New York Governor Proposes $600 Million Challenge Fund for Biotech Research

At this time of year, our governors read state-of-state speeches, to tout previous achievements and set the rudder for the future.

On Wednesday, New York Gov. George E. Pataki (R) delivered this annual speech to start the final year of his 12 years in office.

For the New Biology Economy, Pataki proposed enhancing the state's five Centers of Excellence by providing business tax incentives and links to new public math and science high schools.

New York has five Centers of Excellence statewide including: the Albany Center of Excellence in Nanoelectronics, the Syracuse Center of Excellence in Environmental and Energy Systems, the Rochester Center of Excellence in Photonics and Microsystems, the Buffalo Center of Excellence in Bioinformatics and Life Sciences, and the Long Island Center of Excellence in Wireless and Information Technology.

While four of these centers of excellence are located in economically depressed areas of the state, the governor offered encouragement for urban biotech by proposing a $600 million fund of public and private monies to foster biotech research. “In New York City, home to some of the best research hospitals in the world, let's expand our efforts to keep New York at the forefront of the current revolution in biomed and biotech research,” he said.

Read previous New Biology Economy coverage of biotech in New York:

New York City Takes Big Step Into Biotech With Developer for East River Science Park, Aug. 11, 2005

Skolnick Bags Buffalo, Heads to Atlanta, Dec. 15, 2005

New York Startup Targets Faster PCR Amplification, Nov. 22, 2005

IBM and Three Institutes Ink Cancer Research IT Pacts Nov. 09, 2005