Long Island’s journey to establish a thriving biotechnology industry has been marked by both ambition and setbacks. Recent news that Estée Lauder will become the new anchor tenant at Broad Hollow Bioscience Park, bringing new research labs and 31 employees, offers a glimmer of hope. Yet, the region’s biotech sector has faced many disappointments.
In 2003, Long Island’s biotech prospects seemed bright, with Helicon Therapeutics and OSI Pharmaceuticals leading the charge. However, Helicon’s departure in 2008 and OSI’s move to Westchester a year later left a void that the region has struggled to fill. Broad Hollow’s main building remained empty for years, underscoring the challenges of building a “critical mass” in biotech.
Estée Lauder’s commitment to research at Broad Hollow represents a new opportunity. To build on this momentum, Long Island must attract more life sciences firms, leverage resources from Cold Spring Harbor Laboratory, and integrate with New York City’s growing biotech scene. Success will require strong regional leadership, collaboration among stakeholders, and strategic management of the Broad Hollow space.
The next five years are crucial. Long Island must capitalize on Estée Lauder’s investment, fostering growth and solidifying its biotech sector to avoid repeating past failures. If the region can build on this foundation, it may finally see the industry it has long aspired to achieve.
Read the full article on Newsday by The Editorial Board here: https://www.newsday.com/opinion/editorials/broadhollow-bioscience-park-farmingdale-state-college-estee-lauder-p34767