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Department of Economic Development Georgia: An Emerging Leader in the Business of Bioscience November, 2007
Georgia’s Bioscience Credentials <ul><li>Bioscience in Georgia Today </li></ul><ul><li>250+ bioscience companies </li></ul...
<ul><li>7th largest bioscience center in the U.S. (Ernst & Young) </li></ul><ul><li>#5 for biotechnology strength ( Busine...
Georgia’s Bioscience Credentials <ul><li>Expanding 38% faster than other industry sectors (2001-2006) </li></ul><ul><ul><l...
Georgia’s Bioscience Credentials <ul><li>Merial, Solvay, Ciba Vision, UCB, Quintiles, etc.  </li></ul><ul><li>CDC, America...
Georgia’s Bioscience Credentials <ul><li>Bio companies recently assisted by state </li></ul><ul><li>PharmaCentra, Ben Hill...
Why Georgia is Best for Bio <ul><li>Georgia’s Business Assets for Bioscience </li></ul><ul><li>Workforce & talent </li></u...
Why Georgia is Best for Bio <ul><li>Workforce and Talent </li></ul><ul><li>Young population and strong in-migration  </li>...
Why Georgia is Best for Bio <ul><li>Research Partnerships </li></ul><ul><li>Georgia Life Science Partners </li></ul><ul><u...
Why Georgia is Best for Bio <ul><li>The Georgia Research Alliance   brings together business, research universities and st...
Why Georgia is Best for Bio <ul><li>The Georgia Research Alliance   has invested over $400 million, which has helped to: <...
Why Georgia is Best for Bio <ul><li>Georgia Research partnerships </li></ul><ul><li>The Georgia Biomedical Partnership  (G...
Why Georgia is Best for Bio <ul><li>science and technology incubator that helps Georgia entrepreneurs launch and build suc...
Why Georgia is Best for Bio <ul><li>Research facilities </li></ul><ul><li>Emory Vaccine Center   (emerging infectious dise...
Why Georgia is Best for Bio <ul><li>Research collaborations between faculty at Georgia Tech, Emory & others include: </li>...
Why Georgia is Best for Bio <ul><li>CollabTech (GSU) </li></ul><ul><li>Ga. BioBusiness Center (UGA) </li></ul><ul><li>Cent...
Why Georgia is Best for Bio <ul><li>Incentives </li></ul><ul><li>Workforce training: ICAPP </li></ul><ul><li>Tax Credits: ...
Why Georgia is Best for Bio <ul><li>Biosciences Seed Fund </li></ul><ul><ul><li>Seeded growth of 11 companies </li></ul></...
Why Georgia is Best for Bio <ul><li>Georgia’s Business Environment: Rankings </li></ul><ul><li>#1 in workforce training ( ...
Why Georgia is Best for Bio <ul><li>Georgia’s operating costs   </li></ul><ul><li>Longtime triple ‘A’ credit rating: highe...
Why Georgia is Best for Bio <ul><li>Georgia’s Logistics </li></ul><ul><li>Hartsfield-Jackson Airport  </li></ul><ul><ul><l...
Why Georgia is Best for Bio <ul><li>International business connections </li></ul><ul><li>50+ countries have consular, trad...
The Future of Bioscience in Georgia <ul><li>Strategic industry focus </li></ul><ul><li>ITO collaboration with bioscience s...
The Future of Bioscience in Georgia <ul><li>Promotion of Life Science Facilities Fund and Strategic Industries Loan Fund <...
The Future of Bioscience in Georgia <ul><li>Bioscience as a Strategic Industry </li></ul><ul><li>Commission for a New Geor...
The Future of Bioscience in Georgia <ul><li>Bioscience areas of focus </li></ul><ul><li>Advanced medical technologies </li...
The Future of Bioscience in Georgia <ul><li>Partners </li></ul><ul><li>University System of Georgia </li></ul><ul><li>Life...
<ul><li>BIO 2007 – Boston, MA </li></ul><ul><ul><li>Record number of attendees:  22,366. (15% increase over 2006) </li></u...
<ul><li>BIO 2008 – San Diego, CA </li></ul><ul><ul><li>Expand the Ga. brand: Opening Reception host (over 5,000 guests ant...
<ul><li>BIO 2009 – Atlanta, GA </li></ul><ul><ul><li>ACVB estimates a $26.2M impact on Georgia </li></ul></ul><ul><ul><li>...
