Gov. Kathy Hochul is putting her money where the future of medical science is betting on innovation, with a nearly $3 million renovation project for SUNY Upstate Medical Center's CNY Biotech Accelerator. The plan aims to tackle the lack of life science incubator space in Syracuse by adding over 3,000 square feet of new lab and office areas to support up to 10 additional early to mid-stage companies annually.
"This latest investment in the CNY Biotech Accelerator, reaffirms our commitment to leading the future of healthcare, helping to ensure that the next critical medical breakthrough happens here in New York State," Hochul said, according to a statement by the Governor's Office. Empirical evidence of the project's impact includes a $65 million economic boost to the region and the creation of 82 jobs over the last two years, demonstrating the accelerator's role in driving economic and medical advancement.
Empire State Development President, Hope Knight, highlighted the importance of supporting innovation by noting, "Our continued support for Upstate Medical’s CNY Biotech Accelerator means that even more industry entrepreneurs will have the space they need to grow their innovations." The state is chipping in with up to $2.25 million through the CNY Rising Upstate Revitalization Initiative, with completion slated for summer 2028, as noted by the Governor's Office.
The renovation will see spaces like conference rooms and locker rooms morph into high-tech research facilities, including a dark room and additional storage. "Investing more than $2 million to upgrade this facility ensures Central New York continues to be a place where medical breakthroughs are born and accelerated," Upstate President Mantosh Dewan told the Governor's Office. Such infrastructure echoes the Governor's broader vision, laid out in her State of the State address, to make New York a nexus of life science innovation.
Moreover, these developments complement the region’s “CNY Rising” plan designed to foster economic growth across the board. State and local officials, including State Senator Rachel May and Syracuse Mayor Sharon Owens, have touted the investment's potential to ignite job creation, stimulate novel medical advancements and, consequently, improve public health. "This renovation at SUNY Upstate’s CNY Biotech Accelerator is a critical step forward," Mayor Owens stated, as per the Governor's Office.
