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New Biotechnology Park Planned for Texas Medical Center Area
A powerhouse group of nonprofit research institutions, for-profit corporations, and Houston business and professional organizations recently announced plans for a biotechnology park in the Texas Medical Center area.
"Biotechnology will be the economic engine of the 21st century, and the Southeast Texas BioTechnology Park will put Houston and Texas in the driver's seat," said state Sen. Rodney Ellis, who is leading the legislative team in Austin to make the vision of the biotech park a reality. "Houston already leads the nation in biomedical research, but we're behind in commercialization. This project will enable Houston and all of Texas to capitalize on a vast, untapped economic resource."
Ellis recognized Ashley Smith, chairman of the Southeast Texas BioTechnology Park Coalition and president of TIRR Systems, for his leadership in organizing this effort.
"Ashley has been a leader in legislative, business and civic work, and his commitment to this project has made a key difference," Ellis said.
In turn, Smith said the visionary leadership of key leaders of universities, corporations and medical institutions brought this project from dream to reality.
"Critical early-stage leadership was provided by Dr. John Mendelsohn, president of The University of Texas M. D. Anderson Cancer Center; Dr. Jim Willerson, interim president of The University of Texas Health Science Center at Houston; and Michael Jhin, president and CEO of St. Luke's Episcopal Health System," Smith said.
The Southeast Texas BioTechnology Park will be a master-planned 64-acre project with 15 research buildings, 2 million square feet of wet lab/office space and related infrastructure. To be located at the intersection of Fannin and Old Spanish Trail, the park will be developed over a 17-year period, beginning this year. It will be a public/private partnership with 90 percent of the $633 million cost funded privately, 7 percent funded by local government and 3 percent funded by the state.
The current plan provides for project land assembly under state of Texas ownership and master leased to a nonprofit corporation that will develop the project. Currently, 40 acres of the land are jointly owned by The University of Texas M. D. Anderson Cancer Center and The University of Texas Health Science Center at Houston, who will dedicate this land to the master lease. The remaining 24 acres are targeted for acquisition. The park will support more than 23,000 jobs, producing a total annual household income of more than $900 million at build-out.
"The Southeast BioTechnology Park represents a safe, high-leverage investment for Texas taxpayers because the state retains control of the land and receives attractive returns in terms of economic growth, revenues and enhanced property value," Ellis said. "It will allow Texas to capitalize on its world-class biomedical research through commercialization of biotechnology discoveries."
A rapidly growing industry, biotechnology is spawning dramatic new breakthroughs in science and commerce. Biotechnology has great potential to provide products to restore and enhance patient health and well-being and to provide medical breakthroughs that may someday lead to a cure for diseases such as cancer, heart disease, emphysema, cystic fibrosis, Alzheimer's, AIDS, arthritis and sickle cell anemia. Biotech applications in agriculture could dramatically increase crop yields, create blight-resistant crops, reduce reliance on pesticides and provide effective rabies vaccines. Biotechnology will provide benefits for energy and the environment, aiding in wastewater treatment, disaster cleanup and enhanced oil recovery and environmentally friendly manufacturing technologies.
The commercialization of biotechnology has created major industrial growth in the United States over the past decade. Currently, there are some 1,400 biotech firms in the United States with about 153,000 employees. The industry produces $20 billion in annual revenues with an economic impact of $27 billion. Biotech product sales are growing at a rate of 20 percent per year, and more than 2,220 products are in the pipeline. The number of publicly-traded biotech firms is growing, as market enthusiasm for the industry increases.
As Ellis noted, Texas leads the nation in biomedical research discoveries, but the state lags far behind others in biotech commercialization. Houston only averages three to five new biotech companies established annually, compared to 50 in Boston, 70 in San Diego and nearly 100 in San Francisco.
The Southeast Texas BioTechnology Park is modeled after the best practices of 29 leading biotech centers around the country. The park brings together every component of leadership strategy that Texas needs to move to the forefront of the growing biotechnology industry: $1.5 million per year for life science research funded by the Texas Medical Center institutions, NASA's Johnson Space Center, and virtually every major Texas university; global leadership in clinical patient care throughput; growing research-tech transfer programs; a rapidly expanding venture capital pool; strong business start-up support; and a biotech campus with affordable lab and office space.
The venture brings together the critical commercial elements of scientific research, entrepreneurial talent, venture capital, and a campus for commercialization
"Our vision for this project would mean nothing if it weren't for the support that we have received from Senator Rodney Ellis and Representative Scott Hochberg," Smith said. "They are true leaders and stewards of the people's interests. Generations of Texans, as well as people across the country and around the globe, will find healing and better lives through biotechnology, largely due to their contributions."
©2006 Texas Medical Center
E-Mail: tmcinfo@texmedctr.tmc.edu
URL: http://www.tmc.edu/tmcnews/03_15_01/page_03.html
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