Life Sciences in San Diego
San Diego is an ideal location for the convention as there is a thriving life sciences industry, check it out:
The San Diego Regional Economic Development Corporation (SDREDC) reports that the life science cluster in San Diego has an annual economic impact of $5.3 billion in direct spending and another $3.8 billion in multiplier spending for a total impact of $9.1 billion a year (2006 dollars). According to the SDREDC, the county's life science jobs pay an average wage in excess of $80,000 – 83 percent above the average pay for all jobs.
San Diego life science companies -- including biotechnology firms and medical device firms -- received more than $4.9 billion in venture capital funding in the years 2001-2007, according to the MoneyTree Survey of PricewaterhouseCoopers. That figure represents 57.3 percent of all VC investment in San Diego County during that time.
San Diego companies and research institutes received more than $1 billion in combined research funding from the National Institutes of Health and the National Science Foundation in 2005, the latest year for which figures are available according to the SDREDC.
- The cluster is also collegial and collaborative. San Diego universities and biotech research institutes have spun off an estimated 200 life science companies, according to the SDREDC. The San Diego Consortium for Regenerative Medicine is California's leading recipient of California state grants to conduct human embryonic stem cell research. The consortium is made up of UCSD, the Burnham Institute for Medical Research, the Salk Institute for Biological Studies, and The Scripps Research Institute.