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Biotechnology in Alabama

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Presentation from BIO's Patrick Kelly about findings from the Battelle report and other compelling rationale for bio in Alabama.

Presentation from BIO's Patrick Kelly about findings from the Battelle report and other compelling rationale for bio in Alabama.

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    Biotechnology in Alabama Biotechnology in Alabama Presentation Transcript

    • Bioscience Industry Overview Patrick Kelly Biotechnology Industry Organization
    • Defining the Biosciences The biosciences are a diverse group of industries and activities with a common link—they apply knowledge of the way in which plants, animals, and humans function. The sector spans different markets and includes manufacturing, services, and research activities. By definition, the biosciences are a unique industry cluster and are constantly changing to incorporate the latest research and scientific discoveries.
    • Bioscience industry employment continued to grow, even during the first year of the recession
    • The total employment impact: 8 million jobs
      • The full impact of the biosciences goes beyond the direct level of employment and earnings presented in the report
      • By applying national and state employment multipliers, we are able to quantify the broad “ripple effect” of adding bioscience jobs on the greater economy
      • On a national basis, 5.8 additional jobs are created for every 1 new bioscience job
    • Bioscience sector continues to be a source of high-wage jobs
      • The overall bioscience sector paid average annual wages of $77,595 in 2008, $32,366 more than the average annual wage of the total U.S. private sector.
      • Real earning for bioscience industry workers have increased by 10.1% since 2001, compared with 3.2% for the U.S. private sector
    • How are we doing in the current economic climate?
    • Bioscience employment greatly outpaced national employment growth from 2001–2008
    • (Source: BIO, Factset, Sept. 27th, 2010) Biotech Sector Performance Since 2007
    • 2010 US IPO “WINDOW” 2009 2010 Cumberland IPO August 2009 2011 2012 2013
    • … How it ended last time around: 2003 2004 2005 2006 2007
    • States continue to invest in bioscience development despite state fiscal challenges
      • States are:
      • Focusing on the agricultural, biotechnology, bioenergy and bioproducts industry subsectors
      • Implementing new programs to build R&D capacity and advance commercialization of research discoveries
      • Addressing the need for early-stage capital
      • Enacting tax policies that are supportive of the bioscience industry
    • Report Conclusions
      • The bioscience industry is a diverse and rapidly growing sector that is contributing significantly to national, state and regional economies
      • The industry continued to add employment during the first year of the recession and the financial performance of public bioscience companies through 2009 was positive
      • But continued bioscience development is not guaranteed
            • States face difficult fiscal times
            • Federal fiscal woes threaten NIH funding
            • The recession has negatively impacted the availability of venture capital for bioscience firms
            • K-12 math and science education remains a significant concern
      • State and national policymakers have a key role to play in ensuring that these challenges are addressed in order to allow the U.S. to continue to be a world leader in the biosciences .
      Battelle/BIO State Biosciences Initiatives 2010
      • A look at Alabama
      • Through the Battelle Report
    • Alabama’s Scoresheet Top 25 ranking
    • Bioscience Industry in Alabama Total Bioscience Industry : Establishments: 557 Employment: 10,146 Multiplier: 3.71 Total Employment: 37,634 Avg. Salary: $55,916
    • R&D Expenditures
    • Clinical Trial Activity
    • Venture Investment
    • Patent Activity
    • Talent Base
    • Conclusions
      • Fiscal climate has put significant pressure on industry and state governments and will continue to be challenge for the foreseeable future
      • States and regions increasingly aware of industry needs and are implementing policies and programs to support industry growth
      • Alabama has significant bioscience assets that are highly coveted. The state should insure that it is doing as much as possible to encourage industry development and retention.