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The city and state will partner on a new 486,000-square-foot bioscience center at the Brooklyn Army Terminal, according to an announcement ceremony at the Sunset Park waterfront complex yesterday. New York City is home to nine top academic medical and research institutions — more than any city nationwide — and they produce between 20 and 30 early-stage bioscience companies annually, said Mayor Bloomberg. Unfortunately, as many of those companies start up and grow, they move out of the city because New York doesn’t have appropriate commercial lab space available to them. Work on the facility was supposed to have started last year, but the financial crisis caused the developer to drop out. The project is now being overseen by a non-profit corporation made up of the Research Foundation of the State University of New York and the New York City Economic Development Corp.; the city is kicking in $12 million and the state $48 million. Work is expected to begin on the 100,000-square-foot Phase 1 of the project very shortly.
Biotech Space Gets Off Ground in Brooklyn [Wall Street Journal]
Bioscience Center Is Coming to Army Terminal [Brooklyn Eagle]


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