Funding will boost exports, create jobs in WNY
U.S. Rep. Kathy Hochul was joined Thursday by Maureen Smith, deputy assistant secretary of the U.S. Department of Commerce, and by representatives of World Trade Center Buffalo Niagara, the New York State Center of Excellence in Bioinformatics & Life Sciences, and the Buffalo Niagara Medical Campus in announcing a $218,771 grant from the U.S. Department of Commerce was awarded to WTCBN as part of a $682,000 cooperative award. The funding will help local medical device manufacturers export their goods, increasing the economic impact of the growing life sciences industry in Western New York.
"This grant is a critical step toward opening new markets, fostering innovation, and expanding manufacturing right here at home," Hochul said. "Meaningful investment in Western New York's medical device industry and workforce will help add good-paying, sustainable jobs to our local economy. It is vital that we continue to work to ensure our local business have the resources necessary to expand and reach new global markets."
With support from the Center of Excellence, the Buffalo Niagara Medical Campus, MedTech, the Jacobs Institute and other partners, WTCBN will administer the funding over three years.
Western New York is home to nearly 250 medical equipment manufacturers and medical research centers. WTCBN estimates the region could see a boost of $25 million in economic activity, and that Western New York manufacturers could create and sustain hundreds of good-paying jobs as a result of this investment.