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Bioscience Industry Fuels Jobs and Growth for States, Industry Study Finds
Monday April 10, 11:30 am ET
Nation's 1.2 Million Bioscience Jobs Generate Additional 5.8 Million Jobs
CHICAGO, April 10 /PRNewswire/ -- States and regions across the country are working to develop and promote the growth of their bioscience bases, according to the study "Growing the Nation's Bioscience Sector: State Bioscience Initiatives 2006," released today by Battelle and the Biotechnology Industry Organization (BIO). The biosciences are a growing and vibrant sector of the U.S. economy, with more than 40,000 businesses employing 1.2 million people in all 50 states, Puerto Rico and the District of Columbia.
"Growing the Nation's Bioscience Sector: State Bioscience Initiatives 2006" profiles state policies and programs that provide support to bioscience companies. The report also provides state-by-state employment data for all bioscience sectors, including drugs and pharmaceuticals, medical devices and equipment, research, testing and medical laboratories, and agricultural feedstocks and chemicals.
"This report shows that when states invest in building bioscience industries, they are at the same time making long-term investments in their citizenry with higher education -- especially in science, math and technology. These investments pay off with high-wage, new economy jobs in a growing industry," said Jim Greenwood, president and CEO of BIO. "The industry's growth and the benefits are not just in health care, but also in agricultural, industrial and environmental biosciences."
Walter H. Plosila, vice president of the Battelle Technology Partnership Practice, said, "State investments in research and development at universities and laboratories will become increasingly important in the future to continue the growth of the bioscience industries. The payoff for states will come from investments in translating this research into commercial applications and products."
Key findings of the report include:
* Total employment in the biosciences in the United States reached 1.2
million in 2004, with bioscience workers found in all 50 states and
Puerto Rico. The highest rate of growth in jobs is in the research,
testing, and medical laboratories sector.
* The nation's 1.2 million bioscience jobs generated an additional 5.8
million jobs in the economy. Each bioscience job in the United States
generates 5.7 additional jobs in affiliated industries.
* States are spending billions of dollars to support bioscience research
and development, with research funds and construction of academic and
medical facilities.
* States are also using investment funds and tax incentives to attract
large industry anchors, instead of solely focusing on launching and
growing new bioscience ventures.
* Smaller states that have not traditionally invested in building
bioscience industries are beginning to do so.
All 50 states and Puerto Rico are working to develop and promote the growth of their bioscience bases. Each of these states recognizes that by focusing on its own strengths, they will succeed in capturing the economic benefits of bioscience discoveries.
The study was funded by BIO and Battelle. The report is available on the BIO web site at http://www.bio.org/local/battelle2006/ and the Battelle web site at http://www.battelle.org/news/06/default.stm.
Battelle is a global leader in science and technology. Headquartered in Columbus, Ohio, it develops and commercializes technology and manages laboratories for customers. Battelle, with the national labs it manages or co-manages, oversees 19,000 staff members and conducts $3.4 billion in annual research and development. Battelle innovations include the development of the office copier machine (Xerox), pioneering work on compact disc technology, medical technology advancements, and fiber optic technologies.
BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and 31 other nations. BIO members are involved in the research and development of healthcare, agricultural, industrial and environmental biotechnology products.
--------------------------------------------------------------------------------
Source: Biotechnology Industry Organization
Bioscience Industry Fuels Jobs and Growth for States, Industry Study Finds
Monday April 10, 11:30 am ET
Nation's 1.2 Million Bioscience Jobs Generate Additional 5.8 Million Jobs
CHICAGO, April 10 /PRNewswire/ -- States and regions across the country are working to develop and promote the growth of their bioscience bases, according to the study "Growing the Nation's Bioscience Sector: State Bioscience Initiatives 2006," released today by Battelle and the Biotechnology Industry Organization (BIO). The biosciences are a growing and vibrant sector of the U.S. economy, with more than 40,000 businesses employing 1.2 million people in all 50 states, Puerto Rico and the District of Columbia.
"Growing the Nation's Bioscience Sector: State Bioscience Initiatives 2006" profiles state policies and programs that provide support to bioscience companies. The report also provides state-by-state employment data for all bioscience sectors, including drugs and pharmaceuticals, medical devices and equipment, research, testing and medical laboratories, and agricultural feedstocks and chemicals.
"This report shows that when states invest in building bioscience industries, they are at the same time making long-term investments in their citizenry with higher education -- especially in science, math and technology. These investments pay off with high-wage, new economy jobs in a growing industry," said Jim Greenwood, president and CEO of BIO. "The industry's growth and the benefits are not just in health care, but also in agricultural, industrial and environmental biosciences."
Walter H. Plosila, vice president of the Battelle Technology Partnership Practice, said, "State investments in research and development at universities and laboratories will become increasingly important in the future to continue the growth of the bioscience industries. The payoff for states will come from investments in translating this research into commercial applications and products."
Key findings of the report include:
* Total employment in the biosciences in the United States reached 1.2
million in 2004, with bioscience workers found in all 50 states and
Puerto Rico. The highest rate of growth in jobs is in the research,
testing, and medical laboratories sector.
* The nation's 1.2 million bioscience jobs generated an additional 5.8
million jobs in the economy. Each bioscience job in the United States
generates 5.7 additional jobs in affiliated industries.
* States are spending billions of dollars to support bioscience research
and development, with research funds and construction of academic and
medical facilities.
* States are also using investment funds and tax incentives to attract
large industry anchors, instead of solely focusing on launching and
growing new bioscience ventures.
* Smaller states that have not traditionally invested in building
bioscience industries are beginning to do so.
All 50 states and Puerto Rico are working to develop and promote the growth of their bioscience bases. Each of these states recognizes that by focusing on its own strengths, they will succeed in capturing the economic benefits of bioscience discoveries.
The study was funded by BIO and Battelle. The report is available on the BIO web site at http://www.bio.org/local/battelle2006/ and the Battelle web site at http://www.battelle.org/news/06/default.stm.
Battelle is a global leader in science and technology. Headquartered in Columbus, Ohio, it develops and commercializes technology and manages laboratories for customers. Battelle, with the national labs it manages or co-manages, oversees 19,000 staff members and conducts $3.4 billion in annual research and development. Battelle innovations include the development of the office copier machine (Xerox), pioneering work on compact disc technology, medical technology advancements, and fiber optic technologies.
BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and 31 other nations. BIO members are involved in the research and development of healthcare, agricultural, industrial and environmental biotechnology products.
--------------------------------------------------------------------------------
Source: Biotechnology Industry Organization
posted by Jones Lang LaSalle NJ News Blog at 10:48 AM
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