“The policies our elected officials pursue directly impact the ability of bioscience companies to turn breakthroughs in the lab into life-saving medications on the pharmacy shelf,” said Jim Greenwood, President and CEO of BIO. “This report demonstrates that amid challenging budget environments, state elected officials continue to lead and support economic development initiatives that encourage the type of innovation that leads to new bioscience products and continued job growth.”
The report, which conducted a review of all 50 states and their initiatives to support the bioscience companies highlights key examples of state efforts to grow and sustain the bioscience industry while emphasizing the importance of developing trained workforces that will create, grow, and retain bioscience companies. In evaluating initiatives put forth by the states, the report also explores the rational behind current legislative efforts and offers a reference guide showing the application of specific legislation in certain states and outcomes.
"Nationwide, our industry directly employs more than 1.7 million people. These are high-quality jobs, paying substantially more than the average U.S. wage,” added Greenwood. "Advances in biotechnology innovation have had an enormous transformative impact on the U.S. economy, translating the latest scientific discoveries to innovative new medical therapies, to increased agricultural production and farm incomes, and greener bio-based products that will continue to benefit for generations to come."
Download the Report at: bio.org/bestpractices