This is the fourth in a series of articles on workforce development and quality jobs - with a focus on state and regional support for bioscience industry development. Read part one . Read part two . Read part three .
By Peter M. Pellerito, BIO Senior Policy Consultant
Bioscience economic development in a nation as large and diverse as the United States is as varied as the country itself. A complex array of factors influence the allocation of resources and the nature of bioscience industry development:
Ultimately, these characteristics combine to impact a local or regional economy and most often determine its success.
As a competitive knowledge-based industry, the biosciences require a region or state to harness its best and brightest minds, while leveraging and maximizing unique resources and characteristics, in order to effectively grow business and boost employment. This industry cluster is unique in that it requires a strong foundation and significant investments in scientific research and discovery, often long before products are manufactured and brought to the marketplace.
Despite the diversity of bioscience niches across the United States, there is several particular commonality that stand out - industry hubs attract and retain high-skilled workers, provide high-paying jobs and provide a positive economic ripple effect to the surrounding community.
Bioscience manufacturing specifically is critically important to the bottom-line of companies competing for an increasingly crowded field of inventors and companies across the globe. They are increasingly challenging US leadership in this important technology sector. Understanding, therefore, vital policy infrastructure challenges facing the future growth of U.S. biomanufacturing requires consideration of attractors and accelerators that foster partnerships.
Each of the 50 states, Puerto Rico and the District of Columbia posses, to broadly varying degrees, a bioscience industry presence. According to the US Department of Commerce, 34 states are home to bioscience companies engaged in the manufacturing of health, agriculture, and/or industrial produced, yielding an estimated value of $374 billion, as of 2010.
Federal and State Biomanufacturing Attractors and Accelerators
These are some of the Federal, State, and Local policy and economic factors that attract new companies to a region to cluster (attractors) and those partnership efforts that assist the incumbent companies to prosper (accelerators).
National Policy Factors for Biomanufacturing Success:
State and Regional Factors for Biomanufacturing Clustering and Success: