The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Battelle-BIO Data on Biotech Investment and Jobs

I just came from a breakfast meeting between Ontario’s Ministry of Research and Innovation and the Governor of Victoria, Australia. Everyone agreed on the importance of quantitative assessment of the biotech industry, and everyone agreed that finding and measuring (and communicating) success is difficult.

So I was glad to be able to head straight for the Battelle-BIO session presenting data gathered by Battelle, BIO and PMP Public Affairs Consulting tracking “the development of the U.S. bioscience industry on a state and metropolitan area basis .. since 2004.” Much of the data in this year’s report ends at 2008, so it predates the worst of the recession and much of the recent pharma M&A (and associated synergies R&D job cuts). Still, there is some interesting hard data on jobs, investment and best practices to add to this blog’s collection of biotech statistics. Notably:

  • The only job growth 2001-2007 has been in “Research, Testing & Medical Labs,” which Battelle says includes CRO and startup jobs. Jobs have been flat at best in Ag, Drug/Pharma, and Med Device. Reflects increased pharma outsourcing.
  • This data shows a high multiplier, with 5.8 other jobs created per new bioscience job.
  • 27 states have grown at least 1,000 jobs since 2001.

What are the policy initiatives that stand out?

  • 38 states have R&D tax credits, with 7 of these being refundable programs and 4 allowing transfer of credits.
  • 20 states offer tax credits to investors in angel and/or early-stage VC funds.
  • 13 states have fund-of-funds programs, 10 states have made direct LP investments and 14 states have made direct investments in bioscience companies.

Here’s a link to the full report: http://www.bio.org/battelle2010

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One response to “Battelle-BIO Data on Biotech Investment and Jobs

  1. Pingback: Industry Scores Employment Gains Through 2008 - 2010 BIO International Convention Updates

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