Market Highlights

• Announced by the NYCEDC, LifeSci NYC is a $1 billion initiative to grow life sciences in New York while adding 40,000 jobs and over 1.5 million square feet (ms) of academic, public health, and lab by 2031.
• The Chan-Zuckerberg Initiative (CZI) announced the launch of a new biomedical research hub that aims to detect and monitor cell disease before it becomes untreatable.
• Mayor Adams signed a bill renewing tax credits for biotechnology companies, which can be used to offset business taxes and attract life sciences companies to New York.

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