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1、The U.S.Biosciences Industry in the States:Best Practices in Innovation,Partnerships,and Job CreationJune 2023June 2023 The U.S.Biosciences Industry in the StatesTABLE OF CONTENTSIntroduction 1U.S.Biosciences Industry Economic Impacts and Industry 3Sector OpportunitiesBiosciences High-Skilled Jobs,C
2、ompanies,and Wages 6State and Regional Economic Development Legislation Guide 8Supportive 2023 State Tax Incentives for Industry Development 9Dynamic Bioscience Supportive Tax Credit Measures 11Bioscience Incubators and Accelerators for 13Early-Stage Company Growth Workforce Development Measures for
3、 Bioscience Employment 15Glossary of Terms 18Economic Development Guide Conclusion 20Innovation,Partnerships,and Job Creation bio.org 1As the nation emerges from the global COVID-19 pandemic,the U.S.Biosciences industry continues to illustrate its value through advancements in biomedical,energy,and
4、advanced food and industrial technologies,along with an expanding mix of employment opportunities with incomes that support a quality standard of living.Even during the economic downturn of 2020-2022,the Biosciences industry actually grew and its advancements continue into 2023,providing ample aware
5、ness to state and local stakeholders that Biosciences companies are an important component of gathering people,developing ideas,and bringing prosperity to states,cities,and municipalities with the industry in their location.In its seventh edition,this report reviews the latest state and regional eco
6、nomic development measures that support the Biosciences,or life science,industries.The analysis is developed by the Biotechnology Innovation Organization(BIO),in partnership with the Council of State Bioscience Associations(CSBA),to highlight noteworthy public policy strategies and programs to assis
7、t policy leaders and their industry partners in identifying new measures that enhance the future prospects of Biosciences in their states and regions.From an analysis of current state public policy efforts to support the Biosciences,the authors have identified four consensus strategies that states h
8、ave created to retain the industry and grow the size and diversity of all of the Biosciences industry sectors across the states:1.Building career pathways for future Biosciences talent is crucial.Attracting and retaining a continuing flow of educated(Ph.D.,MS,BS,AA)and technically-proficient workers
9、 is essential to a state aspiring to enhance a Biosciences industry presence.In this global economy,nearly every competitor has access to breakthroughs in technology and to the equipment and capital to produce standardized products.It is the regions that possess the human capital,with its insights a
10、nd competencies,that experience an enormous competitive advantage.2.States and regions are addressing their regulatory climate to ensure predictable and stable regulatory treatment of Biosciences firms.A stable and supportive public policy framework is vital to industry firms,large and small.It is i
11、mpracticable,and ill-advised,for any state,city or municipality to miss the value of selective incentives to either hold existing Biosciences companies or attract new enterprises.Lawmakers and economic development professionals have become increasingly aware of the unique challenges facing Bioscienc
12、es companies,such as the high research costs and the long development timeline involved in bringing a new Biosciences product to market.They understand the importance of a stable and supportive business industry climate,especially for small and emerging companies.INTRODUCTION2|June 2023 The U.S.Bios
13、ciences Industry in the StatesStates are increasingly allowing companies to monetize earned R&D and net operating loss tax credits,sales tax exemptions for the purchase of R&D equipment,and investment tax credits to drive angel capital investment in the Biosciences industry,among a diverse of suppor
14、tive public policy efforts.3.Utilization of innovative technology-based economic development tax support strategies is on the rise.Public and private stakeholders are creating entrepreneur resource programs that help connect biotech startups with early-stage capital.Supportive measures include inves
15、tor tax credits to spur more early-stage investment in Biosciences companies,and seed funds to bridge the funding gap for companies as they develop and advance their technologies,conduct initial research,and establish proof of concept before attracting larger investments.4.Universities and research
16、centers continue to be strong partners in pre-commercialization research and technology transfer.Thanks to a coalition of industry and university technology transfer groups across the nation that have provided strong support for enhanced federal legislation,including the Bayh-Dole Act of 1980,U.S.co
17、lleges and universities continue to be the international leaders in generating cutting-edge basic research and creating companies from that research effort.States have made company formation a high priority,especially policies that encourage full funding of basic research,predictability of patents,a
18、nd flexible technology transfer,and that provide early-stage funding opportunities and incentives that will serve to stimulate biotechnology innovation.As the contents of this report illustrate,state and regional governments are taking measures to increase the number of new and innovative economic d
19、evelopment initiatives to support Biosciences company creation,expansion,and attraction for the betterment of their communities.“We will continue to grow Michigans economy by creating good-paying jobs for Michiganders while expanding on our leadership in the life sciences and agribusiness sectors.”M
20、ichigan Governor Gretchen WhitmerInnovation,Partnerships,and Job Creation bio.org 3Despite the challenges of a global pandemic and the resulting economic slowdown,the U.S.Biosciences industry has continued to hire and grow its employment base.In 2021,the Biosciences industry grew its employment base
21、 by 1.4%while the overall private sector saw a 5.1%decline.U.S.Biosciences Industry Economic Impacts AND INDUSTRY SECTOR OPPORTUNITIES In 2021 the national Biosciences industry employment reached 2.1 million jobs in more than 127,000 business establishments spread across every state and Puerto Rico.
