- Governor David A. Paterson
announced a $2 million grant through Empire State Development (ESD) for Life Medical Technologies (LMT). The company will invest $6 million in new machinery over three years to establish a manufacturing operation for its FDA-approved BreastCare DTS™ device used in the screening of breast cancer. LMT will invest an additional $1.5 million in furniture, fixtures, equipment, and website development and is expected to create 250 jobs over the next three years.
"In this difficult economy, we must make strategic investments of taxpayer dollars in the New Economy industries based on knowledge, technology and innovation. This grant will assist Life Medical Technologies as it invests in New York and puts New Yorkers to work in New Economy jobs," Governor Paterson said. "Breast cancer remains one of the most common cancers found in women in the United States and combating this life threatening disease must remain a priority. I commend Life Medical Technologies for its efforts against breast cancer, and wish them continued success in its new home in Dutchess County."
Life Medical Technologies will locate its new headquarters and operations at the Hudson Valley Research Park in East Fishkill. There it will produce and market BreastCare DTS™, an easy-to-use device produced under patent. BreastCare DTS™ is FDA-cleared as an adjunct to mammography and other procedures for the detection of breast disease, including breast cancer.
Empire State Development Chairman & CEO Dennis M. Mullen said: "LMT is committed to the fight against breast cancer, demonstrated by its new technology that gives the company enormous potential to be a leader in that fight, not just here in New York but across the globe. I would like to thank Governor Paterson, Dutchess County Executive William R. Steinhaus and Dutchess County Economic Development Corporation (DCEDC) President and CEO John MacEnroe, as well as all our partners, for their tremendous support toward this project."
Life Medical Technologies CEO Carol Fitzgerald said: "Our search for the right home for Life Medical Technologies was thorough and extensive. New York State has been extremely supportive along with all the county and IBM team to bring us to this area. We are grateful for that support so that we as a company can support efforts to help people take control of their health."
Empire State Development is New York's chief economic development agency, committed to being recognized on a global scale as the economic development engine driving job growth, strategic investment and prosperity in New York State. ESD is intent on paving the way for New York State to become the leader of the innovation economy and one of the most business friendly, productive and competitive economic development climates in the world. ESD also oversees the marketing of "I LOVE NY," the State's iconic tourism brand.