New Yorkers who follow technology trends know our state is losing jobs in life sciences. Many people in the industry believe it’s because New York is inhospitable to biotech. In the words of a recent academic report, “the state taxes too much, regulates too much [and] has fostered a generally risk averse atmosphere…” The exodus includes biotech startups as well as large pharmaceutical companies, according to the report, which was released in April by the nonprofit Public Policy Institute of New York State, Inc. (PPI). Some 3,000 biopharmaceutical manufacturing jobs were lost in New York in 2010 or are now on the block, according to the PPI. The multiplier effect is at least 10 support positions lost for each of these slots.
To read the full, original article click on this link: Some Biotechs Love New York—Hindrances and All | Xconomy
Author:Ron Cohen
