MedTech Communicates Bio/Med Industry Priorities to New York State Legislators
Monday, February 16, 2015
MedTech Association, a trade association for New York’s bioscience and medical technology (Bio/Med) industry, met with New York State legislators on Feb. 10 to discuss its members’legislative priorities, in one prong of a concentrated effort to grow the state’s economy. Representatives from the following member companies participated: Regeneron Pharmaceuticals, CONMED, Welch Allyn, Medtronic, Hiscock & Barclay LLP, AngioDynamics and Johnson & Johnson.
“New York ranks among the top states in the U.S. for Bio/Med activity, with the 8th most significant medical technology industry cluster,”said MedTech President, Jessica Crawford. “It is also one of Upstate New York’s most stable with considerable potential for long-term economic growth. New York has an opportunity, and a narrow window in which to act, to preserve and grow jobs or risk losing them.”
Measured against performance metrics including employment, academic R&D, National Institutes of Health funding and issued patents, New York is among the top 10 states in the size of its bioscience industry and the scale and reach of its bioscience research. The Bio/Med industry supports nearly 75,000 jobs in New York, lifting the state’s economic output by creating high-skilled jobs with average wages 74% greater than that of the private sector. Even more impressive is Upstate New York’s economic contributions; the region’s more than 28,000 jobs make it large enough that if the region were a state, it would have the 18th largest bioscience industry in the U.S.
In an effort to spur that growth, MedTech has identified the following priorities for New York State, which represent a footprint to move the State’s Bio/Med industry forward.
A. Research and Development Tax Credit
- Establish a refundable Research and Development Tax Credit to help leverage a more innovative stance and expand upon the state’s Bio/Med leadership position
B. Device Warranty Bill
- MedTech opposes a device warranty bill (A.1859) which would require electronic medical devices be warrantied for seven years and all other devices warrantied for ten years;
C. Medical Health Technology Assessment
- Supports the passage of legislation creating a health technology assessment committee consisting of members with backgrounds in health care and health technology under the Department of Health;
D. Greater Coordination and Support for NY’s Bio/Med Workforce
- Facilitate specialized career training programs needed to meet the Bio/Med industry’s workforce needs including uniform certificate programs in biotechnology manufacturing and medical device design; and
E. Strengthen and Expand (NYSTAR) Faculty Development Program
- Requests $50 million to support biomedical research faculty recruitment and retention in FY16.