Georgia Department of Economic Development

Department of Economic Development

Georgia: An Emerging Leader in the Business of Bioscience

November, 2007

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Georgia’s Bioscience Credentials

Bioscience in Georgia Today

250+ bioscience companies

15,283 private sector jobs, $940M+ in annual wages, $61,500 avg. salary

7,500+ jobs at CDC, universities & other public sectors

$6.9B projected in Georgia-generated sales this year

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7th largest bioscience center in the U.S. (Ernst & Young)

#5 for biotechnology strength (Business Facilities magazine)

Ga. Tech-Emory Dept. of Biomedical Engineering ranked 2nd best in nation (U.S. News & World Report)

Bioscience ratings

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Expanding 38% faster than other industry sectors (2001-2006)

Medical & diagnostic labs

Surgical appliance and supplies mfg.

Life sciences R&D

Pharmaceutical mfg

Medical devices are a core strength

Emergence of biofuel & bioenergy firms

Bioscience growth

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Merial, Solvay, Ciba Vision, UCB, Quintiles, etc.

CDC, American Cancer Society, Arthritis Foundation, CARE, Carter Center

Georgia’s bioscience citizens

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Bio companies recently assisted by state

PharmaCentra, Ben Hill/Irwin County

Altea Therapeutics, metro Atlanta

Bacterial Barcodes, Athens

Greenway Medical Technologies, Carroll County

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Why Georgia is Best for Bio

Georgia’s Business Assets for Bioscience

Workforce & talent

Research partnerships & facilities

Incentives & capital

Business environment

Operating costs

Logistics

International business connections

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Workforce and Talent Young population and strong in-migration 4th fastest-growing state in U.S. More than 100,000 people move here each year Education

105 public colleges, universities & technical colleges The ICAPP Advantage/Eminent Scholars program HOPE scholarship

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Research Partnerships

Georgia Life Science Partners

The Georgia Research Alliance

The Georgia Biomedical Partnership

The Advanced Technology Development Center

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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:

Eminent Scholars

Research laboratories and equipment

National centers for research and innovation

Technology transfer

Research Partnerships

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The Georgia Research Alliance has invested over $400 million, which has helped to:

Attract more than 50 Eminent Scholars

Secure an additional $2 billion in federal and private funding

Create more than 5,000 new technology jobs

Generate some 120 new technology companies

Allow established Georgia companies to expand into new markets

Current investment focus for GRA is vaccine development.

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Georgia Research partnershipsThe 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 conducts business and economic development activities; advocates on behalf of the industry on public policy matters educates the public about the benefits of life sciences research and

product development provides a network for the exchange of ideas, information and

opportunities.

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.

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science and technology incubator that helps Georgia entrepreneurs launch and build successful companies

provides strategic business advice and connects its member companies to people and resources

headquartered at the Georgia Institute of Technology

recognized by Inc. Magazine as one of the nation's top non-profit incubators

locations in Atlanta, Columbus, Savannah and Warner Robins

Georgia Research partnerships

The Advanced Technology Development Center (ATDC)

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Research facilities Emory Vaccine Center (emerging infectious diseases)

Center for Biotechnology and Drug Design at Georgia State University (vaccines and diagnostics, applied genomics, bioinformatics, neuropharmacology, drug design & synthesis)

The Center of Biotechnology and Genomic Medicine at Medical College of Georgia (interdisciplinary research in genomics, proteomics and bioinformatics)

Research Center at Clark Atlanta University (interdisciplinary, includes biomedical research & training)

UGA Biomedical and Health Sciences Institute (biomedical and human health research and education)

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Research collaborations between faculty at Georgia Tech, Emory & others include: Nano-medicine:

attracted over $40M in funding from 3 NIH Nano-medicine Development Center Grants

Georgia Tech/Emory Biomedical Engineering department is the only biomedical engineering department in the nation that has 3 of these highly competitive grants.

Regenerative medicine 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

additional partners at UGA, Spelman College, and Morehouse School of Medicine.

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CollabTech (GSU)

Ga. BioBusiness Center (UGA)

Center for Applied Genetic Technologies (UGA)

Emtech Bio (Ga Tech, Emory, GRA, ATDC)

Life Sciences Innovation Center (State of Ga., Medical College of Ga.)

