Business Facilities - July 2008 - (Page 14)

BIOTECHNOLOGY STRENGTH I t is no exaggeration to say that biotechnology is the fastest growing economic development sector in the United States. From California, which has taken a leadership position by leveraging its huge university system and poured millions into research, to Iowa, which has emerged as a bioenergy front-runner, to New Jersey, a perennial force in drugs and pharmaceuticals, biotech hubs are being established and expanded from coast to coast. The Overall Biotechnology Strength U.S. 1. PENNSYLVANIA 2. CALIFORNIA 2. MASSACHUSETTS 4. OHIO past year also has seen an explosive diversification in biotech developments. The traditional focus of bioscience initiatives in drugs, medical devices, agricultural chemicals and testing labs now is being complemented by growth centers built around specific research targets like stem cells and biofuels. Business Facilities has adjusted the methodology applied to our 2008 rankings to reflect this diversity, and to give every state appropriate credit for its biotech efforts. Using government statistics and the latest State Bioscience Initiatives Report, prepared by the Biotechnology Industry Organization (BIO) and Battelle, as a starting point, we identified more than 20 key criteria that have been applied to rank overall biotechnology strength. These criteria included the amount of state R&D funding and venture capital investments; the level of concentrated occupational employment in biotech; tax exemptions specifically targeted to biotech; the number of biotech facilities; biotech patents generated; university grant funding; and bioscience higher education degrees, among other factors. A point scale was applied, giving special credit to states that “walked the walk, as well as talked the talk,” financially speaking, when it came to biotech initiatives. Extra points were awarded to states that actually invested in biotech facilities and/or had the highest concentration of employment in more than one biotech subsector. The competition for the topranked state in overall biotechnology strength was very close, with Pennsylvania edging out California and Biotechnology Venture Capital Investments 1. CALIFORNIA 2. MASSACHUSETTS $20,743,000 $7,091,000 $2,778,000 $2,772,000 $1,957,000 $1,833,000 $1,527,000 $1,474,000 $1,338,000 $1,225,000 4. TEXAS 6. ILLINOIS 7. NEW JERSEY 8. NEW YORK 3. NEW JERSEY 4. PENNSYLVANIA 5. MARYLAND 6. WASHINGTON 7. NORTH CAROLINA 9. FLORIDA 10. KANSAS 10. MINNESOTA 8. MINNESOTA 9. TEXAS 10. NEW YORK These are totals for 2002 – 2007. 14 JULY 2008

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Business Facilities - July 2008 Contents First Word Snapshots Corporate Moves: New York The 2008 Business Facilities Rankings Report 2008 Rankings: Biotech Blasts Off 2008 Rankings: Green with Envy 2008 Rankings: Warm Climate for Business Nanotech Looms Large in Pennsylvania Metro Spotlight: Inland Empire, CA Food Processing Sites: Providing Sustenance as Well as Nutrition Sale-Leasebacks: Easing the Credit Crunch Corporate Moves: Georgia Metro Spotlight: Albuquerque, NM Advertiser Index Inside LiveXchange

Business Facilities - July 2008

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