The Future of Bioscience in Georgia Marketing Upcoming trade shows in FY08 Bio Asia Jan. 28-30, 2008 Tokyo, Japan Interphe...
The Future of Bioscience in Georgia <ul><li>Raise Georgia’s visibility in key markets through highly targeted marketing in...
Measuring Success <ul><li>Goal:  Georgia’s bioscience economy will be ranked one of the top 5 in the U.S. by 2020 </li></ul>
Georgia Department of Economic Development
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Georgia Department of Economic Development

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Georgia Department of Economic Development

  1. 1. Department of Economic Development Georgia: An Emerging Leader in the Business of Bioscience November, 2007
  2. 2. Georgia’s Bioscience Credentials <ul><li>Bioscience in Georgia Today </li></ul><ul><li>250+ bioscience companies </li></ul><ul><li>15,283 private sector jobs, $940M+ in annual wages, $61,500 avg. salary </li></ul><ul><li>7,500+ jobs at CDC, universities & other public sectors </li></ul><ul><li>$6.9B projected in Georgia-generated sales this year </li></ul>
  3. 3. <ul><li>7th largest bioscience center in the U.S. (Ernst & Young) </li></ul><ul><li>#5 for biotechnology strength ( Business Facilities magazine) </li></ul><ul><li>Ga. Tech-Emory Dept. of Biomedical Engineering ranked 2nd best in nation ( U.S. News & World Report ) </li></ul>Georgia’s Bioscience Credentials Bioscience ratings
  4. 4. Georgia’s Bioscience Credentials <ul><li>Expanding 38% faster than other industry sectors (2001-2006) </li></ul><ul><ul><li>Medical & diagnostic labs </li></ul></ul><ul><ul><li>Surgical appliance and supplies mfg. </li></ul></ul><ul><ul><li>Life sciences R&D </li></ul></ul><ul><ul><li>Pharmaceutical mfg </li></ul></ul><ul><li>Medical devices are a core strength </li></ul><ul><li>Emergence of biofuel & bioenergy firms </li></ul>Bioscience growth
  5. 5. Georgia’s Bioscience Credentials <ul><li>Merial, Solvay, Ciba Vision, UCB, Quintiles, etc. </li></ul><ul><li>CDC, American Cancer Society, Arthritis Foundation, CARE, Carter Center </li></ul>Georgia’s bioscience citizens
  6. 6. Georgia’s Bioscience Credentials <ul><li>Bio companies recently assisted by state </li></ul><ul><li>PharmaCentra, Ben Hill/Irwin County </li></ul><ul><li>Altea Therapeutics, metro Atlanta </li></ul><ul><li>Bacterial Barcodes, Athens </li></ul><ul><li>Greenway Medical Technologies, Carroll County             </li></ul>
  7. 7. Why Georgia is Best for Bio <ul><li>Georgia’s Business Assets for Bioscience </li></ul><ul><li>Workforce & talent </li></ul><ul><li>Research partnerships & facilities </li></ul><ul><li>Incentives & capital </li></ul><ul><li>Business environment </li></ul><ul><li>Operating costs </li></ul><ul><li>Logistics </li></ul><ul><li>International business connections </li></ul>
  8. 8. Why Georgia is Best for Bio <ul><li>Workforce and Talent </li></ul><ul><li>Young population and strong in-migration </li></ul><ul><li>4th fastest-growing state in U.S. </li></ul><ul><li>More than 100,000 people move here each year </li></ul><ul><li>Education </li></ul><ul><ul><li>105 public colleges, universities & technical colleges </li></ul></ul><ul><ul><li>The ICAPP Advantage/Eminent Scholars program </li></ul></ul><ul><ul><li>HOPE scholarship </li></ul></ul>
  9. 9. Why Georgia is Best for Bio <ul><li>Research Partnerships </li></ul><ul><li>Georgia Life Science Partners </li></ul><ul><ul><li>The Georgia Research Alliance </li></ul></ul><ul><ul><li>The Georgia Biomedical Partnership </li></ul></ul><ul><ul><li>The Advanced Technology Development Center </li></ul></ul>
  10. 10. Why Georgia is Best for Bio <ul><li>The Georgia Research Alliance brings together business, research universities and state government to build an innovative and technology-driven economy fueled by pioneering university research through four programs: </li></ul><ul><li>Eminent Scholars </li></ul><ul><li>Research laboratories and equipment </li></ul><ul><li>National centers for research and innovation </li></ul><ul><li>Technology transfer </li></ul>Research Partnerships
