• Scientific Talent: The NYC Metro Area has the largest bioscience workforce in the country, according to a recent Battelle study
• Research: $1.3 billion in NIH awards – NYC is ranked #2 in the nation
• City of Science: NYC has the world’s largest concentration of academic institutions with nine major academic medical centers including Columbia University, Weill Cornell Medical College, NYU, Albert Einstein College of Medicine, and The Rockefeller University
• Existing Bioscience Cluster: Over 120 bioscience companies

New York City is a center of finance -- there are 134 Venture Capital firms investing in life science companies at all stages.

New York City has the most developed medical infrastructure in the United States, with 58 hospitals including the Hospital for Special Surgery, Memorial Sloan-Kettering Cancer Center, and New York-Presbyterian Hospital.

New York City receives annually $1.3 billion in NIH funding, second in the country.

New York City led all cities in the country in NIH funding for Universities and Colleges, receiving more than $1 billion in grants during fiscal year 2007. If New York City’s institutions of higher education were a city unto themselves, they would rank 3rd behind New York City among recipients of NIH funding, and ahead of Philadelphia, Baltimore, and Seattle.

The New York metro region has more bioscience employees than any other metropolitan area in the US, according to a study by Battelle

• NYC’s academic institutions produce an average of 20 start-up companies per year. 
• Major publicly-traded biopharma companies include Bristol Myers Squibb, ImClone Systems, Pfizer and Forest Laboratories

East River Science Park (ERSP)
Construction on the City’s first major bioscience office park is underway and will provide laboratory and office space for bioscience companies, beginning in  2010. The Alexandria Center for Science and Technology at ERSP is a state-of-the-art research and development campus that will be the flagship location for future bioscience expansion in New York City.

Strategically located along Manhattan's East Side Medical Corridor, The Alexandria Center™ will capitalize on its proximity to the City's top academic/medical institutions and major hospitals while providing a 1.1 million square foot campus of first-class office/laboratory space designed to foster cross-institutional collaboration by intersecting unique networking environments, innovative laboratories, and premier office spaces with spectacular East River views.

The Alexandria Center for Science and Technology

Mayor Bloomberg Announces Anchor Tenant At East River Science Park

Brooklyn Army Terminal
Once developed, the proposed bioscience facilities of BAT will offer space for research, laboratory and bio-manufacturing uses. Located along the Brooklyn waterfront with easy access to Manhattan, Phase I at BAT will be anchored by several academic research and commercial bioscience operations.

Eli Lilly and Company
NYCEDC’s efforts help lead Eli Lilly to sign a long-term lease to occupy more than 90,000 square feet for a new oncology research headquarters for its subsidiary ImClone Systems.

$5M Fund Launched to Spur Bioscience Startups  
The city's Economic Development Corp. and the New York City Investment Fund have teamed up on an initiative to fund biomedical research that has advanced beyond academic institutions, but is not yet ready to attract private funding.

Lilly CEO Bets on NYC For R&D  
On July 22, Eli Lilly CEO John Lechleiter announced that his company would be the anchor tenant at New York City’s brand new biotech research center, called East River Science Park.

New East River Science Park Signs First Tenant  
Pharmaceutical giant Eli Lilly and Company has signed on to become the first tenant of the new commercial bioscience development that is slated to open in the summer of 2010 in Manhattan.

ImClone Leases Space at NYC Bioscience Center
Eli Lilly subsidiary will be the first tenant at the East Side complex to be completed in 2010.  

Lilly’s ImClone Makes NYC Its Home Base
Yet another Pharma firm is going to be calling new york city home. Late last month, lilly announced that it would lease space at the Alexandria Center, to house the new research headquarters for ImClone systems.

Global Biopharmaceutical Company is First Signed Tenant of New York City's New State-of-the-art Commercial Bioscience Complex
ImClone will locate its research headquarters at New York City’s new Alexandria Center for Science and Technology at the East River Science Park.

Mayor Bloomberg, Governor Paterson, Speaker Silver, Eli Lilly and Company and Alexandria Real Estate Equities Announce ImClone will Locate its Research Headquarters at East River Science Park
ImClone, a global biopharmaceutical subsidiary of Eli Lilly and Company, will be the anchor tenant for the new state-of-the-art commercial bioscience complex on Manhattan’s East Side.

