Public Policy Institute Releases Report on New York’s Bioscience Sector
Buffalo-Rochester Region Called Premier Bioscience Cluster
BUFFALO, N.Y. (6/26/2012) — The Public Policy Institute (PPI), the research arm of The Business Council of New York State, today released in Western New York a comprehensive study on the job creation capabilities of the state’s bioscience sector.
The report, entitled Cultivating the Next Generation of Discoveries and Development in New York Bioscience,cites the potential of a Buffalo-Rochester bioscience cluster.
Heather Briccetti, President and CEO of The Business Council of New York State, said: “Thanks to extraordinary research facilities such as Roswell Park Cancer Institute and promising high-tech startups, Western New York has all of the components to be a world leader in bioscience. What is missing, however, is a full appreciation of the extraordinary assets that exist in the region and a comprehensive plan to help promote them.”
Briccetti was joined at a news conference by Roswell Park officials, biotech industry officials and state lawmakers.
James L. Mohler, MD, Senior Vice President for Translational Research at Roswell Park, said: “As a clinician, researcher and entrepreneur I can say firsthand that the effective promotion of the bioscience sector and the common sense measures recommended in the report would yield tremendous benefits for both healthcare and the regional economy.”
John Jennings, Representative for New York Biotechnology Association, said: “As the PPI report notes, the bio-pharm sector is extremely competitive. Our hope is that this report will encourage state policymakers to see the great potential of the sector and the imperative of investing it.”
Western New York companies profiled in the report include: Kinex Pharmaceuticals; OyaGen in Rochester; and SmartPill in Buffalo.
The report urges state policymakers to take the following actions:
- Create a Governor’s Council to spearhead development and marketing of the state’s bioscience industry;
- Establish a Small Business Innovation Research matching grant program for bioscience companies as well as a dedicated Biosciences Commercialization Fund; and,
- Increase the amount of affordable incubator and lab space for startups and early-stage bioscience companies.
The PPI report noted that the bioscience industry supports a total of 250,000 jobs – including 66,568 in the industry itself – in New York State, generating $5.3 billion in wages and $309 million in state income taxes.
The Public Policy Institute of New York State, Inc. is a research and educational organization whose purpose is to formulate and promote public policies that will restore New York's economic competitiveness. The Institute accomplishes this mission by conducting timely, in-depth research addressing key state policy issues. Founded in 1981 and affiliated with The Business Council of New York State, Inc., The Institute is a non-partisan, tax-exempt, 501 (c) (3) organization. The Institute depends on the support of corporations, individuals, and foundations for its income, and does not accept any government funding.