The Long Island City Partnership launches new proposal for biosciences firms
After many years of being late behind Boston, Raleigh-Durham and San Francisco, the city of New York and the state of New York have started to push for initiatives in order to develop a Life Sciences and Innovation Industries cluster. The center would eventually be located in Long Island City, and as we mentioned the plan is being pushed by the governor of the state, Cuomo, and the mayor of the city, de Blasio. Both state men have made deep changes in several financial policies that would enable the creation of such a center and similar ones, boosting the Life Sciences Industries in the New York Area.
After these changes were introduced, and because of them, the Long Island City Partnership has launched a search for proposals from consultants. They are seeking someone who would produce a business plan that would help the LICP develop a Life Sciences and Innovation Industries Cluster in the neighborhood of Long Island City, in the borough of Queens. This search has since been dubbed “The Plan”. The winning proposal should “be based on a thorough feasibility analysis, and present a tactical outline of required steps for catalyzing and fostering a self-sustaining Life Sciences Cluster in LIC”.
The Long Island City Partnership has already met with several developers, prominent in the life sciences fields. These firms have already acknowledged the great potential the Long Island City area has for the installation of a center of these characteristics. Furthermore, reports have said many of these developers approached private entities too. Key points for potential developers are the expansion of the NYC Ferry Service and the inauguration of the 2nd Avenue subway, making Long Island City a very reachable area. With these additions to the city, the LIC neighborhood and its many academic medical institutions are very easy to access.
Another factor that’s favoring LIC is how much of already zoned space there is. The neighborhood has massive quantities of land that is already zoned for what needs to be built: labs. Furthermore, there is room for Long Island City to continue growing, meaning the area will be self-perpetuating. Besides the lab-zoned space, LIC has plenty of room to house related business and people, from talent to high-end equipment. It is also important that the government provides some incentive to these bioscience companies so they don’t need to compete with residential and office spaces that can be more expensive. Ideally, the mayor and governor should develop more targeted policies. If this is taken into account, LIC will have the potential to be a modern work-play community, where individuals will be able to work in the tech industry and enjoy the emerging retail landscape.
The Long Island City partnership is aware of both: the potential the neighborhood has and the pressing need of guidance and investment that floods the area, if it is going to reach its full potential. In order to achieve this, the LICP created the Life Sciences Committee, where many LICP Board Members also serve. [LIC Partnership]