Business Facilities - March 2008 - (Page 13)

tal—but all these emerging North American biotechnology locations are worth keeping an eye on. ST. LOUIS: BIO-BELT OF THE MIDWEST According to several studies— including a major one in 2000 by the Battelle Institute—St. Louis, MO is starting to make its mark on the biotechnology map. The Battelle study determined that due to the city’s existing wealth of science corporations (such as Monsanto Co., Pfizer Inc., and Sigma Aldrich) and educational and research institutions (such as Washington University, St. Louis University, BJC Healthcare, and Missouri Botanical Garden), St. Louis has the potential to become a world leader in the area of plant and life sciences. The study also reported that the city would need to enhance several other areas (including incubators, venture funds, facilities, and workforce) for this to happen. Since the study, the city has grown to employ over 15,000 at more than 400 biotechnology companies, particularly in the areas of plant and life sciences. Over $500 million in venture capital has been spent to support these efforts, and several venture capitalists, including Prolog, RiverVest, and Oakwood, have moved into the city. Several biotechnology incubators, such as the Nidus Center for Scien- “ It’s mind boggling how many cities would like to become biotechnology clusters. Not all of these areas are going to be successful. —Gautam Jaggi, Editor, Ernst & Young’s “Beyond Borders” ” tific Enterprise and the Center for Emerging Technologies, have been formed to help biotechnology startup companies grow. Akermin, Inc. moved into the Nidus Center in 2004 after developing portable fuel cell technology at Saint Louis University. The company is hoping for a breakthrough that will lead it towards commercialization over the next few years. “The environment at the Nidus Center is very conducive to sharing thoughts and ideas with other companies in a similar stage of development,” says Louis Hruska, president & CEO of Akermin. “Also, knowing our facility infrastructure is wellhandled allows us to focus on the development of our technology.” Akermin, Inc. received funding from the BioGenerator, an incubator located in the Nidus Center that provides start-ups with financial support for hiring their first employees, setting up laboratories, and beginning development of their products. BUSINESS FACILITIES 13

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Business Facilities - March 2008 Contents First Word Snapshots California Seeks Immigration Reform To Spur Economic Growth Outside the Biotechnology Clusters Global Biotech Competition Heats Up Location Is Key To Your Bottom Line New Incentives For New Hampshire Metro Spotlight: Jersey City, NJ Europe's Center For Goods, Real and Virtual Access Your Markets From Pennsylvania Corporate Moves: Illinois Louisiana Upgrades Important Port Road Projects To Accelerate Michigan's Economy Corporate Moves: South Carolina Metro Spotlight: Salt Lake City, UT Advertiser Index Inside LiveXchange

Business Facilities - March 2008

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