  11. 11. Why Georgia is Best for Bio <ul><li>The Georgia Research Alliance has invested over $400 million, which has helped to: </li></ul><ul><li>Attract more than 50 Eminent Scholars </li></ul><ul><li>Secure an additional $2 billion in federal and private funding </li></ul><ul><li>Create more than 5,000 new technology jobs </li></ul><ul><li>Generate some 120 new technology companies </li></ul><ul><li>Allow established Georgia companies to expand into new markets </li></ul><ul><li>Current investment focus for GRA is vaccine development. </li></ul>
  12. 12. Why Georgia is Best for Bio <ul><li>Georgia Research partnerships </li></ul><ul><li>The Georgia Biomedical Partnership (GBP) represents companies, universities, research institutions, government groups and other industry associations involved in discovery and application of life sciences. The GBP </li></ul><ul><ul><li>conducts business and economic development activities; </li></ul></ul><ul><ul><li>advocates on behalf of the industry on public policy matters </li></ul></ul><ul><ul><li>educates the public about the benefits of life sciences research and product development </li></ul></ul><ul><ul><li>provides a network for the exchange of ideas, information and opportunities. </li></ul></ul><ul><li>The GBP is the state affiliate of the Washington, D.C.-based Biotechnology Industry Organization (BIO). Atlanta will host the 2009 Annual BIO International Convention. </li></ul>
  13. 13. Why Georgia is Best for Bio <ul><li>science and technology incubator that helps Georgia entrepreneurs launch and build successful companies </li></ul><ul><li>provides strategic business advice and connects its member companies to people and resources </li></ul><ul><li>headquartered at the Georgia Institute of Technology </li></ul><ul><li>recognized by Inc. Magazine as one of the nation's top non-profit incubators </li></ul><ul><li>locations in Atlanta, Columbus, Savannah and Warner Robins </li></ul>Georgia Research partnerships The Advanced Technology Development Center (ATDC)
  14. 14. Why Georgia is Best for Bio <ul><li>Research facilities </li></ul><ul><li>Emory Vaccine Center (emerging infectious diseases) </li></ul><ul><li>Center for Biotechnology and Drug Design at Georgia State University (vaccines and diagnostics, applied genomics, bioinformatics, neuropharmacology, drug design & synthesis) </li></ul><ul><li>The Center of Biotechnology and Genomic Medicine at Medical College of Georgia (interdisciplinary research in genomics, proteomics and bioinformatics) </li></ul><ul><li>Research Center at Clark Atlanta University (interdisciplinary, includes biomedical research & training) </li></ul><ul><li>UGA Biomedical and Health Sciences Institute (biomedical and human health research and education) </li></ul>
  15. 15. Why Georgia is Best for Bio <ul><li>Research collaborations between faculty at Georgia Tech, Emory & others include: </li></ul><ul><ul><li>Nano-medicine:  </li></ul></ul><ul><ul><ul><li>attracted over $40M in funding from 3 NIH Nano-medicine Development Center Grants </li></ul></ul></ul><ul><ul><ul><li>Georgia Tech/Emory Biomedical Engineering department is the only biomedical engineering department in the nation that has 3 of these highly competitive grants. </li></ul></ul></ul><ul><ul><li>Regenerative medicine  </li></ul></ul><ul><ul><ul><li>Georgia Tech/Emory Center for the Engineering of Living Tissues, a NSF-sponsored Engineering Research Center, has provided $30M over the last 9 years for tissue engineering and regenerative medicine R&D </li></ul></ul></ul><ul><ul><ul><li>additional partners at UGA, Spelman College, and Morehouse School of Medicine. </li></ul></ul></ul>
  16. 16. Why Georgia is Best for Bio <ul><li>CollabTech (GSU) </li></ul><ul><li>Ga. BioBusiness Center (UGA) </li></ul><ul><li>Center for Applied Genetic Technologies (UGA) </li></ul><ul><li>Emtech Bio (Ga Tech, Emory, GRA, ATDC) </li></ul><ul><li>Life Sciences Innovation Center (State of Ga., Medical College of Ga.) </li></ul>Incubators