East River Science Park Has its First Tenant
The developer of East River Science Park has signed a lease with ImClone Systems, a biotechnology company and the first tenant for the much ballyhooed $700 million biological science complex along First Avenue, between 28th and 30th Streets, according to real estate and development executives.

East River Science Park Gains Anchor Tenant
Eli Lilly becomes the anchor tenant in the first tower of the East River Science Park.

Eli Lilly's ImClone Signs 15-Year Lease To Be Anchor Tenant At New York's east River Science Park
Eli Lilly this week signed a lease to become the anchor tenant at the Science and Technology Center at East River Science Park in New York City.

East River Science Complex Gains New Tenant
Mayor Michael Bloomberg, joined by City Council Speaker Christine Quinn and other officials, announced the first tenant in the Alexandria Center for Science and Technology at the East River Science Park.

Genzyme Finds No Place Like Home
After extensively exploring its options for new office space in three different boroughs, Genzyme decided to stay put in midtown.

 More News >

New York City Incentives

BioAccelerate NYC Prize 
The BioAccelerate Prize is a citywide competition that will provide funding for biomedical translational research.  Between three and five winners will each receive up to $250,000.  Contact Jahan Ali at 212-493-7595 / jali@nycif.org.

NYC Biotech Tax Credit  
The New York City Council has introduced legislation to create a new Biotech tax credit for small biotech companies to accelerate their commercialization efforts by providing a refundable tax credit for facilities, operations, and training.  Contact Raymond Majewski at / finmajew@council.nyc.gov.

New York City Investment Fund 
An investment fund of more than $100 million, NYCIF invests in internet and technology companies. It is run by a network of top experts from the investment and corporate communities, who help identify and support New York City's most promising entrepreneurs.   Contact Maria Gotsch at MGotsch@nycif.org.

East River Science Park Lab Space Loan Fund 
The NYC Investment Fund has created a new $15 million loan program that is available for bioscience companies looking to establish headquarters and principal operations at the Alexandria Center for Science and Technology at the East River Science Park in Manhattan.  Contact Maria Gotsch at MGotsch@nycif.org.

NYC Capital Access Loan Program
The NYC Capital Access Loan program provides micro and small business owners and lenders a streamlined method to obtain up to a 40% guarantee for qualified loans and lines of credit up to $250,000. The program uses an expedited eligibility review by having lenders use their own credit decision process and loan documentation.

New York State Incentives

Centers for Advance Technology
Centers for Advanced Technology (CAT) support university-industry collaborative research and technology transfer in commercial relevant technologies.  Contact Jim Roberts at 518-292-5700 / jroberts@nystar.state.ny.us.

New York State Qualified Emerging Technology Company Credit (QETC)
QETC program could provide early-stage technology companies, including biotechnology, with a capital infusion of up to $1MM.  Contact George LaPointe at 518.292.5307 / glapointe@empire.state.ny.us.

Empire Zone
Provides New York State tax credits and tax exemptions to manufacturing and biotech firms that are located in an Empire Zone, and that are growing employment and investing in real estate and equipment.  Early stage firms with little or no NY State tax obligation may be eligible for refundable tax credits.  NYC’s primary biotech real estate, the Alexandria Center for Science and Technology at East River Science Park (ERSP) and the Brooklyn Army Terminal (BAT), are located in Empire Zones.  To learn more about the certification process at ERSP, contact Hally Chu (hally@aafecdf.org) at the Renaissance Economic Development Corporation and Jared Walkowitz at (212) 618-8863 / JWalkowitz@sbs.nyc.gov  for BAT.  

Federal Programs

SBIR/STTR
A federal set-aside program for domestic small business concerns to engage in Research/Research and Development that has the potential for commercialization. 

NYCEDC’s bioscience team will help you navigate all aspects of NYC business. For more information, please contact:

Lenzie Harcum
Vice President, Healthcare & Biosciences
lharcum@nycedc.com
(212) 312-3806

Joseph Fonte
Project Manager
jfonte@nycedc.com
(212) 618-5769