Business Facilities - March 2008 - (Page B1)

LOCATIONS FOR THE BIOTECHNOLOGY INDUSTRY Global Biotech Competition Heats Up Policymakers and economic development agencies are focusing intently on the biotechnology sector as an engine for economic growth as the race to secure these companies grows more intense. By Ellen James Introduction courtesy of Gautam Jaggi, leader, Ernst & Young’s Global Biotechnology Center and managing editor of “Beyond Borders,” Ernst & Young’s global biotechnology report. F rom its earliest days, the modern biotechnology industry has concentrated in geographic clusters. The industry was born in California and the Boston area in the mid-1970s, when pioneering companies were founded to commercialize products based on scientific breakthroughs in molecular biology. Since then, the industry has spread around the world, but its growth has typically been clustered in certain geographic areas. In the United States, the most successful clusters have included the San Francisco Bay Area, New England, San Diego, North Carolina’s Research Triangle Park, Maryland, and Los Angeles. Today, competition for biotechnology companies is fierce, as policymakers and economic development agencies focus intently on the sector as an engine for economic growth. Regions are trying to gain competitive advantage by identifying and aligning research, education, infrastructure, and private sector activities around particular fields. Regions looking to replicate the success of existing clusters often start by identifying the drivers of success, which include: • Strong research. Startups created from university research frequently have been located close to their founding scientists—creating clusters around leading research universities. • Venture capital. Drug development is an expensive and time-consuming proposition, and it has taken visionary venture capitalists to recognize the commercial potential of scientific advances and provide the financial backing. Venture capital investors have historically preferred to fund companies in their own geographic B-1 PHOTO CREDIT: DYNAMIC GRAPHICS, INC. A S P E C I A L A D V E RT I S I N G S E C T I O N O F B U S I N E S S FA C I L I T I E S , B I O P H A R M , A N D P H A R M A C E U T I C A L E X E C U T I V E

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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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