  17. 17. Why Georgia is Best for Bio <ul><li>Incentives </li></ul><ul><li>Workforce training: ICAPP </li></ul><ul><li>Tax Credits: Job Creation, Investment, Headquarters, R&D, Sales tax exemptions </li></ul><ul><li>Capital </li></ul><ul><li>Low Interest Loan Programs: Life Sciences Facilities Fund, Strategic Industries Loan Fund, Seed venture capital fund </li></ul><ul><li>Private funding: Venture capital investment nearly $250M (2006) </li></ul><ul><ul><li>Expected $319M in 2007 </li></ul></ul>
  18. 18. Why Georgia is Best for Bio <ul><li>Biosciences Seed Fund </li></ul><ul><ul><li>Seeded growth of 11 companies </li></ul></ul><ul><ul><li>Invested $3.6M in state funds to attract $140M in private equity (30-1 leverage) </li></ul></ul><ul><li>Ga. Life Sciences Facilities Fund </li></ul><ul><ul><li>Loan assistance for fixed assets or help with tenant improvements during expansion or relocation of emerging or development-stage companies </li></ul></ul><ul><li>Strategic Industries Loan Fund </li></ul><ul><ul><li>Low-interest loans to strategic industries, including bioscience </li></ul></ul>Low Interest Loan Programs
  19. 19. Why Georgia is Best for Bio <ul><li>Georgia’s Business Environment: Rankings </li></ul><ul><li>#1 in workforce training ( Expansion Management ) </li></ul><ul><li>#1 in fiscal policies ( Laffer Report ) </li></ul><ul><li>#2 for business environment (Site Selection) </li></ul><ul><li>#3 in entrepreneurial activity ( Kauffman Foundation ) </li></ul><ul><li>4th best state to do business in ( CNBC ) </li></ul><ul><li>12th for entrepreneurship climate (Small Business Survival Index) </li></ul><ul><li>15th best state for business ( Forbes ) </li></ul>
  20. 20. Why Georgia is Best for Bio <ul><li>Georgia’s operating costs </li></ul><ul><li>Longtime triple ‘A’ credit rating: highest rate possible </li></ul><ul><li>Moderate costs for property, construction & commercial leases </li></ul><ul><li>Moderate costs of power, logistics & general operating activities </li></ul><ul><li>Wages & social costs below national average </li></ul><ul><li>Cost of living & housing below national average </li></ul><ul><li>Low tax rates </li></ul>
  21. 21. Why Georgia is Best for Bio <ul><li>Georgia’s Logistics </li></ul><ul><li>Hartsfield-Jackson Airport </li></ul><ul><ul><li>725,000+  tons each year </li></ul></ul><ul><ul><li>Direct flights to 5 continents & 150+ U.S. cities </li></ul></ul><ul><li>Central location, U.S. East Coast & Southeast </li></ul><ul><ul><li>More than 80% of U.S. market within a 2-hour flight </li></ul></ul><ul><li>Comprehensive transportation logistics network </li></ul><ul><ul><li>More than 80% of U.S. market within 2-day truck haul </li></ul></ul><ul><ul><li>5,000 miles of railroad – largest network in Southeast </li></ul></ul><ul><ul><li>Savannah Ports are fastest-growing in U.S. </li></ul></ul>
  22. 22. Why Georgia is Best for Bio <ul><li>International business connections </li></ul><ul><li>50+ countries have consular, trade or bi-national chamber of commerce offices </li></ul><ul><li>11 international offices (when China office opens) </li></ul><ul><li>Delta: 317 destinations in 55 countries </li></ul>
  23. 23. The Future of Bioscience in Georgia <ul><li>Strategic industry focus </li></ul><ul><li>ITO collaboration with bioscience stakeholders and industry groups on strategic plan </li></ul><ul><li>Investment in BIO 2007 & 2008 </li></ul><ul><li>Host of BIO 2009 </li></ul><ul><li>Expansion of our partnerships </li></ul>Attracting and growing the bioscience industry in Georgia
  24. 24. The Future of Bioscience in Georgia <ul><li>Promotion of Life Science Facilities Fund and Strategic Industries Loan Fund </li></ul><ul><li>Support of facility expansions like Technology Enterprise Park </li></ul><ul><li>Collaboration with Governor’s Office of Workforce Development and the “Innovation Crescent” </li></ul>Attracting and growing the bioscience industry in Georgia
