Listen to this articleVisiting Nassau County on Tuesday, Gov. Kathy Hochul announced plans for the New York BioGenesis Park, a $430 million, 700,000-square-foot cell and gene therapy (CGT) hub in Lake Success.
Developed by Garden City-based Albanese Organization, the project is designed to position New York State, which is investing $150 million in the hub, as a center of innovation that catalyzes research, development and commercialization of life-saving therapies. The project is expected to bring jobs and spur economic development.
“With this groundbreaking hub, New York has the opportunity to stake its claim as the epicenter of cell and gene therapy innovation,” Hochul said in a news release about the project.
“We’re not just advancing medical science; we’re creating a powerhouse that will drive our economy, generate thousands of high-skilled jobs, and bring hope to millions facing life-threatening diseases,” she added. “This investment reaffirms our commitment to leading the future of healthcare and ensuring that the next medical breakthrough happens right here in New York.”
As LIBN reported last year, the hub would be planned to be housed on approximately 15 acres, with close proximity to Northwell Health, and not far from Cold Spring Harbor Laboratory and several other research institutions in the New York metropolitan region.
The project is designed to features spaces for public engagement, research, manufacturing and collaboration. Its first phase is a 331,000-square-foot facility on Northwell Health’s campus in Lake Success. The park’s incubator, supported by a $50 million investment from Empire State Development’s Long Island Investment Fund, is to include wet lab space, shared equipment, office space and other resources. In this environment, cell and gene therapy companies would have access to specialized equipment mentoring, and financial guidance.
“The selection of a developer with proven expertise ensures the Long Island CGT Center would be a beacon of excellence from inception to operation.” Hope Knight, ESD’s president and CEO, said in the news release.
“ESD’s landmark investment not only underscores New York’s commitment to leadership in life sciences but also catalyzes a transformative shift in our biotechnology landscape,” Knight added. “By creating high-quality jobs, attracting world-class talent, and fostering groundbreaking innovation, New York BioGenesis Park would cement New York’s position at the forefront of cell and gene therapy globally, driving economic growth and scientific advancement in equal measure.”
Northwell Health President and CEO Michael Dowling said in the news release that the health system is “committed to supporting New York State in establishing this innovative cell and gene therapy hub on Long Island. The facility will be a game changer for physician-scientists, researchers and innovative companies, some of which are already working together in the region to advance novel biomedical treatments in the fight against cancer and other devastating diseases, offering new hope for our diverse communities across the state.”
The first phase of the center is expected to create about 830 full-time union construction jobs, and 700 jobs related to cell and gene therapy development.
“New York BioGenesis Park represents a transformative investment in Long Island’s future and New York State’s position as a global leader in biotechnology advancements,” Empire State Development Board Chairman Kevin Law said in the news release.
“This project not only promises to create hundreds of high-skilled jobs but also establishes a world-class ecosystem for cell and gene therapy innovation. By leveraging Long Island’s exceptional talent pool and research institutions, we’re laying the foundation for breakthroughs that will save lives and drive economic growth for decades to come,” he added.
The hub would “further amplify and expand the economic engine that is the life sciences industry within New York State, and specifically Long Island,” Russell Albanese, chairman of the Albanese Organization, said in the news release.
“Long Island is already a statewide leader in the biotech sector, with jobs and commercialization opportunities that are supported by our internationally recognized research and educational institutions,” Stacey Sikes, chairwoman of Accelerate Long Island, a supporter of high-tech growth companies, told LIBN.
“The new cell and gene therapy hub announced by Gov. Hochul today will provide a platform for further collaboration to develop lifesaving technologies and spin out new companies,” she added.