Study: Biomed Device Industry Contributes $2.5B to Seattle Metro Region
A recent study has determined that the biomedical device cluster in the Seattle area contributes $2.5 billion in gross revenue and employs over 5,800 workers with total wages of $488 million.
The report, the Washington State Biomedical Device Study, was commissioned by enterpriseSeattle, the City of Bothell, the University of Washington Bothell Biotechnology & Biomedical Technology Institute, Snohomish County Economic Development Council, the Washington Biotechnology & Biomedical Association, the Prosperity Partnership and the Washington Technology Industry Association, and was conducted by Seattle-based research firm Community Attributes.
The goal of the study, according to a statement from enterpriseSeattle, is to “quantify the economic impact of the biomedical device industry in order to better understand and strengthen the potential effect on the local economy.”
The organization noted that the total US medical device market is expected to reach nearly $140 billion in revenue by 2013.
The study found that there are more than 120 biomedical device companies in Washington State, with around 100 of these located in the central Puget Sound region.
Bothell is at the “apex” of the biomedical device industry in the region, according to the report, and is responsible for almost half of the region’s jobs and almost three quarters of total gross revenue.
Since 2000, employment in the Seattle region has grown by 8.2 percent per year, and 2,500 new jobs have been added to the region’s biomedical device cluster.
Jeff Marcell, executive vice president and COO for enterpriseSeattle, said in a statement that the study “is an excellent marketing tool to the industry, not only to attract new business, but for recruiting top industry talents as well.”
NYBA Reports Double-Digit Growth in New York Biotech Industry
The New York Biotechnology Association this week released its 2008 State of the Industry Report, which found that the number of biotech companies in the state has grown by 17 percent over the past three years, while employment in the industry has grown by 16 percent during that time.
According to NYBA, New York State currently ranks fifth nationwide in terms of the biotech industry’s contribution to the state economy.
The State of the Industry Report found that the New York biotech industry supported around 10,000 jobs in 2007, a 58-percent increase from 6,340 jobs in the industry in 2002.
In addition, the study found that New York biotechnology companies generated around $3.4 billion in revenue in 2007, more than double 2002 revenues of $1.6 billion. It also determined that New York’s “broader biopharmaceutical industry” contributes more than $4.5 billion in “direct economic impact,” of which more than $514 million is contributed to the state through tax revenue.
NYBA said it identified 295 companies in New York State that are dedicated to “biotechnology and related life science industry sectors,” of which 118 “can strictly be defined as engaging in biotechnology.” Of these, 26 are publicly traded and 92 are privately held.
The state’s publicly traded biotechnology companies have a combined market capitalization of around $10.6 billion, according to the study. Of these, three firms have market capitalization of greater than $1 billion, seven have market caps of between $100 million and $1 billion, and 16 have a market cap of less than $100 million.
In terms of government funding, NYBA found that New York ranks third behind California and Massachusetts in grants from the National Institutes of Health, and “consistently ranks in the top five states nationally” in the number of biotech patents issued annually.
The complete report is available here.
Oklahoma BioScience Association Seeks Advice from Other Regional Groups in First Meeting
In its first open meeting, held last week, the newly formed Oklahoma BioScience Association, sought advice from similar organizations from other states, according to a report from the Journal Record of Oklahoma City.
Representatives from the Arizona BioIndustry Association, Georgia Bio, the Kansas Bioscience Organization, and the Biotechnology Industry Organization, shared their experiences in growing regional bioscience clusters at the meeting, the paper reported.
OKBio is giving small businesses 18 months of free membership in order to encourage more activity. Dues range from $200 for individuals and emerging companies to $4,000 for entities that have more than 101 employees.
Supporters for OKBio include the Greater Oklahoma City Chamber, i2E, Oklahoma Business Roundtable, Oklahoma Commerce, OCAST, Oklahoma State University, Presbyterian Health Foundation, the Noble Foundation, the University of Oklahoma Health Sciences Center, and the Warren Foundation.
Florida Economic Development Program Supports HS Bioscience Training
Florida's Workforce Innovation in Regional Economic Development, or WIRED, initiative said last week that it has awarded $130,000 to the Wakulla County School District to add a biomedical technology track to the Qakulla High School’s Health Sciences program next year.
The school district will match the investment with $185,420. The school expects around 150 students to enroll in the program.
The WIRED Northwest Florida Initiative secondary education grants were developed in 2006 to promote career skills for post-graduation employment in several targeted industries, including life sciences.
"Biomedical technology is one of the fastest-growing fields in Florida," David Miller, superintendent for the Wakulla County School District, said in a statement. "Our students will have a real advantage in the job market for high-wage, high-demand careers."
Denver Non-Profit Incubator Initiative Signs Accounting Firm as Founding Partner
Accounting firm RSM McGladrey said last week that it is a founding partner of CTEK Denver Ventures at Stapleton, a non-profit organization with the goal of supporting regional innovation and entrepreneurship.
Over the next few months, CTEK Stapleton plans to launch four incubators in the Denver area that focus on clean technology, aerospace, and biotechnology.
CTEK said that it has so far assisted more than 500 start-up and early-stage companies.
“RSM McGladrey and CTEK Stapleton share a common commitment to working with entrepreneurs and growing businesses,” said Jason Sibley, a managing director in RSM McGladrey’s Denver office, in a statement. “We believe our partnership will foster economic growth in the Denver area.”
Stephen Miller, executive director of CTEK Stapleton, added that the group “will soon be part of the new Alliance for New Business Development, a partnership between CTEK Colorado and six other new and existing incubators located throughout the Rocky Mountain region.”
This alliance will share “a variety of resources critical to the success of entrepreneurs, including an advisor network and connections to angel and venture capital,” Miller said.
UK’s NEPIC Snags $3.2M from Regional Development Agency
UK regional development agency One NorthEast last week awarded £1.65 million ($3.2 million) in funding to the North East Process Industry Cluster, or NEPIC, to support the initiative over the next three years.
NEPIC is a network of around 500 of the region’s pharmaceutical, biotechnology, chemical, and support companies. Members collaborate “to generate investment, attract more-science based companies into the region, improve manufacturing capability and raise the chemical industry’s profile nationally and internationally,” according to a NEPIC statement.
Ian Williams, director of business and industry at One NorthEast, said the organization expects the process industry to grow by 50 percent to £13.3 billion by 2015 and create an additional 12,000 new jobs.
ClinPhone Opens Office in Paris
Clinical technology organization ClinPhone said last week that it opened a new office in Paris.
The company said it has a number of large pharmaceutical clients based in France and that the new office will provide these customers with a local point of contact.
Damien Tremolet, director of operations at ClinPhone, will lead the new office, which is located in the business center of the Gare de Lyon station in Paris. He will be supported by Jacques Rudelle, associate director of business development at ClinPhone.