December 22, 2012

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iBio-NY launched at New York Medical College

VALHALLA – The first phase of a biotechnology incubator at New York Medical College’s Valhalla campus was launched on Friday. This is the first phase of iBio-NY construction, which when completed is expected to create 140 full-time jobs and an additional 75 part-time jobs in the region and give a boost to the biotechnology industry in the area.

State Empire State Development Corporation President Kenneth Adams said the facility will eventually conduct research and development of vaccines to fight illness as well as bio and chemical terrorism.

“Just a few years ago you would have said that bio-tech was an industry in Boston, in Austin, Texas, in San Diego, California, North Carolina, and most folks wouldn’t have mentioned the Hudson Valley”, Adams said.  “But, today you can clearly say because of the growth of Regeneron and other companies in the area, and then this new iBio-NY incubator at New York Medical College, there is this growing sector of bio-tech companies in the Lower Hudson Valley.”

The incubator will be housed in a renovated facility that will also house a regional biotech business training center, funded by the US Department of Commerce’s Economic Development Administration, and will be operated with the Hudson Valley Economic Development Corporation and Westchester Community College.

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