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Heard on the Street: Biotech corridor set up near Mayo Arizona

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Rochester isn't the only place seeking to build a biotech corridor off the success of Mayo Clinic.

New York-based KUD International LLC plans to buy 225 acres of land near Mayo Clinic Hospital in Phoenix to develop the Arizona Biomedical Corridor, the company announced in a press release.

Acquiring the land could take up to a year, but KUD is moving forward on plans for the first building at the more than $1 billion research park, which upon completion could generate thousands of jobs in the region, it said.

The project aligns with Mayo Clinic's plans in Phoenix, said Mayo Clinic Arizona CEO Wyatt Decker.

"The Arizona Biomedical Corridor will further strengthen the region's growth as a national and international destination for health-care-related research, education and private sector interests," Decker said. "Our work with the City of Phoenix and ASU led to our relationship with KUD, a firm we believe will successfully complement and support our vision."

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Like Minnesota, Arizona is trying to build on its biomedical research sector.The Arizona Biomedical Corridor is a collaborative effort among the city of Phoenix, Arizona State University and Mayo Clinic to expand the state's bioscience industry, according to the Phoenix Business Journal.

The land isnext to Mayo Clinic's hospital campus in northeast Phoenix at 56th Street and Mayo Boulevard, just south of the Loop 101 freeway.

KUD International specializes in developing public-private projects around the world, especially large-scale developments founded on research and education. A similar research park is under construction in Israel in conjunction with Ben-Gurion University. — Mike Klein

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