22、Since 2018,Biosciences employers grew their payrolls by 11 percent while the private sector overall experienced a net job decline of 1.5 percent,due to the steep job losses experienced during the initial pandemic wave and economic shutdowns of 2020.Bioscience industry establishments and average wage
23、s also have risen at double-digit rates over the latest three-year period.The Biosciences industry has not only outperformed the overall economy in recent years,but also other knowledge-and technology-intensive industry sectors such as tech and aerospace manufacturing,in its employment growth.All fi
24、ve of the industrys major subsectors Pharmaceuticals,Agriculture and Environment,Medical Devices,Research Laboratories,Specialized Distribution have contributed to the employment growth seen since 2020,led by impressive,double-digit jobs gains in research,testing,medical labs and pharmaceutical manu
25、facturing,especially during the pandemic.The Biosciences continue to generate high-wage jobs reflecting the industrys outsized demand for STEM talent and a highly skilled workforce.In 2021,U.S.Biosciences workers earned nearly$126,000 per year,on average,which is$58,000 or 85 percent greater than th
26、at earned by their counterparts in the overall private sector.The total economic impact of the Biosciences industry on the U.S.economy,as measured by overall output,totaled$2.9 trillion dollars in 2021.“Life sciences have become a strategic pillar of Utahs economy.The industry embodies entrepreneurs
27、hip and innovation in its work to improve and save lives through advanced testing,novel technologies,and groundbreaking cures.”Utah Governor Spencer J.Cox4|June 2023 The U.S.Biosciences Industry in the StatesCommercial Applications for Job Creation and Development:Beyond the economic numbers the Bio
28、sciences industry provides a variety of job opportunities across a number of commercial applications that illustrate the many ways a person can successfully participate in this growing technology sector.1).Medical Care:Biotechnology tools and techniques open new research avenues for discovering how
29、healthy bodies work and what goes wrong when problems arise.In human health care,biotechnology products include quicker and more accurate diagnostics tests and therapies with fewer side effects because they are based on the bodys self-healing capabilities.Medicines Biotechnology medicines assist the
30、 body in fighting infections or carrying out specific functions.Biotechnology also uses other living organisms plant and animal cells,viruses and yeasts to assist in the large-scale production of medicines for human use.Some new biotechnology medicines approved by the FDA include treatments for anem
31、ia,cystic fibrosis,growth efficiency,hemophilia,leukemia,hepatitis,transplant rejection and many forms of cancer.Vaccines A biotechnology vaccine consists of the antigen,not the actual microbe.By isolating antigens and producing them in the laboratory,it is possible to make new vaccines that cannot
32、transmit the virus itself.Diagnostics Biotechnology has revolutionized the medical diagnostics field by providing accurate and relatively inexpensive tests for a wide spectrum of diseases(e.g.,blood screening test for cholesterol,HIV,etc.)as well as for consumer products,such as home pregnancy tests
33、.Gene Therapy Gene therapy uses the genes themselves as drugs to treat hereditary genetic disorders.2.)Agricultural Production:Humanity has always relied on living things for food,shelter,clothing,and fuel.Our demand for these resources will increase as the worlds population grows.In 1900,the global
34、 population was approximately 1.6 billion.This number has surged to over 6 billion today,and the United Nations expects the global population will reach 10 billion by 2030.Agricultural biotechnology can help humanity meet ever-increasing need by increasing yields,decreasing water and fertilizer usag
35、e,and provide for pest control methods that are more compatible with the environment.Crop plant production Farmers and breeders have relied for centuries on crossbreeding and other genetic modification techniques to improve the yield and quality of crops.The tools of biotechnology allow plant breede
36、rs to select single genes that product desired traits and move them from one plant to another,thus opening a world of traits to benefit food production.Innovation,Partnerships,and Job Creation bio.org 5 Environmental benefits of crop production New biotechnology diagnostics tools detect plant diseas
37、es earlier and more accurately,decreasing the amount of chemicals needed to control the disease.Plant-Made Pharmaceuticals With biotechnology scientists now use transgenic plant2 as manufacturing plants for pharmaceutical compounds,making plant-produced antibodies 25 to 100 times less expensive than
38、 cell fermentation methods.Livestock Production Improvements in biotechnology research has fostered enhanced abilities to detect,treat and prevent diseases from better feed derived from transgenic crops designed to meet the dietary needs of different farm animals.3.)Industrial and Environmental Appl
39、ications:The biotechnology industry employs the techniques of modern molecular biology to reduce the environmental impact of manufacturing and can best be characterized by the reduction or elimination of waste and low consumption of energy.Industrial and environmental biotechnology also works to mak
40、e manufacturing processes more efficient for industries such as textiles,paper and pulp,and specialty chemicals.Industrial Manufacturing Processes Biotechnology offers many options for minimizing the environmental impact of manufacturing processes by decreasing energy use and replacing harsh chemica
