Biotech News - Biotechnology industry is important to region

Biotechnology industry is important to region
Experts stress good jobs, growth as evidence of vital businesses in
expanding scientific field

By ERIC ANDERSON, Deputy business editor

Taconic Farms just reached $100 million in sales. Employment at
AngioDynamics Inc. is at 300 people. And Albany Molecular Research
Inc. added research facilities in such places as Singapore and India
as it competes globally.
These were among the data offered Wednesday to illustrate the
growth, and the growing importance, of the biotechnology industry on
the Capital Region's economy, as a group of industry officials
visited the Times Union.

The industry faces challenges, including declining federal support
for basic research.

National Institutes of Health funding is down 10 percent to 15
percent from last year, said Eugene Schuler, chairman of Bioconnex,
a regional biotechnology networking and support organization
affiliated with the Albany-based Center for Economic Growth.

http://timesunion.com/AspStories/story.asp?
storyID=501180&category=BUSINESS&BCCode=HOME&newsdate=7/20/2006

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