  25. 25. The Future of Bioscience in Georgia <ul><li>Bioscience as a Strategic Industry </li></ul><ul><li>Commission for a New Georgia </li></ul><ul><li>One of 7 strategic industries in which Georgia’s goal is to be recognized as a world capital by 2020 </li></ul><ul><li>Goal: Georgia’s bioscience economy will be ranked one of the top 5 in the U.S. by 2020 </li></ul><ul><li>Led by Pete McTier </li></ul>
  26. 26. The Future of Bioscience in Georgia <ul><li>Bioscience areas of focus </li></ul><ul><li>Advanced medical technologies </li></ul><ul><li>Bio-manufacturing </li></ul><ul><li>Drug discovery </li></ul><ul><li>Nano-medicine </li></ul><ul><li>Contract services </li></ul><ul><li>Vaccine development </li></ul>
  27. 27. The Future of Bioscience in Georgia <ul><li>Partners </li></ul><ul><li>University System of Georgia </li></ul><ul><li>Life Sciences Center of Innovation in Augusta </li></ul><ul><li>Georgia Research Alliance </li></ul><ul><li>Emory University </li></ul><ul><li>Georgia Bioscience Partnership </li></ul><ul><li>ICAPP </li></ul><ul><li>DTAE </li></ul><ul><li>CDC </li></ul><ul><li>Private sector industry </li></ul><ul><li>Georgia Allies </li></ul>
  28. 28. <ul><li>BIO 2007 – Boston, MA </li></ul><ul><ul><li>Record number of attendees: 22,366. (15% increase over 2006) </li></ul></ul><ul><ul><li>$31,000,000 economic impact for City of Boston </li></ul></ul><ul><ul><li>4-day Boston conference brought over 31,000 room nights </li></ul></ul><ul><ul><li>Lead generation: more than 1000 visitors to the Georgia Pavilion </li></ul></ul>The Future of Bioscience in Georgia Marketing
  29. 29. <ul><li>BIO 2008 – San Diego, CA </li></ul><ul><ul><li>Expand the Ga. brand: Opening Reception host (over 5,000 guests anticipated) </li></ul></ul><ul><ul><li>Relationship building: CEO Reception host (over 400 life science CEOs) </li></ul></ul><ul><ul><li>Year-long platform to highlight Ga’sA life science industry / BIO 2009 </li></ul></ul><ul><ul><li>Double Helix Sponsor level / life science micro-site to target prospects </li></ul></ul>The Future of Bioscience in Georgia Marketing
  30. 30. <ul><li>BIO 2009 – Atlanta, GA </li></ul><ul><ul><li>ACVB estimates a $26.2M impact on Georgia </li></ul></ul><ul><ul><li>Long-term regional impact: Midwest impact for BIO 2006 – Chicago was estimated at $300M </li></ul></ul><ul><ul><li>Statewide exposure: more than 25,000 attendees anticipated in Atlanta </li></ul></ul><ul><ul><li>Long-term gain: Potential to be one of four-city rotation </li></ul></ul><ul><ul><li>Significant recruitment impact: year-long Georgia life science focus… and beyond </li></ul></ul>The Future of Bioscience in Georgia Marketing
  31. 31. The Future of Bioscience in Georgia Marketing Upcoming trade shows in FY08 Bio Asia Jan. 28-30, 2008 Tokyo, Japan Interphex May 26-28, 2008 Philadelphia, PA World Congress on Industrial Biotechnology & Bioprocessing April 27-30, 2008 Chicago, IL Medical Design & Manufacturing June 11-14, 2008 New York, NY SE BIO Nov. 7-8, 2007 Pinehurst, NC Bio Europe Nov. 12-14, 2007 Hamburg, Germany MEDICA Nov. 14-17, 2007 Dusseldorf, Germany Biomanufacturing Summit, N. America Dec. 10-11, 2007 St. Augustine, FL
  32. 32. The Future of Bioscience in Georgia <ul><li>Raise Georgia’s visibility in key markets through highly targeted marketing initiatives (advertising&PR; events; collateral, web, etc.) </li></ul><ul><li>Build relationships with in-market key decision makers </li></ul><ul><li>Repeated direct follow-up with such decision-makers </li></ul><ul><li>Focus on Georgia’s strategic industries. </li></ul><ul><li>Integrate into all department teams: project managers, Trade, international offices, etc. </li></ul><ul><li>Gov’s missions to SEUS-Japan, SEUS-Canada, Korea, etc. </li></ul>Global Georgia Strategy
  33. 33. Measuring Success <ul><li>Goal: Georgia’s bioscience economy will be ranked one of the top 5 in the U.S. by 2020 </li></ul>
  34. 34. Georgia Department of Economic Development

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