41、ls with biodegradable molecules produced by living plants and organisms.Green Plastics-Replacement of petroleum-derived polymers with biological polymers derived from grain or agricultural biomass is another environmentally-friendly aspect of biotechnology applications.Environmental Monitoring and R
42、emediation The techniques of biotechnology science are providing novel methods for diagnosing environmental problems and assessing normal environmental remediation.The remarkable ability of microbes to break down chemicals is proving useful not only in pollution remediation but also in pollutant det
43、ection.4.)Other Applications:DNA Fingerprinting In its simplest form,DNA fingerprinting is the process of cross-matching two strands of DNA to establish paternity.Comparing the different-sized DNA fragments of two samples provides very strong evidence about whether or not the two samples come from a
44、 single source or individual.Space Biotechnology has aided NASA solve some of the toughest problems holding back space exploration,such as putting heavy objects into outer space,controlling spacecraft and explorer modules from the Earth,and developing energy-efficient ways to feed astronauts and kee
45、p them safe and healthy while they are far from home.Domestic Animal Health The Center for Veterinary Biologics at the USDA has licensed more than 90 veterinary biotech products,including therapeutics for horses,a vaccine for feline leukemia,and gene-based drugs and vaccines to treat arthritis,infec
46、tious diseases and cancer in companion animals.“Technology,aerospace,biotechnology,advanced manufacturing and many more industries are building for growth in North Carolina.”North Carolina Governor Roy Cooper6|June 2023 The U.S.Biosciences Industry in the StatesBiosciences HIGH-SKILLED JOBS,COMPANIE
47、S,AND WAGESSTATEBioscience Industry Establishments,2021Bioscience Industry Employment,2021Bioscience Industry Avg.Wages,2021United States127,3892,135,704$125,750Alabama1,26414,372$77,658Alaska1711,147$72,574Arizona2,91236,410$99,585Arkansas1,31610,177$79,472California14,268334,690$163,181Colorado3,3
48、5938,102$117,225Connecticut2,02124,251$136,103Delaware6867,190$131,612District of Columbia4843,387$161,710Florida8,599106,688$106,360Georgia3,34938,449$97,413Hawaii4243,393$79,396Idaho1,0658,031$89,521Illinois4,29790,941$141,681Indiana2,71365,290$109,138Iowa1,80526,469$87,885Kansas1,60319,405$90,745
49、Kentucky1,86016,354$92,798The U.S.Biosciences industry stands out for being a steady generator and source of high-wage jobs.Industry wages are consistently significantly higher,on average,than those for the overall economy,reflecting the mix of skilled,high-quality jobs in demand within an industry
50、advancing a wide range of value-adding products and services,and it further reflects the importance of the industry as a national economic engine.In addition,industry employees who earn high average wages generate the demand for goods and services through their own personal spending.As a result,the
51、Biosciences have a national economic impact that extends and multiplies well beyond the industrys direct employment and earnings.The chart below illustrates that every state,and Puerto Rico have the Biosciences industry in their industrial mix of private sector employment and the average salaries th
52、at accompany this innovative technology industry.Innovation,Partnerships,and Job Creation bio.org 7STATEBioscience Industry Establishments,2021Bioscience Industry Employment,2021Bioscience Industry Avg.Wages,2021Louisiana1,60912,353$99,681Maine57510,374$89,095Maryland3,10449,945$140,498Massachusetts
53、4,612131,800$202,857Michigan2,42944,340$101,374Minnesota2,67063,338$116,110Mississippi1,0327,720$80,053Missouri2,66235,739$97,496Montana6453,745$84,944Nebraska1,42418,147$82,718Nevada1,0699,413$97,766New Hampshire8758,293$119,883New Jersey4,340104,989$165,670New Mexico7706,821$72,248New York5,314110
54、,259$128,308North Carolina5,86392,223$111,993North Dakota6024,299$84,600Ohio4,29059,052$98,478Oklahoma1,27710,490$90,236Oregon1,66417,392$89,192Pennsylvania3,12393,105$126,292Puerto Rico99938,673$57,207Rhode Island6665,773$95,450South Carolina1,91819,418$83,546South Dakota7187,427$79,945Tennessee2,8
55、9944,375$104,420Texas7,462116,473$111,025Utah1,84540,419$80,984Vermont3422,747$91,235Virginia2,69628,135$99,016Washington2,63843,546$123,108West Virginia6736,581$94,391Wisconsin2,15242,483$95,151Wyoming2381,073$81,889Source:Peter M.Pellerito/Teconomy/BIO,The U.S.Biosciences Industry Fostering Innova
56、tion and Driving Americas Economy Forward,20228|June 2023 The U.S.Biosciences Industry in the StatesThe Biosciences sector has three distinct phases of company growth,including early-stage creation,successful testing and expansion,and the manufacturing of products and services in health,agriculture,
57、and the environment.The following stages of development and priority legislative support mechanisms are needed for companies to succeed in a very competitive Biosciences marketplace of ideas and products.Early-Stage Development Companies:It is at this stage that company researchers identify the acti
58、on protocols to begin verifying the viability of the discovery with early testing.Typically,these companies have no products on the market and have less than 100 employees,and are funded by a variety of private or venture funding.Priority Legislative Enablers:SBIR/STTR Small Business Technology Matc
59、h Funding Refundable/Transferable R&D Credits Angel Investor Tax Credit Seed Capital Tax Credit Incubator/Accelerator Funding Net Operating Loss(Carry-Over)Mid-Stage Testing Companies:Once the technical viability of a discovery has been established,the target product must be developed.This stage of
60、company development typically requires significant investment in personnel,equipment and facilities and funding sources may include venture funding,and early sales of products or services.These companies generally have less than 200 employees.Priority Legislative Enablers Net Operating Losses(Carry-
