Business Facilities - September 2008 - (Page 29)

LOCATIONS FOR THE BIOTECHNOLOGY AND PHARMACEUTICALS INDUSTRY Bioscience: Building Block for Growth The biotechnology and pharmaceuticals sectors have become engines for economic development across the country. By Fred Felton I n July, Business Facilities published its annual rankings for state and metropolitan leadership in biotechnology and pharmaceuticals. The results reflected a fierce competition amongst localities in these two sectors, and the fact that biotech has emerged as a primary driver of economic growth across the country. The competition for the top-ranked state in overall biotechnology strength was very close, with Pennsylvania edging out California and Massachusetts, which tied for second place. Ohio and Texas also finished in a dead heat for fourth place. Every state that placed in the top 10 of this year’s ranking should be considered a biotechnology leader. California topped all of the other states in overall biotech employment (Pennsylvania was second in employment), but the diversity and depth of Pennsylvania’s initiatives enabled it to score in more than half of the rankings criteria categories, giving it the top ranking. Pennsylvania has set aside $150 million in 2007-2008 from its tobacco settlement allocation to support bioscience research in the Commonwealth Universal Research Enhancement (CURE) program; it has created three regionally based Greenhouses that are comprehensive centers for the commercialization of bioscience research; and it has earmarked more than $32 million during the past two years to fund high-technology facilities, including bioscience sites. California, New Jersey, Ohio, Connecticut and New York all have made impressive commitments to support the advancement of stem cell research. The California Institute for Regenerative Medicine (CIRM), to which California has committed about $3 billion in funding, and the Stem Cell Institute of New Jersey are B-1 PHOTO CREDIT: ISTOCK PHOTO 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

Table of Contents Feed for the Digital Edition of Business Facilities - September 2008

Business Facilities- September 2008 Contents First Word Snapshots Corporate Moves:�Mississippi Editor's Location Picks 2008 The Palmetto State Reaches Across the Sea Corporate Moves:�Tennessee Metro Spotlight:�Spokane, WA Biotech: Building Block for Development Wind Power Lifts Iowa Germany:�Europe's Economic Juggernaut California Here We Come Up, Up and Away in North Carolina Corporate Moves:�West Virginia Metro Spotlight:�Decatur/Greensburg, IN Advertiser Index Ask the Expert

Business Facilities - September 2008

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.