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News | 4 min read

Va. Biotechnology Research Park, City recognized as Best for R&D

May 11, 2016

RICHMOND – The Virginia Biotechnology Research Park was named as “Best of R&D in Virginia” and Richmond named “Best Locations for Biosciences in Virginia” in the most recent issue of Southern Business and Development. In addition, Richmond and Ashland were recognized as “Best Cities Regardless of Size for Startups” in the “Best of Economic Development in Virginia.”

Southern Business and Development has covered economic development in the American South, the world’s fourth-largest economy, for more than 20 years and is often cited by CNN, Time, the Associated Press, CNBC, and The Huffington Post and in publications such as The Wall Street Journal, USA Today and The New York Times.

“Utilizing assets like the Research Park, Richmond is quickly becoming a hub for innovation and entrepreneurship.  There is no doubt Richmond and the Virginia Biotechnology Research Park are leaders in R&D and biosciences, as evidenced by their selection in our ‘Best of Economic Development in Virginia’ lists,” noted Michael Randle, Editor & Publisher, Southern Business & Development.

The Virginia Biotechnology Research Park and Richmond were selected by the Southern Business and Development’s Southern Economic Development Roundtable at their annual meeting in January.  The members include current and former Secretaries of Commerce along with educators, economists, consultants and local economic developers.

Carrie Roth, President and CEO of the Virginia Biotechnology Research Park said, “The research and development outcomes and follow on commercialization are the keys to our thriving life sciences ecosystem – not only within the park but throughout the region. It is the individual work of our life sciences professionals in our community who we distinguish as the catalyst behind this recognition and the reason why we are amongst the best in Virginia for life sciences.”  

Speaking about the recognition, Dr. Michael Rao, President of Virginia Commonwealth University (VCU) and Chair of the Virginia Biotechnology Research Partnership Authority and The Innovation Council said, “In recent years, the Virginia Biotechnology Research Park has moved from being just a location to focusing on being a community of life sciences professionals and a catalyst for innovation throughout the region.  Richmond is taking notice and it is nice to see the entire Commonwealth is aware of the great research and development taking place at the Research Park.”

“Richmond is experiencing a rebirth from the arts, to craft beer and food, to the countless number of businesses choosing to start and flourish here.  The Virginia Biotechnology Research Park is instrumental to launching entrepreneurs and helping our existing companies flourish.  We are excited for the future of biosciences in the region,” stated Kim Scheeler, President of chamberRVA and member of The Innovation Council.

About the Park: The Research Park is a life sciences community adjacent to the Virginia Commonwealth University (VCU) Medical Center―housing private sector companies, research institutes, non-profits, and state and federal laboratories on a 34-acre campus in downtown Richmond, Virginia. The Park is home to nearly 60 private and non-profit companies, state and federal laboratories, and research institutes/administrative functions of VCU and the VCU Health System, employing approximately 2,400 researchers, scientists, engineers and support personnel. Major member organizations in the park include the VCU Innovation Gateway, the Altria Center for Research and Technology, United Network for Organ Sharing, True Health Diagnostics and the Virginia Division of Consolidated Laboratory Services. The Park also has developed partnerships with neighboring Chesterfield, Hanover and Henrico Counties to expand its 34-acre downtown campus to extend the reach of the Research Park.