A ceremonial groundbreaking was held last week at Cal State L.A. for a $13 million complex designed to nurture a fledgling biotech industry on the Eastside and nearby communities. It’s an area some have have dubbed “Biotech or Bioscience Valley.”
The 20,000-square-foot Rongxiang Xu Bioscience Innovation Center and LA Biospace incubator will house and support biotech start ups, making it easier for entrepreneurs, students and staff to collaborate on projects. The goal is for the fledgling firms to grow, set up shop in the area and attract more industry talent, jobs and economic growth.
Jose Gomez, Cal State LA’s vice president, told the Daily News:
“This is part of a larger plan to cultivate a bioscience industry in what we like to call the Biotech or Bioscience Valley …. It’s an area that really needs an economic boost.”
The new bioscience incubator will become part of a small but what officials say is a promising industry now taking shape in El Sereno, Boyle Heights and cities in the nearby San Gabriel Valley. A few blocks from Cal State L.A., Grifols Biologicals, a maker of biological healthcare products, is constructing a new building at its Valley Boulevard facility. Nearby in Boyle Heights, USC’s Health Sciences Campus just completed a master plan that envisions a major expansion of medical and research facilities.
“The bioscience industry holds tremendous promise for our region,” Cal State L.A. President William A. Covino said in a statement. “It is creating new technologies, new companies, and new employment opportunities.”