HVEDC Earns IEDC Gold Award for Economic Development Entrepreneurship Excellence for BioInc® NYMC

GOSHEN, N.Y. (Sept. 20, 2017) — The Hudson Valley Economic Development Corp. (HVEDC) earned its third international award from the International Economic Development Council (IEDC), presented at the organization’s “Going Global” Annual Conference in Toronto last night. HVEDC received IEDC’s Gold Award, acknowledging Economic Development Entrepreneurship Excellence for HVEDC’s New York BioHud Valley and the initiative’s leadership in developing BioInc@NYMC, the Hudson Valley’s first-ever biotechnology incubator located on the campus of New York Medical College.

BioInc@NYMC grew out of NY BioHud Valley, the HVEDC cluster development initiative which, among other groundbreaking activities, markets the Hudson Valley as a major location for the biotech industry in the northeastern U.S.

“We are thrilled to be honored with this prestigious award, especially since we were in competition with some of the largest economic developers from across the country,” said HVEDC President and CEO Laurence P. Gottlieb. “Since 2010, the NY BioHud Valley initiative has helped biotech companies take off and grow. This award reflects the Hudson Valley’s role as a key international economic development center in the biotechnology and pharmaceutical sector, and recognizes HVEDC’s ability to create long-lasting economic benefits by creating critical partnerships throughout the region.”

“I am very proud of Hudson Valley Economic Development Corporation for being recognized on this world stage,” said Robert J. Levine, HVEDC Board Chair and Partner at Corrigan, Baker & Levine, LLC. “The international recognition of this organization the last three years shows that we are creating tremendous economic development benefits for those living and working in the Hudson Valley.”

BioInc@NYMC, which is based at New York Medical College in Valhalla, continues to develop a wide variety of opportunities for biotech companies in the region, research institutions and highly educated members of the workforce. Participants include leaders from the worlds of business, academia, government, research and community, working together to promote the region as a hub for the pharmaceutical, biotech, life science and medical device fields.

“The shared resources, turnkey wet lab space and sponsored professional services that BioInc@ NYMC offers to promising, high-potential entrepreneurs and start-ups are second to none,” said Robert W. Amler, M.D., New York Medical College dean, School of Health Sciences and Practice, and vice president for government affairs. “We provide best-in-class infrastructure and operational services to assist our members in refining their business strategies, conserving capital, building strong teams, and achieving development and funding milestones. This award is a monumental recognition of our work and we congratulate HVEDC.”

Since 2014, BioInc@NYMC has become the most successful incubator of its kind between New York and Cambridge, Massachusetts. Currently it hosts clinical trials, with several members having already received more than $23 million in funding for firms. At its full capacity, the incubator generates 140 full-time and 75 part-time jobs and is responsible for bringing in more than $1 million of activity with Regeneron when considering grants, contracts and projects.

“Congratulations to HVEDC and Westchester’s own BioInc@NYMC on this prestigious award,” said Westchester County Executive Robert P. Astorino. “I’m proud that the incubator has chosen Westchester County as its home. Our county is proud to be a part of the growing Hudson Valley economy and we continue to be committed to supporting entrepreneurs through programs such as BioInc@NYMC.”

In 2016, HVEDC’s Beer, Wine, Spirits & Cider Summit was awarded an IEDC Bronze Award. In 2015, it received its first IEDC Gold Award for its Hudson Valley 3D Printing (HV3D) cluster development initiative.

About Hudson Valley Economic Development Corporation (HVEDC):

HVEDC is the leading economic development agency for the seven-county region of Westchester, Putnam, Dutchess, Rockland, Orange, Ulster and Sullivan counties. The public-private partnership markets the region as a prime business location to corporate executives, site selection consultants and real estate brokers. HVEDC helped start the organizational, branding and promotional effort for NY BioHud Valley, Hudson Valley 3D Printing, Hudson Valley EDs & MEDs, the Hudson Valley Food & Beverage Alliance, HV Play and more. To learn more, call 845-220-2244 or visit www.hvedc.com.