61、Over,Transferability)Research and Development Tax Credits Capital Investment Tax Incentives Innovation Investment Tax Incentives Manufacturing Companies:At this stage,the company manufactures commercial quantities of its approved product,creates a sales force or licenses product to another company.S
62、ale of manufactured products produces revenues and,hopefully,profits with traditional sources of financing placed in commercial loans and public stock offerings.Priority Legislative Enablers:Site and Infrastructure Grant Funds Renewable Energy Tax Credits and Utility Rebates Sales and Use Tax Discou
63、nts,Exemptions and Refunds Biomanufacturing Workforce CreditsState and Regional ECONOMIC DEVELOPMENT LEGISLATION GUIDE Innovation,Partnerships,and Job Creation bio.org 9State governments continue to enact tax credit legislation to mitigate the significant financial risks associated with research and
64、 development and manufacturing in the Biosciences.Tax credits are an important component to building and growing a thriving Biosciences industry hub in a state and in maintaining the dominant U.S.position as the center of innovation.SUPPORTIVE 2023 STATE TAX INCENTIVES FOR INDUSTRY DEVELOPMENTSelect
65、 State Incentive Legislation CategoriesSBIR State Matching GrantsManufacturing Sales Tax Exemption on EquipmentR&D Tax Credit For Product Development Angel Funding For Emerging CompaniesSTATENote:*indicates Refundable or salable tax credits.AlabamannnAlaskannArizonan n*nArkansasnnCaliforniannColorad
66、onnnnConnecticutn n*nDelawarenn n*FloridannnGeorgiannnHawaiinn n*nIdahonnIllinoisnnnnIndianannnnIowann n*nKansasnnnKentuckynnnnLouisianannnnMainennnMarylandnn n*nMassachusettsnn n*n10|June 2023 The U.S.Biosciences Industry in the StatesSelect State Incentive Legislation CategoriesSBIR State Matching
67、 GrantsManufacturing Sales Tax Exemption on EquipmentR&D Tax Credit For Product Development Angel Funding For Emerging CompaniesSTATEMinnesotannnnMississippinnMissourinnMontanannNebraskann n*nNevadanNew Jerseynn n*nNew Mexiconn n*nNew Yorkn n*nNorth CarolinannNorth DakotannnOhionnOklahomannOregonnnn
68、Pennsylvanian n*nRhode IslandnnnnSouth CarolinannnSouth DakotannTennesseennnTexasnUtahnnnnVermontVirginiann n*nWashingtonnnWest VirginiannnWisconsinnn n*nWyomingnnPuerto Riconnnn n YesInnovation,Partnerships,and Job Creation bio.org 11 In 2022,the Colorado legislature expanded the Advanced Industrie
69、s Investment Tax Credit,increasing the funds available for qualifying investments in life sciences and other designated advanced Industries from$750,000 to$4 million.Also included is an increase in the qualified investments in rural counties or enterprised zones.The Connecticut General Assembly has
70、increased the research and development tax credit from 50%to 70%level,in Fiscal year 2023.The newly-approved Illinois Angel Investment Tax Credit Program encourages investment in innovative,early-stage companies to help obtain the working capital needed to further the growth of their company in Illi
71、nois.Investors in companies that are certified as Qualified New Business Ventures(QNBVs)can receive a state tax credit equal to 25%of their investment(up to$2 million).A total of$10 million in Angel Investment tax credits a year are allocated with set-asides for minority-owned,women-owned person wit
72、h a disability-owned,and rural businesses.Credits will be released by quarter,on a first-come first-served basis.Marylands Biotechnology Investment Incentive Tax Credit(BIITC)provides an investor with a refundable State income tax credit for an eligible investment in a Qualified Maryland Biotechnolo
73、gy Company(QMBC).BIITC provides an income tax credit equal to 33%of an eligible investment in a QMBC up to$250,000 in tax credits,or 50%of an eligible investment in a QMBC up to$500,000 in tax credits if the QMBC is located in certain Maryland counties.Enhanced tax credits are also available for eli
74、gible investments made in certain QMBCs located in Opportunity Zones.Total credits issued during the fiscal year cannot exceed the budget amount and are,therefore,issued on a first come basis.The credit is refundable if the investor has no Maryland income tax liability.“As governor,I am working to b
75、uild an Arizona for everyone.Innovation is at the heart of this mission to find breakthroughs in biosciences technology and sustainability.”Arizona Governor Katie HobbsState governments currently enact tax credit legislation to mitigate the significant financial risks associated with research and de
76、velopment in the Biosciences.Tax credits are an important component to building and growing a thriving Biosciences industry hub in a state and in maintaining the dominant U.S.position as the center of innovation.Due to the extensive length of time inherent to the drug development process,small biote
77、chnology companies,for example,often have difficulty obtaining early-stage financing for their research and development.Given that these smaller biotech companies are not yet profitable,they are unable to immediately use their tax assets to offset income.Dynamic Bioscience Supportive TAX CREDIT MEAS
78、URES12|June 2023 The U.S.Biosciences Industry in the States The New Jersey Technology Business Tax Certificate Transfer Program allows new or expanding emerging tech/biotech companies in New Jersey with unused amounts of R&D tax credits which cannot be applied for the tax year,to surrender or transf
79、er those tax benefits for use by other corporation business taxpayers in New Jersey,provided that the taxpayer receiving the surrendered tax benefits is not affiliated with the corporation that is surrendering its tax benefits under the program.The maximum lifetime value of surrendered tax benefits
