(L-R): State Sen Ted Kennedy Jr., State Rep. Lonnie Reed, Gov. Dannel Malloy, Dr. Todd Arnold, Icahn School.
Mount Sinai’s genomics lab, which this week received a $9.5 million low-interest loan from the state, “is way ahead of schedule,” State Rep. Lonnie Reed said yesterday in an interview, “and making a huge contribution to Connecticut and Branford.”
“The newly arrived Genomics Laboratory is — according to their leadership team — hiring and taking on projects at a pace that puts them well ahead of the 145 new employees and expanded facilities they committed to achieving within five years,” she said.
Mt. Sinai opened for business about four months ago and is a part of a long-range plan to create a new biomedical industry for the town. The $9.5 million loan will be used for improvements and operating costs at the research center located at the site of what once was Roche’s 454 Life Sciences facility at 1 Commercial Dr.
Reed Delivers
Reed has helped bring biotech companies to Branford. In November, the Icahn Institute at Mount Sinai opened its state-of the art DNA sequencing lab. At the time Gov. Dannel P. Malloy said the lab was expected to create at least 145 jobs over the next five years.
It is to the lab’s benefit to reach the goal. The loan’s interest rate is set at 2 percent for 10 years with principal deferred for five years. The company will be eligible for loan forgiveness of up to $7.25 million if it meets incremental job creation goals within five years, a press release announcing the loan said.
Mount Sinai’s operation in Branford is part of Gov. Malloy’s plan to form “a cluster of some of the world’s leading bio-science institutions, which are growing jobs needed to compete and win in the 21st Century economy,” the Governor said.
“The state-of-the-art genomics research facility being launched in Branford by the Icahn School of Medicine at Mount Sinai will play a strong part in creating good paying jobs with good benefits while making major advancements in the research, development and discovery in personalized medicine,” the governor said in a prepared statement.
Reed, co-chair of the General Assembly’s Bipartisan Life Sciences Caucus, said that in addition to creating “high paying jobs and stimulating our economy, the new lab is conducting DNA sequencing to advance research and develop new clinical tests for major diseases, including cancer, diabetes and Alzheimer’s.”
“We worked hard to bring Mt. Sinai to Branford and I am grateful to Gov. Malloy and the Department of Economic and Community Development for approving our state’s investment in this remarkable institution,” she said in a prepared statement.
State Sen. Senator Ted Kennedy, Jr., who lives in Branford, said the town is rapidly becoming a center of activity in Connecticut’s growing bio-science field. The Icahn School of Medicine’s expansion will help put Branford on the map as they lead the way in developing treatments for cancer and other life-threatening diseases. Beyond that, this new genomics lab will put dozens more people to work, generating increased economic activity in Branford and throughout the region.”
Dr. Todd Arnold, manager/director of the Ichan School, said, “The assistance in Connecticut, both locally and at the state level, has been exceptional. I thank Rep. Reed for her tireless efforts on our behalf and the energy we received from the state in the way of finding a location, recruitment and funding.”
Reed said in an interview that “we are having success encouraging partnering among the new companies and the big research institutions we are bringing to Connecticut such as Jackson Labs, which is already having a collaborative relationship with Mt. Sinai.” One of Jackson’s top officials will come to Branford next week to discuss Icahn’s arrival in Branford and a discussion will be held among local biotech executives, including Todd and Josh Geballe from Core Informatics. Reed will participate along with some members from the Governor’s Life Sciences Task Force. The event, sponsored by Branford’s Economic Development Commission, will be held at the Blackstone Memorial Library on Thursday, March 26 at 9 a.m. Doors open at 8:30 a.m. for coffee and pastries.
CERC Report
In 2010, the town commissioned a “Targeted Industry Study” at the suggestion of the town’s Plan of Conservation and Development. The analysis was compiled by the Connecticut Economic Resource Center (CERC). The study looked at various businesses that exist in town, and at the types of business that would be the most conducive to economic growth in the future.
As one part of that study, focus groups comprised of residents and business people were asked their opinions on various issues. (This earlier story concerns focus groups in 2007.)
The 2010 report lists the following statement from the focus groups in regard to bio-tech industries.
“Overall, participants felt that the best types of businesses for Branford’s growth would be biomedical and biotech companies because of the types of skilled workforce they attract and the higher paying jobs leading to increased spending in housing, services and taxes – all of which benefit the Town. “
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