Economic Development Futures Journal

Monday, May 09, 2005

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New York's Stem Cell Research Needs Strengthening

The head of Rensselaer Polytechnic Institute's biotech effort is concerned that New York is not doing enough to encourage stem-cell research. Robert Palazzo, director of RPI's Center for Biotechnology and Interdisciplinary Studies, said a top researcher recently rejected a job to lead a group of RPI scientists because, among other things, he felt the state wasn't showing enough support for that type of research.

The interest in biotechnology in general has increased during the past four years. In 2001, only 14 states had economic development initiatives focused on biotech. Today, 40 states have biotech initiatives.

New York was one of the first states to focus on biotechnology. According to a report by state Comptroller Alan Hevesi, the state's biotech and pharmaceutical industries employ more than 54,000 New Yorkers and generated $18 billion in economic activity in the state in 2003.

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