80、that a corporation shall be permitted to surrender pursuant to the program is$20,000,000.The New York State Life Science Credit now offers up to a 15%refundable credit on qualified R&D expenses(20%for companies that employ fewer than 10 people)in New York state and is a refundable credit that can be
81、 used to offset a tax liability,or it can be received as a cash refund.Combined with the benefit of the federal R&D credit for life science startups in New York,there is a potential$2,750,000 in cash rebates over a five-year period per eligible company and these credits can be directly applied to qu
82、arterly payroll and income taxes.In 2022 Pennsylvania passed legislation providing$115 million in new tax credits annually in the renamed Pennsylvania Economic Development for Growing Economy(PA EDGE)program for a variety of technology sectors including semiconductor manufacturing and biomedical res
83、earch,and biomedical research.A provision in the legislation requires a company to make a capital investment and create a formula for the hiring of a specified number of permanent jobs.Wisconsins Refundable Research Tax Credit was increased in 2022 from 10%to 20%with any unused research credit that
84、is not refundable and may be able to be carried forward.“In 2023 We will put our focus on the high-wage and high-growth innovation sectors that have the potential to bring the greatest investment and most jobs into our state clean energy,life sciences,advanced manufacturing.”New Jersey Governor Phil
85、 MurphyInnovation,Partnerships,and Job Creation bio.org 13Bioscience Incubators and Accelerators FOR EARLY-STAGE COMPANY GROWTH QB3 is the University of Californias center for innovation and entrepreneurship in life science and is a research organization combined with the fundamentals of a startup a
86、ccelerator.QB3 benefits bio-entrepreneurs by creating high-value jobs and brings more than$750 million each year with five of its incubators,an affiliated venture capital firm,and a special initiative in health technology.QB3 only focuses on life sciences,specifically quantitative Biosciences.Connec
87、ticuts CURE Innovation Commons opened in a renovated laboratory building in Groton that was donated by Pfizer.The 22,000-square-foot biotech incubation facility,which features laboratories,office suites,conference rooms,event space and office hours with mentor and industry experts,was renovated with
88、 a$4.2 million grant from their state Department of Economic and Community Development.Delawares Graduated Lab Space Grants incentive program creates“ready-to-go”lab space for companies growing out of space that hampers their ability to continue thriving in Delaware.Target companies include early-st
89、age and small to medium sized companies that are growing out of their existing space in Delaware,as well as similar companies from outside of the state which are considering relocating or expanding to Delaware.The Agreement is structured so that both the company receiving the grant and the space own
90、er/lessor are parties to ensure that:1)the company remains operating in the state for a period of five years;and 2)the owner maintains the improved space as a community asset for the same length of time,regardless of whether the Company Grantee leaves before the end of the five-year term.Eligible ap
91、plicants may apply for a grant of up to 33%of the fit-out or building costs for the lab space portion of the space.An investment in the physical structure needs of both basic and applied research at universities and life sciences-related institutes is an essential step in the Biosciences invention a
92、nd innovation ecosystem.As the science of biotechnology has steadily advanced,the industrial applications of the industry have dramatically changed in the past ten years,state-of-the art research demands modern research facilities.Growing a company is a complex,multi-faceted effort.Founders of early
93、-stage Biosciences and technology companies need qualified laboratory space,equipment,advice,mentoring,and investment for entrepreneurs reach their goals of getting to market.State governments,academic research centers and private developers are very aware of this competitive advantage and have incr
94、easingly integrated the physical facilities into the long-term vision and strategy for economic development by setting aside physical assets to leverage public-private partnerships in early-stage commercialization efforts.14|June 2023 The U.S.Biosciences Industry in the States The Sid Martin Biotech
95、nology incubator has approximately 40,000 square feet of area and is funded by the University of Florida and the United States Department of Agriculture and the Florida Legislature with its mission of nurturing the growth of startup companies that work in the field of Biosciences and related to the
96、University of Florida.The incubator deals in all areas of Biosciences such as life sciences,biomedical research,medicine and chemical science.LabCentral is a Massachusetts based non-profit company which was founded in 2013 as a launchpad for highly prospective life sciences and biotech start-ups.It
97、has over 100,000 sq.feet of operational area in Cambridge University and on the Harvard University campus.LabCentral has a set-up of fully permitted and fully equipped laboratory and office spaces for as many as 100 start-ups including around 500 scientists and entrepreneurs.Moreover,LabCentral is b
98、uilding a more supportable and comprehensive biotech system that supports development,workforce training and next-generation entrepreneurship through its LabCentral Ignite initiative.LabCentral offers world-class facility and organizational support,a skilled and qualified laboratory operations team,
99、and domain-specific events and programming as well as the other crucial facilities and support that early-stage startups need to push-start laboratory operations.Located in the heart of New Jerseys research corridor between Rutgers and Princeton universities,the Commercialization Center for Innovati
