The Arizona Biomedical Corridor, a proposed $1 billion development that is expected to create as many as 30,000 jobs, took a recent step forward.
The planned campus, next to Mayo Clinic Hospital in Phoenix, is a collaborative effort of Mayo Clinic, Arizona State University, the city of Phoenix and New York-based developer KUD International LLC. The group aims to lease 150 acres from the Arizona State Land Department to develop facilities and companies near Loop 101 and 56th Street.
The State Selection Board recently finalized an agreement that allows 24 acres near the Mayo Clinic to be redesignated as university land, while another 24 acres near the Scottsdale Fairmont Princess Resort to be redesignated for K-12 education. The agreement allows ASU to build a health education and bioscience research campus as part of the Arizona Biomedical Corridor.
The planned research park, which would compare in size to the nation’s largest, is in line with the goals of Arizona’s Bioscience Roadmap as it would continue Arizona’s rapid growth in bioscience firms and high-paying bioscience jobs.
For more information:
“Biotech’s $1 billion solution: Private company throwing cash at helping further Arizona’s biotech industry, Phoenix Business Journal, 9/12/14
“ASU looking to buy 24 acres next to Mayo for bioscience research campus,” Phoenix Business Journal, 9/12/14
“Arizona Biomedical Corridor one step closer to development,” Phoenix Business Journal, 9/11/14