Science Park Development Corporation
Science Park at Yale was established in August of 1981 as a part of a cooperative effort by the City of New Haven, Connecticut, Yale University, and Olin Corporation to mobilize their considerable resources to create a new economic base at the site of an 80 acre, predominately vacant, industrial complex adjacent to the Yale Science Hill campus and in New Havens state-designated enterprise zone. Its goal is to further the revitalization of the City of New Haven through the development and enhancement of employment opportunities for area residents, relief of poverty and neighborhood tension, and the prevention of blight and deterioration in the surrounding Dixwell-Newhallville neighborhood area. The Park attracts start-up businesses and high technology firms, including biotech and light manufacturing and assembly industries. Biotech is one of the fastest growing industries in Connecticut. Several of Connecticuts public biotech companies started and reside in the Park. As a home base for new growth-oriented biotech, high tech and manufacturing companies, SPDC provides economic benefits to the City of New Haven as a whole, and offers indirect employment opportunities to area residents. Tenant companies at Science Park benefit by being part of a dynamic R&D community and campus-like environment. These companies also benefit by association with Yale University, and are permitted the use of Yales library and various other facilities.