A variety of education resources available for biotech-life science operations that include 14 colleges and universities. Central New York ranks in the top 2 percent nationally in annual biotech related graduates. * Business development resources such as Cornell University’s Center for Advanced Technology in Biotechnology, Syracuse University’s Department of Entrepreneurship and Emerging Enterprises, and, under construction, the Central New York Biotechnology Research Center, which will focus exclusively on new biotechnology venture development.
Additionally, the study indicates that real estate costs in Central New York compare extremely favorably to large and mid-size cities in the northeast and that numerous properties, ranging from 32,000 square feet to 950 acres are currently available for biotech or other related businesses.
Finally, the study details numerous incentives including venture capital funds and a variety of tax credits available through New York State and federal programs.
The study, “Research Profile for Attracting Biotech-Life Sciences Company” is available at the Central New York exhibit, Booth 711, in the New York State Pavilion at BIO 2004, at http://www.syracusecentral.com/ by clicking Market Data, Cluster Analysis, Biotech or by calling, toll-free, 877-797-8222. Greater Syracuse Economic Growth Council
CONTACT: BIO 2004, BOOTH 711, New York State Pavillion: Gregory E.Hitchin, Business Development Manager of Onondaga County Office of Economic Development, BIO 2004, +1-315-427-8583 or +1-315-435-3770
Web site: http://www.syracusecentral.com/