Posted on December 14, 2011 1:35 pm

More big news for the Colorado economy. The Fitzsimmons Redevelopment Authority has announced the creation of a massive facility that will house startup biotechnology companies at Bioscience Park. The $8 million plan will create an “accelerator facility” and five companies are already prepared to sign long-term leases. Denver business law attorneys are always happy to see new developments like this, as the livelihood of a business litigation attorney is directly tied to the economic well-being of the region.

Biotechnology is a hot field in this day and age—many Universities and engineering schools are creating or growing pre-existing biomedical engineering departments, and while many areas of the economy are still down, biotechnology research is seeing a surge in interest across the board.

In the case of this new facility, not only are these five pre-existing Colorado-based companies looking to sign leases for the new facility, the developers plan to speak to out of state and national corporations about the potential for creating a base of operations in-state, or even relocating here.

According to the Denver Post article about the new facility, it is designed to allow easy access to all of the pre-existing amenities that are already offered at Bioscience Park, and to provide the capability to host cutting-edge development and life science research activities. These goals will allow them to create a facility that is largely new, without replicating existing conference facilities, for example. It will provide customized lab spaces ranging from 1,500 to 10,000 square feet for its lessees.

This is extremely exciting news for the Colorado business and economic landscape; as biotechnology continues to blossom as an ever more important part of our economy, it is quite exciting to see companies here in Colorado taking steps towards leadership in this realm.