Business Facilities - September 2008 - (Page 34)

$1.2 billion compared to the $737 million spent in 2005. • Funding for early-stage research remains an issue because it is still difficult to obtain. This is true industrywide. • New Jersey’s 32 public biotech companies generated revenues in excess of $3.2 billion in 2007, an increase of 113 percent from 2005. As one example, revenues for Celgene Corporation topped $1.4 billion in 2007, a 161 percent increase from 2005. • Revenues for both public and private companies were estimated to be well above $5 billion. • The aggregate market cap of public companies in the State at the end of 2007 was $29.7 billion, compared to $16.9 million at the end of 2005. “Despite disruptions in the credit markets and corresponding volatility demonstrates, with each year, New Jersey’s growing biotechnology industry becomes even more important to the state’s social and economic viability. —Angie McGuire, Acting Chief of the Office of Economic Growth “ As this survey ” in the equity markets, New Jersey’s biotechnology industry is increasing significantly and could be one of the biggest drivers of employment and economic growth in the State going forward,” says Michael D. Becker, president and CEO of VioQuest Pharmaceuticals and BioNJ Chairman. “Life sciences in general, and New Jersey’s firms in particular, continue to be a hotbed for investment along with merger and acquisition activity—after all, disease is relentless in both good economic times and bad. However, although the biotechnology industry is a significant and growing component of the state’s economy, in view of increasing economic and regulatory pressure and political dynamics, the future prosperity of the industry and the State will rely on a concerted commitment to promote the growth of this industry and forge stronger partnerships between the public and private sectors.” Conducted during the spring of 2008, the goal of the survey is to identify trends that point to industry strengths and what can be done to improve the industry in the future. Key trends as identified by North Carolina. North Carolina’s electric cooperatives are your outlet for growth and success. When it’s time to energize your company, turn to North Carolina. One of the fastest growing states, we have a hard-working labor pool, top schools, and high quality of life. And, turn to North Carolina’s Touchstone Energy cooperatives, who are there every step of the way. We offer a full-service infrastructure that assists you with financing, site selection, and energy efficiency. Here, you can plug into a network designed to energize your business. w w w. n ce l e c t r i c co o p e rat i ve s. co m / d e ve l o p m e nt #1412 at www.BusinessFacilities.com B-6 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 http://www.ncelectriccooperatives.com/development http://www.ncelectriccooperatives.com/development http://www.BusinessFacilities.com

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

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