An Oregon research center has announced plans to open a new bioscience complex in Portland's South Waterfront District.
The Oregon Translational Research and Development Institute is non-profit, funded primarily by the state. It focuses on taking ideas generated in university labs or at small start-ups and helping them progress to market.
The institute is renovating a building close to the Willamette River. It'll have individual labs, offices, shared equipment and conference facilities. The director Jennifer Fox says they plan to house up to six companies.
Fox said, "I think it's very forward thinking of the state of Oregon to invest in these kinds of incubators. And I know that the south Willamette Valley is looking at their own incubator space as well. So I hope that there will be an incubator network across the state in years to come. And we'll be able to have a shared network of facilities, best practices, entrepreneurial experience etc."
Fox says half the space has already been reserved. A study by the Oregon Bioscience Association found that more than 13,000 people were employed in this growing sector in 2010.