Competing for biotechs' attention: States, nations chase prospect of high-paying jobs, revenue

The Boston Globe
June 19, 2008

SAN DIEGO - Georgia hosted biotechnology executives aboard an aircraft carrier.  Nebraska plied them with Omaha Steaks.  ANd Hawaii offered tropical drinks, island music, and hula lessons. 

Everywhere you look at the world's biggest biotech show here this week, politicians and economic development officials are fighting for the attention of industry executives.  At least a dozen governors planned to attend the Biotechnology Industry Organization show. The convention floor is crowded with more than 60 pavilions run by states, nations, and regions, ranging from Oklahoma to Spain.

"They want what we've got," said Massachusetts Governor Deval L. Patrick, who is leading a brigade of four dozen state and local officials at BIO in an attempt to persuade biotech executives to expand in Massachusetts.

...The commercial biotech revolution arguably began in 1976 with the founding of Genetech Inc., a south San Francisco biotech giant.  Cambridge based Biogen (now Biogen Idec Inc.) launched just two years later.

Today the bay area has 77 publicly traded biotech companies, more than any other region, according to a recent study by Ernst & Young.  Massachusetts is close behind with 62.

... Despite the increased competition, Massachusetts' bio cluster has continued to grow.  A PricewaterhouseCoopers study released last week estimated life sciences employment in the state climbed 8 percent from 2001 to 2006 to 77,000 workers even as other industries shrank.  The report also said Massahcusetts generates more life sciences patents and doctorates per resident than any other state.  In addition, it received more funding from the Naional Institutes of Health per capita than any other state.  The report was sponsored by the New England Healthcare Institute, Massachusetts Technology Collaborative and the Massachusetts Life Sciences Center. 

Link to Full Article: http://www.boston.com/business/healthcare/articles/2008/06/19/competing_for_biotechs_attention?mode=PF