$13 Million Private Investment Will Establish the Translational Clinical Research Center
Roche Group, an international
leader in biosciences, will invest $13 million to establish a state-of-the-art
Translational Clinical Research Center in New York City, creating 235 new jobs
by 2018.
Roche will serve as an anchor
tenant to encourage construction of the second tower at the East River Science
Park, one of New York City’s premier biotech locations.
"The progress we are making in our state is resonating around the globe, bringing new industries and businesses to New York and creating more and more jobs." Governor Cuomo said.
"Today’s announcement
demonstrates that the New NY is truly working for business, and the
cutting-edge clinical research center at the East River Science Park facility
that this investment will support will bring hundreds of new R&D jobs as
well as help New York maintain its position as a leading hub of high-tech
innovation. This is the type of partnership with the private sector is
transforming New York’s economy into a world-class job incubator for the 21st
century."
"We are very pleased with the selection of the Alexandria Center as this will be a strategically important site for Roche. We looked at several great properties in New York and New Jersey and selected the Alexandria Center for its unique location as well as the dynamic, vibrant and thriving scientific atmosphere it offers,” stated Mike Burgess, M.D., Acting Global Head, Roche Pharma Research and Early Development.
“For Roche research, having the
TCRC located in the Alexandria Center will be a critical element in helping us
maintain the high caliber of scientific excellence within Roche pRED, carry out
our long-term strategic research vision, tap into scientific expertise, and
find new and innovative ways to move the drug development process forward."
To support this major expansion in New York’s biosciences industry, Empire State Development (ESD) has agreed to provide Roche with $6.6 million in tax credits from the Excelsior Jobs Program.
To support this major expansion in New York’s biosciences industry, Empire State Development (ESD) has agreed to provide Roche with $6.6 million in tax credits from the Excelsior Jobs Program.
Under the terms of the
agreement, Roche will invest $13 million for the renovation and equipping of
the commercial space to accommodate the development of the Translational
Clinical Research Center facility and employ 235 new employees by June 2018.
This is in addition to the
investment by Alexandria Real Estate to build the West Tower which will
ultimately house other science companies.
"Under Governor Cuomo’s leadership, internationally-recognized companies are coming to New York to create jobs and grow their business,” added Kenneth Adams, Empire State Development President, CEO and Commissioner.
“This significant expansion and
investment in our bioscience industry will generate jobs and economic
opportunity for years to come. We look forward to supporting this partnership
and building on New York’s reputation for entrepreneurial innovation."
As the potential anchor tenant
in this building phase at East River Science Park facility, the construction
would begin to make available much needed life science space enabling further
opportunities for business attraction and job creation.
Prior to Roche choosing New
York for its new location, New Jersey competed heavily for this project.
About Roche:
Headquartered in Basel,
Switzerland, Roche is a leader in research-focused healthcare with combined
strengths in pharmaceuticals and diagnostics.
Roche is the world’s largest
biotech company with truly differentiated medicines in oncology, virology, inflammation,
metabolism and CNS.
Roche is also the world leader
in in-vitro diagnostics, tissue-based cancer diagnostics and a pioneer in
diabetes management.
Roche’s personalized healthcare
strategy aims at providing medicines and diagnostic tools that enable tangible
improvements in the health, quality of life and survival of patients.
In 2011, Roche had over 80,000
employees worldwide and invested over 8 billion Swiss francs ($9 billion US) in
R&D.
The Group posted sales of 42.5
billion Swiss francs ($47.8 billion US). Genentech, United States, is a wholly
owned member of the Roche Group.
Roche has a majority stake in
Chugai Pharmaceutical, Japan. For more information visit the following: www.roche.com.
About the East River Science Park:
The Alexandria Center for Life
Science®–NYC (formerly known as the East River Science Park), is recognized as
one of the world's leading centers for life science and technology
commercialization in New York City.
Located along Manhattan's East Side
Medical Corridor, the Center provides 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.
Construction Phase I was
completed in the Fall of 2010.
Image courtesy of http://www.biomelbourne.org.
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