Page 49 - 2019 Westchester Economic Development Guide

BIOTECH
A New Biotech Frontier
Westchester boasts a thriving incubator, key industry leaders and new, 99-year lease for a 60-acre hub of biotech and medical technology.
A New Vision
S olidifying Westchester’s po- sition as a regional biotech leader, Westchester County Executive George Latimer and Fareri Associates President John Fareri signed a 99-year lease of the North 60
property in early 2019.
North 60 comprises 60 acres of
undeveloped land in Valhalla on the Grasslands Reservation. The lease calls for Fareri, a developer who was in- strumental in creating the Maria Fareri Children’s Hospital, and Fareri Associ- ates, to develop an innovative hub with a focus on biotech and medical tech- nology research and development, to- gether with retail and hotel space.
The 99-year lease provides for the development of the property in accor- dance with a Master Development Plan in phases. The first phase requires the developer to create 220,000 square feet devoted to biotech and medical technology use, 100,000 square feet in medical office space, 80,000 square feet in retail space and a hotel with 120 rooms and conference facilities. Sub- sequent phases will be developed in stages after the first phase is complete.
Biotech by the Numbers
• 80 biotech companies
• 8,000 employees
• 20 percent of New York State’s
biotech workforce
BioInc@NYMC
As the Hudson Valley’s only biotech- nology incubator, BioInc@NYMC of- fers shared resources, turnkey wet lab space, and sponsored professional services to promising, high-potential entrepreneurs and start-ups.
Being located on the campus of New York Medical College (NYMC), the primary graduate health care aca- demic institution in Westchester, pro- vides deep scientific resources to the innovative biomedical startups at Bio- Inc@NYMC. Our location is convenient to the major New York metropolitan area airports and has easy rail and car access to New York City, Philadelphia, Boston, Connecticut, and the rest of the East Coast’s biomedical innova- tion cluster/ecosystem.
—Deborah Novick Director of BioInc@NYMC
Major Biotech Employers
With nearly 500 employees, Ardsley- based Acorda Therapeutics markets Ampyra, which improves walking in people with multiple sclerosis.
Based in Tarrytown, Regeneron Phar- maceuticals, Inc. is the state’s larg- est biotech company. With more than 5,000 employees, the company was ranked by Science magazine as the world’s number one employer in the biotech and pharmaceutical industry. Regeneron employs 2,000 employees at its Westchester corporate head- quarters and state-of the-art labora- tory facilities. The company occupies nearly 1.5 million square feet of space in Westchester County. Regeneron re- cently expanded its Westchester foot- print with the purchase of 1 Rockwood Road in Sleepy Hollow.
Above: The Regeneron Headquarters
in Tarrytown
Below: County Executive George Latimer and John Fareri of Fareri Associates at the signing of the North 60 lease in early 2019
WESTCHESTER COUNTY ECONOMIC DEVELOPMENT GUIDE 47