100、ve Technologies(CCIT)incubator offers wet labs and access to a wide array of resource and networking opportunities essential to the startup community.The incubators leasable space includes offices,as well as both small and large labs.The 46,000-square-foot CCIT also offers discounted first-year rent
101、 for university spinouts,educational programs and business development resources,including helping to identify funding sources.The North Carolina Biotechnology Centers Landing Pad program helps Biosciences companies establish a presence in the state.The effort offers short-term flexible lease office
102、 space in Research Triangle Park as well as easy access to NCs life science community facilitated by NCBiotech staff.Tenants have immediate access to a conference center,accounting and information services,university and investor connectivity,and a personal liaison to support a soft landing in North
103、 Carolina.The Portland State University Business Accelerator in Oregon is an organization of innovative entrepreneurs in Oregon.The institute has 36,000 square feet of total area,including a 2,600-square-foot Biosciences lab.PSU is the abode to future-ready technologies and Biosciences startups whic
104、h come from all main Oregon research universities.The Accelerator provides office space and fully-loaded lab facilities are a plus for fast-growing startup needs.The dedicated and skilled staff of the accelerator appeals to the regions top science and technology startups.The startups are also levera
105、ging the affordable co-working space,access to the conference room,monthly Business tycoons meetings and topic-related Lunch&Learns,fundraising and business management.“Over a decade ago,(Former)Governor Patrick and the legislature made a bet on life sciences in this state offering funding and suppo
106、rt and leadership to make Massachusetts a leader in biotech.Now,the results are nothing short of remarkable.”Massachusetts Governor Maura HealeyInnovation,Partnerships,and Job Creation bio.org 15Workforce Development Measures for BIOSCIENCE EMPLOYMENTBecause workforce and economic development effort
107、s naturally align,there is a growing recognition by state policy and education leaders that to continue job growth there needs to be public funding mechanisms to ensure a supply of skilled workers to meet Bioscience employer demand and economic prosperity for businesses and residents of the state.St
108、ate tax incentives continue to be important funding sources states can implement in an innovative way to accomplish workforce and economic development collaboration to attract new businesses in a target growth industry and create jobs.BIO believes that there is a growing need for enhanced support th
109、rough new legislation and public-private partnerships focused on the future of the Biosciences workplace at all levels of academic preparation for the Biosciences careers through educational opportunities.Arizona has established the Arizona Health Innovation Trust Fund as a vehicle to drive the crea
110、tion of health innovations that can improve quality of life for the people of Arizona and increase opportunities for the high quality jobs Arizona health innovators create.The appropriation allows the initial set up of the fund and monies invested must mature for five(5)years from the date of deposi
111、t prior to the prescribed 4%distributions being made to a contracted Arizona non-profit that will focus on workforce development,entrepreneurial support,and mission related investments.In Connecticut,a new training program has been launched for New Haven residents interested in jobs in the citys rap
112、idly growing biotechnology industry.BioLaunchs goal is to shape the biotech industry to better benefit the broader New Haven community,as well as to provide an avenue for historically underrepresented communities in biotech to build rewarding careers.The program is designed for non-college-bound 18
113、to 26-year-olds and includes both a classroom curriculum and internship opportunities.The Georgia Bioscience Training Center offers customized workforce training programs with high tech labs for pre-employment assessments,gowning simulations,production system and manufacturing training,testing of ra
114、w materials and microorganisms,aseptic practices,technology maintenance and metrology training,and computer labs.The center is operated by Quick Start and is designed to be altered to teach a variety of processes,pending a clients needs.BioNexus KC of Kansas City,Kansas is co-leading the development
115、 of a statewide workforce training initiative to help area life sciences employers fill in-demand jobs.The initiative also plays into a national challenge to rely less on overseas pharmaceutical manufacturing and bring more manufacturing capabilities stateside.The$2 million workforce training effort
116、 award has established the“Bioscience Industry Occupational Training and Equity Collaborative Hub for Missouri”or BIOTECH for MO.16|June 2023 The U.S.Biosciences Industry in the States New York Citys BioBAT,Inc.is a partnership created by the Research Foundation for SUNY that works to support the ad
117、vancement of the life science industry by providing facilities and resources for scientific research and advanced manufacturing at the Brooklyn Army Terminal.A focus of BioBATs mission is to attract and retain promising research firms and develop a skilled 21st Century workforce.The University of Mi
118、nnesotas BioTechnology Institute(BTI)received a grant awarded by the State of Minnesota Job Skills Partnership(MJSP)Board to kick start their training efforts.Over the next three years,BTI will provide advanced biopharmaceutical training for up to 125 Takeda employees working at its biologics manufa
