The Midwest is at the top of the nation’s biotechnology industry according to an Ernst & Young study (The Economic Engine of Biotechnology in Illinois) presented by Illinois Governor Pat Quinn on Monday (4/22) at the BIO International Convention. With more research spending and more bioscience employees than the East or West Coast., the Midwest is called a “best-kept secret of biotech” .
Excerpts from Illinois Biotechnology Industry Organization’s (iBio) announcement of the study include:
iBIO President and CEO David Miller said, “The report shows not only that Illinois is a remarkably diversified biotech powerhouse, but also that our state is at the heart of a Midwest region that easily holds its own with either coast.”
The Midwest Super Cluster, which includes Illinois and the surrounding eight-state region, surpasses California and the East Coast in biotechnology-related employment, number of establishments, and research and development expenditures according to “The Economic Engine of Biotechnology in Illinois”.
“Ernst & Young is committed to helping the Midwest become one of the top biotechnology communities in the world,” said Ernst & Young’s Midwest Health Sciences Leader Jo Ellen Helmer. “To succeed, our region must continue to invest in the industry and increase collaboration and partnerships, as well as facilitate ongoing research, recruit the talent needed to ensure growth and emphasize the ease and ability to secure early-stage funding.”
A Crain posting expanded on iBio’s announcement:
The Midwest has higher research spending ($6.6 billion) than California ($4.7 billion) or the Boston-Philadelphia-New Jersey corridor ($3.7 billion)
The Midwest is a bioscience hub that employs more people (301,137) than either California (230,177) or the East Coast (253,000)
Illinois has giants Abbott Laboratories, Baxter International Inc. in Lake County and downstate Archer Daniels Midland Co. Indiana has drugmaker Eli Lilly & Co. and a cluster of medical-device makers. Minnesota has medical-device maker Medtronic Inc. and Mayo Clinic.