Incubators

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Incentives Workforce training: ICAPP Tax Credits: Job Creation, Investment, Headquarters,

R&D, Sales tax exemptions

Capital Low Interest Loan Programs: Life Sciences Facilities

Fund, Strategic Industries Loan Fund, Seed venture capital fund

Private funding: Venture capital investment nearly $250M (2006) Expected $319M in 2007

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Biosciences Seed Fund Seeded growth of 11 companies Invested $3.6M in state funds to attract $140M in private equity

(30-1 leverage) Ga. Life Sciences Facilities Fund

Loan assistance for fixed assets or help with tenant improvements during expansion or relocation of emerging or development-stage companies

Strategic Industries Loan Fund Low-interest loans to strategic industries, including bioscience

Low Interest Loan Programs

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Georgia’s Business Environment: Rankings #1 in workforce training (Expansion Management) #1 in fiscal policies (Laffer Report) #2 for business environment (Site Selection) #3 in entrepreneurial activity (Kauffman Foundation) 4th best state to do business in (CNBC) 12th for entrepreneurship climate (Small Business

Survival Index) 15th best state for business (Forbes)

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Georgia’s operating costs

Longtime triple ‘A’ credit rating: highest rate possible

Moderate costs for property, construction & commercial leases

Moderate costs of power, logistics & general operating activities

Wages & social costs below national average

Cost of living & housing below national average

Low tax rates

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Georgia’s Logistics Hartsfield-Jackson Airport

725,000+ tons each year

Direct flights to 5 continents & 150+ U.S. cities

Central location, U.S. East Coast & Southeast

More than 80% of U.S. market within a 2-hour flight

Comprehensive transportation logistics network

More than 80% of U.S. market within 2-day truck haul

5,000 miles of railroad – largest network in Southeast

Savannah Ports are fastest-growing in U.S.

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International business connections

50+ countries have consular, trade or bi-national chamber of commerce offices

11 international offices (when China office opens)

Delta: 317 destinations in 55 countries

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The Future of Bioscience in Georgia

Strategic industry focus ITO collaboration with bioscience stakeholders and

industry groups on strategic plan Investment in BIO 2007 & 2008 Host of BIO 2009 Expansion of our partnerships

Attracting and growing the bioscience industry in Georgia

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Promotion of Life Science Facilities Fund and Strategic Industries Loan Fund

Support of facility expansions like Technology Enterprise Park

Collaboration with Governor’s Office of Workforce Development and the “Innovation Crescent”

Attracting and growing the bioscience industry in Georgia

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Bioscience as a Strategic Industry

Commission for a New Georgia

One of 7 strategic industries in which Georgia’s goal is to be recognized as a world capital by 2020

Goal: Georgia’s bioscience economy will be ranked one of the top 5 in the U.S. by 2020

Led by Pete McTier

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Bioscience areas of focus

Advanced medical technologies

Bio-manufacturing

Drug discovery

Nano-medicine

Contract services

Vaccine development

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Partners University System of Georgia Life Sciences Center of Innovation in Augusta Georgia Research Alliance Emory University Georgia Bioscience Partnership ICAPP DTAE CDC Private sector industry Georgia Allies

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BIO 2007 – Boston, MA

Record number of attendees: 22,366. (15% increase over 2006)

$31,000,000 economic impact for City of Boston

4-day Boston conference brought over 31,000 room nights

Lead generation: more than 1000 visitors to the Georgia Pavilion


Marketing

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BIO 2008 – San Diego, CA

Expand the Ga. brand: Opening Reception host (over 5,000 guests anticipated)

Relationship building: CEO Reception host (over 400 life science CEOs)

Year-long platform to highlight Ga’sA life science industry / BIO 2009

Double Helix Sponsor level / life science micro-site to target prospects


Marketing

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BIO 2009 – Atlanta, GA

ACVB estimates a $26.2M impact on Georgia

Long-term regional impact: Midwest impact for BIO 2006 – Chicago was estimated at $300M

Statewide exposure: more than 25,000 attendees anticipated in Atlanta

Long-term gain: Potential to be one of four-city rotation

Significant recruitment impact: year-long Georgia life science focus… and beyond


Marketing

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MarketingUpcoming trade shows in FY08

Bio AsiaJan. 28-30, 2008Tokyo, Japan

InterphexMay 26-28, 2008Philadelphia, PA

World Congress on IndustrialBiotechnology & BioprocessingApril 27-30, 2008Chicago, IL

Medical Design & ManufacturingJune 11-14, 2008New York, NY

SE BIONov. 7-8, 2007Pinehurst, NC

Bio EuropeNov. 12-14, 2007Hamburg, Germany

MEDICANov. 14-17, 2007Dusseldorf, Germany

Biomanufacturing Summit, N. AmericaDec. 10-11, 2007St. Augustine, FL

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Raise Georgia’s visibility in key markets through highly targeted marketing initiatives (advertising&PR; events; collateral, web, etc.)

Build relationships with in-market key decision makers Repeated direct follow-up with such decision-makers Focus on Georgia’s strategic industries. Integrate into all department teams: project managers,

Trade, international offices, etc. Gov’s missions to SEUS-Japan, SEUS-Canada, Korea, etc.

Global Georgia Strategy

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Measuring Success

Goal: Georgia’s bioscience economy will be ranked one of the top 5 in the U.S. by 2020

Georgia Department of Economic Development

Georgia Department of Economic Development

Documents

Transcript of Georgia Department of Economic Development