New York Medical Schools Urge Hochul to Create Multibillion-Dollar Biomedical Research Fund

Leading medical schools and research institutions in New York are urging Governor Kathy Hochul to commit significant state funding—potentially reaching billions of dollars—to establish a new biomedical research fund. The initiative aims to protect ongoing scientific work and existing jobs amid fluctuating federal support and to advance the state’s vital life sciences sector.

A powerful coalition of New York medical schools and prominent research institutions has appealed to Governor Hochul to commit to a major state investment over the coming years. Their proposal centers on creating a dedicated Empire Biomedical Research Institute, designed to provide critical financial stability for scientific innovation, particularly amid ongoing uncertainty surrounding federal science funding.

Supporters of the proposed institute emphasize its dual benefits. First, it would serve as a crucial safeguard, preserving current research projects and the thousands of jobs tied to them that are now at risk due to shifts in federal funding. Second, and equally important, the fund is seen as a long-term catalyst to strongly support New York’s thriving life sciences sector. Industry leaders stress that this is not merely a reaction to policy changes in Washington, but a proactive strategy for robust economic development and improved health outcomes across New York.

The economic footprint of federally funded research in New York is substantial. Last year alone, such research supported more than 30,000 jobs and generated over $8 billion in economic activity. However, the landscape has become increasingly challenging. This year, more than 1,000 research grants in New York were affected by federal funding cuts or freezes. While some initial terminations were later reversed, hundreds of critical projects remain impacted, causing significant disruption to scientific progress and to many researchers’ career paths.

A written proposal from the Associated Medical Schools of New York calls for an initial $500 million allocation to the new state fund, with an ambitious plan to scale that investment to $6 billion over the next decade. Such a commitment would represent a major investment in scientific excellence and economic vitality.

Securing such a large appropriation, however, will not be without challenges. The proposed fund faces stiff competition for state resources as the FY2027 budget session approaches in January. Analysts point to other pressing state priorities, including major federal policy changes affecting Medicaid and SNAP, as well as the ambitious agenda of the newly elected mayor, which will also require state support. Lawmakers and the governor will face difficult decisions in prioritizing competing demands on the state budget.

Major institutions—including the Mount Sinai Health System, Columbia University, and the CUNY School of Medicine—have collectively expressed strong support for prioritizing biomedical research. In a letter to Governor Hochul, they issued a clear warning: without a dedicated fund, New York risks falling behind other states and even other countries that are actively increasing investments in biomedical research, recognizing its critical role in economic growth and public health.

The governor’s office has acknowledged New York’s leadership in life sciences and advanced manufacturing, attributing it to current administration investments and partnerships. A spokesperson highlighted ongoing initiatives, such as the state’s $150 million investment in the Cell and Gene Therapy Innovation Hub on Long Island and Regeneron Pharmaceutical’s more than $2 billion commitment to a facility in Saratoga Springs. However, no final position on the new funding proposal has yet been disclosed, and Governor Hochul’s FY2027 budget plans are expected to be announced in January.

Meanwhile, researchers across the state continue to face uncertainty due to the volatile nature of federal science funding. While some previous cuts have been reversed, the impact on institutions remains tangible. For example, a prominent nonprofit research center on Long Island conducting cancer and neuroscience research has been forced to lay off staff and scale back some laboratories. One lab director noted that staffing had dropped from seven researchers to four. These firsthand accounts underscore the urgent need for a stable and predictable funding source to maintain New York’s competitive edge in the global scientific community.

The scientific community stresses that state investment is critical not only for academic research but also for strengthening the pipeline to the commercial sector, ensuring a steady flow of innovation and economic benefits for New York. The call for a large-scale state biomedical research fund reflects a strategic vision to cement New York’s position as a global leader in life sciences and medical discovery.