November 22, 2004

Wyden, Smith Win $2.7 Million for Nanotech Research, North Macadam development in FY2005 Funding Bill

Legislation will boost biotech boom and South Waterfront redevelopment in Portland

Washington, DC - U.S. Senators Ron Wyden (D-Ore.) and Gordon Smith (R-Ore.) today announced $2.7 million in appropriations for nanotechnology- and biotechnology-related funding for Oregon Health & Science University (OHSU) and for affordable housing in the North Macadam area being developed as a hub for biotechnology in Oregon. The $2.25 million in funding for OHSU research, development, and facilities, as well as $450,000 in housing funds, are contained in the FY2005 omnibus spending bill approved by Congress this weekend. The legislation is expected to move shortly to the White House for signature into law. "Nanotechnology and biotechnology are going to drive real job growth and economic expansion in Oregon, and these funds will help OHSU continue to lead the way," said Wyden. "Staying at the forefront of research, as well as creating a home for these efforts in the North Macadam area, are important steps in ensuring Oregon's leadership role in the future of these booming fields." "These funds will help OHSU continue to open new doors in these important technology fields," said Smith. "The progress OHSU makes in nanotechnology and biotechnology will also advance Oregon's economy and reputation as a leader in cutting-edge technology." OHSU's Defense and Security Research Center will receive $2 million for facilities and research development, specifically for new sensing systems, nanosensors and nanobiology research in the Biomedical Engineering program. OHSU will receive an additional $250,000 for its nanotechnology research program and nanotechnology small business applications. The funds for affordable housing in the North Macadam Central District support a long-range plan to revitalize the waterfront area as a center for biotechnology research and development. "Senators Wyden and Smith and the entire Oregon delegation have shown extraordinary leadership and support in the state's effort to capture Oregon's fair share of the nation's burgeoning bioscience industry," said Peter Kohler, M.D., OHSU president. "This support builds on previous years' efforts and is crucial in laying the groundwork for research that leads to the development of intellectual property, new companies and new investment in Oregon. Support for affordable housing in the South Waterfront leverages investments being made by public and private investors to create a vibrant neighborhood that is accessible to Oregonians." In FY2004 the Senators secured $1.6 million for affordable housing, a waterfront greenway, and streetcar service to the North Macadam area, as well as winning passage of the $3.7 billion 21st Century Nanotechnology Research and Development Act to invest in America's nanotechnology research efforts.