119、cturing facility in Brooklyn Park,Minnesota.The training program will consist of six courses focused on a range of topics based on current Good Manufacturing Practices(cGMP),technical writing,facility operations and the product life cycle of biologics.BioSTL has been awarded a$2 million grant from t
120、he Missouri Department of Economic Development to create the Bioscience Industry Occupational Training and Equity Collaborative Hub for Missouri,which will help train underrepresented communities for quality employment in the Biosciences industry.The Nebraska Legislature approved the creation of the
121、 Nebraska Innovation Hub Act to serve as a resource for stimulating and supporting entrepreneurship and technology based small businesses in Nebraska.The Nebraska Department of Economic Development designates innovation hubs within iHub areas to stimulate partnerships economic development and job cr
122、eation by leveraging iHub partner assets to provide an innovation platform for startup businesses,economic development organizations,business groups,and venture capitalists.The Oklahoma City Innovation Districts biomanufacturing workforce training center(BWTC)program.One of the only programs of its
123、kind within the United States,the BWTC program presents inclusive,non-degreed careers within the citys emerging Biosciences industry that directly benefit from the BWTC programs output of skilled technicians that are able to step directly into the roles needed at local research labs and generate dat
124、a more quickly.Puerto Rico and LIFT,the Detroit-based national manufacturing innovation institute,to open a local branch of its operation to offer advanced applied research and development,as well as advanced manufacturing on the island.In the agreement,LIFT will engage to support the local workforc
125、e development in the Biosciences and CHIPs sectors by providing next-generation manufacturing training opportunities.“New York is at the forefront of the rapidly growing life sciences industry,which has become a powerful growth engine for the state growth and is turning regions of the state into dyn
126、amic life science.”New York Governor Kathy HochulInnovation,Partnerships,and Job Creation bio.org 17 Oregons BioCatalyst Advanced Training Program offers Biosciences-specific professional training to under/unemployed Oregonians hoping to launch their careers in the Biosciences industry.The objective
127、 is to prepare qualified,mid-career candidates to earn sector-specific Biosciences industry certificates to facilitate this employment transition.Business Oregon,in partnership with Oregon BIO,received funding from the legislature to start the BioCatalyst program in 2014.The South Carolina Biotechno
128、logy Industry Organization(SCBIO)launched its life sciences workforce development mobile app Rad Lab and is designed for middle-and high schoolers across South Carolina.It is part of a workforce and career development initiative spearheaded by SCBIO and select industry partners that seek to connect
129、over 400,000 middle and high schoolers in the state,including underserved youth,to life-science careers via mobile gaming technology.The Employee Training Incentive Program provides refundable tax credits to New York State employers for skills training that upgrades or improves the productivity of t
130、heir employees.Businesses can also receive tax credits for approved internship programs that provide training in advanced technology,life sciences,software development or clean energy.Tax credits may be awarded for costs associated with an eligible training program for current or new employees.The i
131、nternship program is available for current students,recent graduates and recent members of the armed forces.Tax credits may be issued only after approved training is completed.The University of Washington Bothell School of STEM has been awarded additional funding from the FY 2022 Omnibus Appropriati
132、ons Bill to support the growing Biomedical Innovation Partnership Zone(IPZ)in the Bothell-Woodinville corridor,as well as the broad array of biotech opportunities in the region and across the state.Its aim is to expand curriculum,increase student-faculty research and create a pipeline of talent for
133、the growing biotech sector.“In order to make Virginia a leader in biotechnology,life sciences and pharmaceutical manufacturing,we have to accelerate our growth and create a best-in-class business environment for this industry.”Virginia Governor Glenn Youngkin18|June 2023 The U.S.Biosciences Industry
134、 in the StatesAs the science of biotechnology has advanced over the decades,the need to better define key components of the various facets of company creation and expansion and description of the foundational building blocks for individuals or groups interested in various phases and tools needed to
135、successfully navigate the growing economic development community of interest in the Biosciences.Here are some examples.Angel Investor:An investor who provides financial backing for small startups or entrepreneurs.Angel investors typically invest their own funds,as opposed to venture capitalists who
136、manage pooled money in a professionally managed fund.The capital provided by an angel investor can be a one-time injection of seed money or ongoing support.Bioeconomy:Economic activity involving the use of biotechnology and biomass in the production of goods,services,or energy.This includes the appl
137、ication of scientific and technological developments to agriculture,health,chemical,and energy industries.Biomanufacturing:A type of manufacturing that utilizes biological systems to produce commercially important biomaterials and biomolecules for use in medicines,food and beverage processing,and in
