Medical and business leaders in Westchester announced Friday a new project that will bring the biotechnology sector—and over 200 jobs—to the county.
A biotechnology incubator is slated to be built at the New York Medical College (NYMC) campus in Valhalla, officials said. The incubator, dubbed iBio-NY, allows start-up biotech firms to discover drugs and vaccines to battle a range of illnesses.
"The center elevates the quality of our teaching and research while stimulating the regional economy," said Robert Amler, one of NYMC's deans.
Though Friday's announcement marks only the formal start of construction, the project is expected to yield 140 full-time jobs and 75 part-time jobs when completed.
The incubator is part of New York's BioHudValley campaign, and the $14 million price tag is supported by a slate of grants.
Along with the incubator will come a biotech business training hub, a simulation center and a training facility.
"What we're doing is a making a difference in people's lives," said Leonard Schleifer, co-chair of the Mid-Hudson Regional Economic Development Council.
Westchester's deputy county executive Kevin Plunkett stood in for Robert Astorino, and lauded the project for "reinvigorating" the area.
The first of the renovations is expected to be complete by sometime in 2013.