California’s Silicon Valley is known for its tech companies. In North Carolina, Raleigh-Durham boasts The Research Triangle – a hub for product development and education. Now, Virginia Beach wants to draw more than tourists and the military. The city is hoping to attract top health care and pharmaceutical companies.
Plans to create a biomedical park will take a major step forward tonight if council members vote to give 155 acres in Princess Anne Commons to the city’s Development Authority. It would be the first tangible move for an initiative that Mayor Will Sessoms announced two years ago to lure health care and biotech companies to diversify the economy.
Virginia Beach launched an initiative Tuesday aimed at boosting the biomedical and life science industries.
VABeachBio, a program approved by the Virginia Beach Development Authority, includes an agreement with Tidewater Community College to create a Bio Accelerator in the college’s Regional Health Professions Center, 1700 College Crescent, according to a news release.
Beach officials said they are hoping to build biomedical momentum in the Princess Anne Commons corridor, where the accelerator will be located. That area is home to LifeNet Health’s world headquarters and Institute for Regenerative Medicine, Operation Smile’s world headquarters, Sentara Princess Anne Hospital and two facilities operated by Children’s Hospital of The King’s Daughters.
Virginia Beach is looking to attract more biomedical and life science businesses by creating a Bio Accelerator at Tidewater Community College.
The economic development department approved a facility use agreement for 1,500 square feet of offices, meeting rooms and lab space in the college’s Regional Health Professions Center at 1700 College Crescent, according to a news release.
The initiative called VaBeachBio is designed to help bioscience companies get started in the city until they’re ready for a more permanent location. Entrepreneurs can also tap into college resources and expertise.
Earlier this month, the Virginia Beach Department of Economic Development launched VABeachBio (vabeachbio.com), an initiative to attract biomedical and life science businesses to the city.
The initiative is a creation of Virginia Beach Mayor Will Sessoms’ Bio Task Force, assembled in 2014 to “establish Virginia Beach as a destination for groundbreaking research and development and headquarters of some of the world’s leading innovators in health care, biotechnology, pharmaceutical development and health care delivery systems.”
The VABeachBio initiative seeks to capitalize on assets in the city’s Princess Anne Commons corridor, the current home of several bio and life science businesses and institutions of higher education.