Life Sciences in LIC: The Future of Innovation
Long Island City (LIC) is emerging as NYC’s next major life sciences hub, offering a unique mix of affordability, connectivity, and cutting-edge development. With rezonings on the horizon and an expanding innovation economy, LIC provides unparalleled opportunities for life sciences companies to establish and scale their operations.
Why LIC?
- A Thriving Cluster: LIC is home to major life sciences developments, including Alexandria Center LIC, Innolabs, and Hatch Life Sciences, with more on the way. These spaces provide state-of-the-art facilities for companies at all stages.
- Prime Real Estate: Lower costs and available industrial-zoned space make LIC one of the few areas in NYC that can support a significant life sciences cluster.
- Unmatched Connectivity: LIC’s central location and transit access—subways, LIRR, ferries, highways, and proximity to airports—make it one of the most accessible places in the city.
- Strong Talent Pipeline: With its proximity to top research institutions, including Weill Cornell Medicine, Rockefeller University, and Cornell Tech, LIC offers direct access to one of the nation’s largest life sciences workforces.
- Incentives & Business Support: NYC and NYS offer over $1.15 billion in life sciences funding, and LIC businesses can access a range of tax credits, energy cost reductions, and grants.
Key Life Sciences Developments in LIC
Project | Developer | Address | Square Feet |
Alexandria Center LIC | 30-02 48th Avenue | 180k sf. | |
Innolabs | 45-18 Court Square West | 267k sf. | |
Alexandria Center LIC 2 | Alexandria Real Estate Equities | 47-50 30th Street | 135k sf. |
Hatch Life Sciences | 43-10 23rd Street | 218k sf. |
Success Story: 3DBio Therapeutics
3DBio Therapeutics is a biologics and bioprinting company with a focus on regenerative medicine that precision-manufactures living tissues (think spinal discs, ear and nose cartilage) to allow replacement of each individual patient’s parts with tissues designed and created specifically for them. Recently, 3DBio began helping COVID-19 response efforts through manufacture of PAPR Devices for medical use under their subsidiary American PAPR. Dr. Dan Cohen, CEO and Co-founder, moved the company from Ithaca, NY down to Long Island City so he could attract and retain the most talented engineers and scientists in the region. “The commutes were easy from all over the city, even from New Jersey. The space we found was affordable and had the zoning to let us build the lab we needed to grow the company.”
A Dynamic Live-Work Community
Beyond commercial growth, LIC is NYC’s fastest-growing neighborhood, attracting residents, businesses, and creative industries. Its mix of retail, office, and residential development makes it an ideal place for life sciences professionals to live and work.
Business Incentives & Support
LIC Partnership’s Business Assistance team is available to help companies navigate available incentives, financing options, and site selection. Some key programs include:
- Business Assistance Program (LICP): assistance available for local business owners
- BIR, ECSP (Con Edison): for energy efficiency in equipment and for energy reduction
- Commercial and Industrial Energy Efficiency Program (Con Edison): for energy efficiency measures
- Commercial Expansion Program (City): for improving or building new space
- Empire State Capital Funds (State): for improving or building new space, acquiring equipment, and training
- Excelsior Jobs Program (State): for creating new jobs
- Green Infrastructure Program (City): for including eco-friendly measures in new building projects
- IDA Life Sciences Program (City): for improving or building out new lab space
- Industrial Business Zone Relocation Credit (City): for industrial and manufacturing companies relocating to an IBZ
- Industrial & Commercial Abatement Program (ICAP) (City): for improving or building out new space
- Qualified Emerging Technology Company Employment Credit (State): for technology companies growing jobs
- Qualified Emerging Technology Company Capital Credit (State): for investments in technology companies
- Relocation and Employment Assistance Program (REAP) (City): companies relocating to LIC are eligible
- R&D Tax Credit (Federal): for companies increasing research expenditures
- SBA Loans (Federal): for small-business growth, hiring, equipment, and real estate
Join LIC’s Growing Life Sciences Community
As LIC’s life sciences ecosystem expands, now is the time to establish a presence in this high-potential innovation hub. Contact us at cyu@licpartnership.org to explore opportunities and learn more about available incentives and support.
Past Life Sciences Reports and Updates:
*This resource was made possible in part by a grant from Empire State Development, through the New York City Regional Economic Development Council.