138、dustrial applications.Bioscience Research:The basic,applied,or translational research that leads to the development of therapeutics,diagnostics,or devices to improve human health or agriculture.Business Incubation:A business support process that accelerates the successful development of start-up and
139、 fledgling companies by providing entrepreneurs with an array of targeted resources and services.Business Retention:The activity that an economic or workforce development agency undertakes in order to reduce the loss of private sector businesses.Drug Development Costs:The total cost of developing a
140、new drug,including studies conducted after regulatory approval.According to a 2020 analysis by the Tufts Center for the Study of Drug Development,the average cost is$2.7 billion and up to ten years of research and testing.Economic Development:A process that influences the growth and restructuring of
141、 an economy to enhance the economic well-being of a community.Economic development encompasses job creation,increases in community wealth and the improvement of quality of life.Fund of Funds:A fund of funds is an investment strategy of holding a portfolio of other investment funds rather than invest
142、ing directly in stocks,bonds or other securities.FDA Review:The regulatory process by which the U.S.Food and Drug Administration reviews a sponsor companys data from clinical studies to determine if the new product is safe and effective for its intended use.Human Capital:A measure of the economic va
143、lue of an employees skill set,including education,experience,abilities,and productivity.GLOSSARY OF TERMSInnovation,Partnerships,and Job Creation bio.org 19Incentives:Benefits or rewards offered to motivate action.Incentives are often as part of an economic development strategy,including tax abateme
144、nts and credits,low interest loans,infrastructure improvements,job training and land grants.Net Operating Losses:Net operating loss is the result when a companys allowable deductions exceed its taxable income within a tax period.The NOL can generally be used to offset a companys tax payments in othe
145、r tax periods through an IRS tax provision called a loss carryforward.Initial Public Offering(IPO):The first sale of stock by a company to the public.Public-Private Partnership:A venture which is funded and operated through a partnership between a government entity and one or more private sector com
146、panies,usually to finance,build or manage a project for the public good.Seed Capital:The funding required to get a new business started.The capital is almost always supplied by an entrepreneur and his/her family,friends and relatives,and it is used to help attract other investments.Small Business In
147、novation Research Grants(SBIR):Federal and state grant agreements entered into with companies focused on the performance of experimental,developmental or research work leading to potential creation of goods and services.Tax Credit:The amount of money that can be offset against a tax liability.Tax cr
148、edits are often used as an incentive to attract new companies and retain existing companies in the state.Tax Exemption:The amount of money that can be subtracted from the assessed market rate.Tax exemptions are often granted to individuals,institutions and types of property.“Illinois continues to gr
149、ow as a thriving innovation hub with world-class research institutions and top-tier talent for a biomedical research hub that will take medical research to a new level.”Illinois Governor J.B.Pritzger20|June 2023 The U.S.Biosciences Industry in the StatesEconomic Development GuideCONCLUSIONEditorial
150、Review Contributors:Vicky Stinson,BIO Director of State Policy&Strategic CommunicationsPatrick Plues,BIO Vice President,State Government AffairsMichele Oshman,BIO Vice President of External AffairsJohn Guy,BIO Manager of Emerging Companies PolicyAs illustrated in this 2023 biennial economic developm
151、ent report,every U.S.state continues to actively engage in building Biosciences industry infrastructure through state-based policy measures that encourage investment in capital and human resources to support companies in a challenging economic innovation cycle.We have growing life science clusters,b
152、oth large and small,and a diverse community of stakeholder groups that provide the strategic research initiatives,financing,enabling legislation,state-of-the-art laboratories within both industry and university research parks,and workforce training efforts needed to successfully compete in todays ma
153、rketplace of ideas.Since the beginning of the Biosciences industry forty-plus years ago,public-private partnerships that provide cutting-edge research turned products for the marketplace are crucial at all levels of company creation and expansion,and the future of our industry is predicated on leade
154、rship and commitment to maintain and grow the Biosciences industry into the future.Beyond the economic efforts noted in the report,we believe that while we are living through one of the most challenging times in our nations history,this has also been a clarifying time.Clarifying in the sense that we
155、 are seeing the best of the scientific community and unprecedented public collaboration and cooperation within our industry to identify ways to improve the human condition through science.Principal Author,Editor Peter M.PelleritoBIO Senior Policy AdviserFederal/State Economic Development&Technology
156、Transfer LeadBIO EditorMichael LinehanBIO Manager,State Government AffairsDesigned and Formatted by:Meagan Samuel,29M Designs,LLC“Weve always talked about Rhode Island being a hub of bioscience activity and over the past few years weve laid the foundation for this growing sector.Its time to double down and make a major investment in Rhode Islands life science industry.”Rhode Island Governor Dan McKeeInnovation,Partnerships,and Job Creation bio.org 211201 New York Avenue,NW Ste.1300Washington,D.C.20005bio.org