Investment across the sector occurs at both the state and city level, and is fueled by strategic collaborations between government entities, industry leaders, academic institutions, and organizations dedicated to purposeful investment and job creation. New York State also ranks third in the nation for annual biotech VC funding.

New York leads the nation in academic biotech R&D spending and ranks third for biotech patents granted. While we are the second-largest recipient of NIH funding, our strength goes beyond federal dollars: more than 40% of biotech R&D investment comes from non-federal sources. Our world-class academic institutions also direct ~14% more of their resources to biotech R&D than those in other leading states.

The New York State biotech workforce is ranked among the top 5 nationally, with over 77,000 employees. Our region’s advantages are unmatched: a diverse population ideal for clinical trials, a vibrant culture, and economic opportunities not only for those in the life sciences but their families, too.