The Cross-Border Biotech Blog

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

Tag Archives: biotech campus

Biotech Bailout: How Much Does it Cost Government to Attract Biotech Jobs?

Governments want to create jobs.  Not just any jobs, “creativity-oriented jobs” and “knowledge economy jobs.”  But what does it cost government to create one of these jobs?  We don’t really know, but on this blog we’ve been tracking data points all year to try to get some sense of how to invest effectively to attract the workers who will keep our economy competitive into the next century.

This week, a report from Florida’s legislature created what appears to be a new high-water mark: $1.4 million for each new biotech job.  $759 million investment in eight biotech campuses over the last six years, with about equal amounts coming from other levels of government, resulting in a total of 1,100 jobs.  However, as the report points out, not that much time has elapsed.  This also seems like a count of only the most direct jobs, and these have a high leverage ratio, each one supporting 5-7 additional jobs.

One valuable conclusion from the report: creating a cluster takes a multifaceted approach.  The biotech campuses were of limited help because early stage capital was not available.

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Photo of meat grinder from flickr user gpiper under a Creative Commons license.

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