can anybody say Incubating Biotech?

This report takes a sober look at biotechnology’s accomplishments. An

evaluation

of biotech’s two decade record shows:

• A string of successful

biotech companies have abandoned the city to expand in

other locations.

•

Few jobs have appeared. Excluding CuraGen (which recently announced its

departure),

there are only about 400 biotech jobs in New Haven. Most of these

jobs

require higher degrees and remain out of reach for poorly educated city

residents.

• Negligible property taxes have come to the city. Biotech-owned

property and leased

real estate provide only 1.6% of the city tax base. Also,

several biotech companies

have a record of delinquency in filing taxes.

•

Yale is prospering from its relationships and contracts with regional biotech

startups.

As a policy, Yale expects and receives millions in sponsored

research, licensing

fees, company equity and royalty payments from its

biotech start-ups.