BioInnovation deal to be summer blockbuster (1 Viewer)

MikeyF

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$60M biotech lab, research center will anchor Canal Street

by Ariella Cohen

bioinnovation.jpg


Construction will begin this summer on the New Orleans BioInnovation Center, ending a
two-year delay on the high-tech, $60-million state economic development project
designed to be a cornerstone of the city’s post-Katrina recovery.

“We are moving forward with what is really the foundation of a knowledge-based
economy for the city,” said Aaron Miscenich, executive director of New Orleans
BioInnovation Center Inc. “It’s an exciting time.”

The state-of-the-art research and office center, designed by Eskew+Dumez+Ripple, is expected to open in March 2009, said Miscenich.

The post-Katrina delay, however, was costly. In the six years since the 2002 project
unveiling by the Louisiana Department of Economic Development, the price tag has
doubled from $30 million originally.

“Part of this increase is due to the ‘Katrina factor’ that many construction projects have
encountered, but some of this increase is also due to the delay,” said Miscenich.
“Because of the specialized nature of the facilities, inflation in the bioscience area can
run as high as 1 percent per month.”

Boosters have long touted the bioscience center as an investment in creating a
high-tech, information-based economy in New Orleans, where the industrial economy
decline began when manufacturing went overseas to reduce overhead. The facility will
lure medical and pharmaceutical companies to the city and bring new activity to a
depressed stretch of downtown, advocates say.

“This is a major investment that will bring new jobs and new life to Canal Street, and
spur other growth in the area,” said Downtown Development District President Kurt
Weigle.


http://www.neworleanscitybusiness.com/viewStory.cfm?recID=25616
 

The Mongoose

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This is very interesting. Are there enough tenants to fill this building up?
 

mg450

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Exactly what this city needs. This city has so many intangibles in culture etc. I almost feel that we're in a build it and they will come situation. We aint Houston or Atlanta, and we shouldnt try to be. All we gotta do is let the people who wanna live in a place with culture like N.O. be professional fruitful have a reason to be here.
 

MLU

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Supposedly they did not take into account the $30 million worth of permits and kickbacks in the original estimate... ;)
 

geauxboy

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I'm a big supporter of having the tech sector growing roots in NOLA. I can never get over how little support for IT schools or jobs are actually in NOLA.

I would LOVE to open a software company in Downtown (or just about anywhere in NOLA) someday.
 

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